Story’s IP continues its impressive bullish run, marking another day of substantial gains as its upward momentum persists. Surging by 11% in the past 24 hours alone, IP stands out as the second-highest performer in this timeframe, showcasing its resilience amidst market fluctuations.
Over the previous week, this altcoin has displayed a remarkable 17% climb, defying the broader market downtrend and establishing itself as a top-performing asset in the current landscape.
The short-term outlook for IP remains optimistic as buying pressure steadily builds. Insights from the 12-hour chart indicate a potential sustained price growth in the near future, with the coin’s Moving Average Convergence Divergence (MACD) signaling further bullish prospects.
Witnessing a noteworthy development, IP’s MACD line has crossed above the signal line after a prolonged period below it, generating a green histogram bar during recent trading sessions. This bullish crossover signals a shift in momentum towards the upside, reflecting an escalation in buying activity. The visible green histogram bar reinforces this positive trend, suggesting a continuation of IP’s uptrend. Should this momentum persist, it could attract more market participants, potentially propelling the coin's value to new heights.
Moreover, IP’s Aroon Up Line, an indicator tracking trend strength, affirms the ongoing rally's durability, hinting at a sustained upward trajectory. Presently standing at 92.86%, this metric indicates a robust uptrend for IP, with the coin currently trading at $5.91, marking its highest valuation since March 8.
Maintaining a strong position above the crucial support level established at $5.54, IP appears well-positioned to extend its climb. With continued bullish sentiment in the market, IP might aim to reclaim its previous all-time high of $7.95, showcasing its potential for further growth.
However, a resurgence in profit-taking by holders could challenge this bullish projection, potentially leading to a retracement below the $5.54 support level and a decline towards $4.05.