Story Price Eyes $7.00 Resistance As Bulls Push Higher

The Story price has surged 28% in the last 24 hours to trade at $6.42 as of 3:15 a.m. EST on a 186% pump in trading volume to $2.08 billion.

The Story price has surged 28% in the last 24 hours to trade at $6.42 as of 3:15 a.m. EST on Thursday. The token, which is the native cryptocurrency of the blockchain project Story, also known as IP Chain, has seen a 186% pump in trading volume to $2.08 billion.

The IP/USDT chart on the 1-hour timeframe displays strong bullish momentum, though some signs of possible exhaustion are emerging. The price currently trades at $6.42, marking a 2.31% decline from the previous hourly close at $6.60.

Throughout the session, the price has fluctuated, reaching a high of $6.684 and a low of $6.231, reflecting ongoing market volatility. Despite the slight drop, the broader trend remains positive, with price action forming a bullish channel within a parabolic curve, signalling increasing buying interest.

IPUSDT Analysis Source: Tradingview

The support zone around $0.93 – $1.00 (marked in yellow) previously served as a strong accumulation base before the parabolic move began. Since then, the price has steadily climbed, encountering intermittent corrections but maintaining its bullish trajectory.

The current rally is approaching a major resistance level at $7.00, which will be a crucial battleground between buyers and sellers. If bulls manage to break and sustain above this resistance, the next potential price targets lie around $8.00 – $8.50, as momentum traders could push the price higher.

However, the Relative Strength Index (RSI) at 69.38 signals caution, as it is approaching the overbought threshold of 70. This shows that buying pressure may be reaching a peak, increasing the likelihood of a pullback.

If the price fails to break the $7.00 resistance level, a rejection could lead to a correction towards $5.50 – $5.80, with a more substantial decline potentially testing the $4.30 – $4.32 support zone, which aligns with key LuxAlgo trendlines.

For traders, the next move will depend heavily on how the price reacts at $7.00. A confirmed breakout above this level with strong volume could signal the continuation of the bullish trend, whereas a rejection could lead to short-term weakness.

BTC Bull Token Presale Zooms Toward $3 Million – Next Crypto To Explode

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