Story Price- Story Token at $2.94: Bullish Signs or Bear Trap?
Story Price– Story (IP) has been in a downtrend since May, but a recent bounce brought signs of optimism. A bullish market structure break on the 12-hour chart suggests a potential reversal, confirmed by a local high (cyan line). However, despite the strong volume during this shift, activity has cooled, indicating buyer enthusiasm may be fading.
At press time, IP traded around $2.94, with analysts watching for a possible dip to $2.85—a liquidity cluster that could offer a fresh entry point for some market participants.
IP’s next move may depend on Bitcoin’s (BTC) trajectory. A breakout towards $110,000 could boost altcoin sentiment. If BTC stalls or IP drops below $2.80, the market could tilt bearish again.
Technical Indicators Show Mixed Signals
While the bullish internal structure shows promise, the bearish swing structure from earlier this month still looms. The Fibonacci retracement from the $4.26 to $2.44 move suggests resistance near $3.34, $3.64, and $3.86—potential reversal zones if momentum fails.
The RSI remains below 50, and the OBV hasn’t reclaimed previous highs, indicating weak demand despite the structure shift.
According to a 2-week liquidation heatmap, there are strong liquidity magnets at $2.5 and $3.44. The $2.42–$2.5 region is slightly denser, hinting that a southward wick could occur before any breakout.
The current structure supports short-term upside potential for Story (IP), but low demand and macro volatility, especially from BTC, could cap gains. Traders watching IP may monitor $2.85 as a reaction zone, but a break below $2.78 could invalidate the short-term bullish case.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
