The total cryptocurrency market has risen about 10%, or more than $330 billion, within hours since US President Donald Trump announced the US strategic reserve of cryptocurrencies including bitcoin and Ethereum. As investors responded to the news, the statement sent shockwaves across the cryptocurrency market, skyrocketing prices.
Despite being launched on February 13, 2025, Story (IP), a native currency of Story Protocol, has surged 18.44% to $6.25 in the past 24 hours and 549.69% since its launch, suggesting investor interest in the token.
Following the gain, the Story (IP) chart consolidates into a Bullish Continuation Pattern. After a week of launch, the Story price began to gain momentum, rising from $1.938 to a peak of $8.9172. The price briefly dropped to $3.8964, but it resumed its upward trajectory to maintain its bullish momentum.
IP/USDT Chart Looks Bullish
The 9-day EMA (Exponential Moving Average), which serves as dynamic support for additional upward movements, is above the price at this moment. The RSI is currently at 68.85, just below the overbought zone (70). While this suggests positive momentum, it also raises the possibility of a slight correction before another breakout.
IP price surged beyond $7 after finding support at $3.82 and breaking through the barrier at $5.66. A bullish reversal is indicated by the MACD Line passing above the Signal Line in the chart above. Green histogram bars suggest rising buying momentum, which typically leads to price surges.
An upward trend pattern is confirmed by the price’s continuous higher highs and lowers.
Therefore, if the bulls trigger a breakout above the range, then the price may reach the crucial resistance at $7.8744. If this pattern continues, the next breakout could push the price towards $9.5383 and potentially reaching the expected price target of $12. otherwise, the price may face a rejection and remain accumulated within the range.
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