The price of Story (IP) has seen a remarkable surge of over 10% in the past 24 hours following the launch of its eagerly awaited mainnet. This crypto launch, backed by a substantial $134 million in funding from prominent investors such as Andreessen Horowitz and Polychain Capital, has generated significant buzz in the cryptocurrency community.

With a strong upward trend propelling its price, technical indicators suggest that IP is at a crucial juncture. Having exceeded a market cap of $500 million before a brief correction, the future trajectory of IP will largely depend on how traders respond to key support and resistance levels.

Story is currently riding a strong uptrend post the official unveiling of its Layer-1 mainnet, with this recent surge triggering a notable rise in the Average Directional Index (ADX). The ADX reading has surged from 25 to 43, signifying a robust trend strength.

The price of IP has surged over 11% in the last 24 hours, placing it as the top-performing altcoin of the day. The higher ADX reading confirms a strengthening momentum, suggesting increased trading activity and a sustained directional move.

The current ADX level of 43 indicates a continuing robust trend, reflecting a bullish sentiment and potential for further upward movement. However, a decline in ADX could signal waning momentum, potentially leading to consolidation or a reversal.

Meanwhile, despite a slight decline in BBTrend from 14.3 to 10.6, IP's BBTrend remains positive, hinting at ongoing bullish momentum. The indicator's trend strength and potential reversals indicate a stable yet positive market outlook.

As IP trades between a resistance at $2.12 and a support at $1.90, maintaining a crucial price range, traders are keenly observing whether the uptrend prevails or weakens. A breach of the $1.90 support could lead to further declines towards $1.79, while a breakout above $2.12 could drive price towards $2.30, indicating a bullish momentum that may push the altcoin to higher levels.