The post Story IP Hits New All-Time High – Can Bulls Push the Price More? appeared first on Coinpedia Fintech News
Story IP is now under the watchlist of many, and possibly yours too, after it broke into its uncharted territory. The token price surged 19% in the past 24 hours, touching a new all-time high of $11.75. Over the last week, Story IP price is up more than 30%, taking its market cap a notch higher to $3.11 billion. What’s amassed attention is the daily volume soaring 675% to $652.2 million.
This rally hasn’t happened in isolation. A mix of token buybacks, strong institutional flows, and regional exchange demand has fueled the upside momentum. More about which you’ll learn as we proceed. However, it also brings heightened risks that traders should keep in mind. Let’s break down the price action and what may come next.
Top Reasons Why Story IP is Rallying
The fundamentals behind this surge are just as compelling as the chart:
- Token Buyback Program: Heritage Distilling’s $82 million repurchase plan has entered its final phase, reducing circulating supply and boosting investor confidence.
- Liquidity from Upbit: South Korea’s largest exchange has quickly become the heartbeat of IP trading, accounting for nearly 30% of daily volume.
- Institutional Support: Grayscale’s Story Trust AUM climbed 1.3% this week, signaling steady inflows from investors who see long-term value in IP.
Story IP Price Analysis
The technical setup tells that Story IP smashed through the 23.6% Fibonacci retracement at $10.26. Talking about indicators, the RSI 14 is at 68.19, just shy of the overbought mark, while the MACD histogram widened to +0.25, reflecting bullish pressure steaming up.
With IP price riding above its 7-day SMA of $8.57, the token is trading at a 16.7% premium over its short-term average. While this highlights strength, it also raises the possibility of a near-term pullback. If buyers keep the fire going and break above the $11.75 ATH, the next major technical target lies at the 127.2% Fibonacci extension around $13.46. That level could become the next battleground for bulls and bears.
On the flip side, the 38.2% Fib level at $9.34 is the threshold to watch. A daily close below this zone might invite profit-taking and cool off momentum. For now, though, the charts suggest traders are chasing the breakout rather than waiting on the sidelines.
FAQs
Story IP is currently trading around $10.22, just below its new ATH of $11.75.
With RSI near overbought levels and price stretched above short-term averages, a correction toward $9.34 is possible if momentum slows.
If the bulls break past $11.75, the next key resistance sits near $13.46, based on Fibonacci extensions.
