Story (IP) Surges 50%, Aroon and MACD Indicators Signal Continued Gains

Story (IP) has surged by nearly 50% in the past 24 hours, making it the market's top-performing asset. During Thursday's early trading session, this rally pushed IP to a new all-time high of $3.67.

Story (IP) price hit a new all-time high on Thursday as buying pressure showed no signs of abating. The coin surged by nearly 50% in the past 24 hours, making it the best-performing digital asset in the market.

At press time, IP is trading at $3.67, up by 47.36% in the past 24 hours. Over the past week, the coin has surged by a massive 263.98%.

A closer look at the IP/USD four-hour chart shows the coin’s Aroon Up Line at 100%, indicating a strong uptrend. This uptrend is further supported by high demand and not speculative trades.

An asset’s Aroon Indicator measures the strength and direction of a trend by tracking the time since the highest and lowest prices over a given period. The indicator comprises two lines: Aroon Up, which measures bullish momentum, and Aroon Down, which tracks bearish pressure.

As with IP, when the Aroon Up line is at 100, it means the asset has recently hit a new high, signaling strong upward momentum and a dominant bullish trend. This suggests that buying pressure is high, and the price may continue rising.

Converesly, IP’s Aroon Down Line is at 0% at press time. This indicates that the coin has not recorded a new low during the review period. These conditions, occuring simultaneously, suggest that IP is witnessing a strong uptrend with minimal downside pressure.

Furthermore, its Moving Average Convergence Divergence (MACD) setup is also hinting at a bullish trend. At press time, IP’s MACD line (blue) rests above its signal line (orange).

When this momentum indicator is set up in this manner, it indicates bullish momentum, suggesting that the asset’s price may continue to rise.

IP Eyes $4, But Overbought RSI Signals Caution

A continued buying pressure in its spot markets will push IP to new highs. If this bullish momentum is maintained, the altcoin could maintain its price rally and exchange hands above $4 in the near term.

However, readings from its Relative Strength Index (RSI) suggest that the asset is overbought and at risk of a price correction. At press time, this indicator stands at 83.69.

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.

At 83.69, IP’s RSI hints at a potential correction in the near term. If that happens, the altcoin’s price could plummet to $1.69.