Story Protocol Price Pumps 37% Following Its Mainnet Launch – Bulls Eye $10 Mark

Highlights: 

• Story Protocol soars 37% to $6.46 as trading volume spikes 182%.
• The recent rally follows IP’s mainnet launch and its debut on BingX. 
• Technical indicators suggest a potential upside, with the bulls targeting the $10 mark. 

The price of Story Protocol has risen by 37% in the past 24 hours, signaling strong bullish momentum. Alongside this increase, trading volume has also picked up 182%, indicating heightened investor interest, even as BTC trends downward. IP boasts a 172% rise in the past week and 129% in a month. 

The rally follows Story Protocol’s mainnet launch as IP debuted on BingX. Further, the strong bullish momentum was driven by strong demand and whale accumulation in the market, which saw IP skyrocket from $1 to $7.05 intra-day high before stabilizing around $6.46.

🚀 $𝐈𝐏 𝐒𝐮𝐫𝐠𝐞𝐬 𝐎𝐯𝐞𝐫 𝟏𝟎𝟎% 𝐅𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐌𝐚𝐢𝐧𝐧𝐞𝐭 𝐋𝐚𝐮𝐧𝐜𝐡!

The #IP token debuted on BingX, skyrocketing from $1 to $6.5 ATH before stabilizing around $4.9—driven by strong early demand and whale accumulation.

📈 7D Gain: +152.45% 🔥
📈 24H Gain:… pic.twitter.com/9PNrS9Rv7h

— Blockchain Bulletin (@thebbcrypto) February 25, 2025

Story Protocol Price Outlook

Based on the IP/USD daily chart, Strory protocol is sustaining its upward momentum, with the price currently trading at $6.46. The bulls are showing resilience as the token trades above all the moving averages, showing intense buying pressure in the market.

Further, the 50-day MA ($5.42) exceeds the 200-day MA ($4.62), signaling short-term bullish momentum. Meanwhile, as long as the price stays above the 50-day MA, the market remains in a strong position to push higher.

Further resistance may emerge at $7.05, the token intra-day high. If early profiteering commences, the Story protocol price could test its immediate support at $5.42, aligning with the 50-day MA. Should the selling pressure persist, subsequent supports could be found at the $4.64 and $3.60 levels.

IP Price Cup and Handle Pattern Hint at a Bullish Continuation

Story price currently shows considerable strength, positioning itself as one of the top-performing cryptocurrencies. Against USD, IP demonstrates significant upward momentum, fueled by technical indicators. Historically, IP price struggles to break the $6.86-$7.49 resistance levels without strong market conditions and higher trading volumes.

The bulls are showing strength, forming a stable base for potential upward movements. Looking at the daily chart, the IP price reveals a continuation of bullish momentum as the price trades at $6.46, comfortably above both the Moving Averages.

The cup and handle pattern supports the upward trend, with the next significant resistance levels at $6.86, $7.49, and $9.49, respectively. If the price sustains this upward trajectory, a breakout above this resistance could signal further gains, potentially leading toward $10 in the medium term.

Technical Indicators Show Potential Upside

Currently, the RSI is above the mean level, reading 62.98; therefore, the token is in a bullish momentum but is not overbought. This means there is room for further upside before reaching conditions above the 70 mark. Moreover, the daily low is $6.32, while the token has climbed to $7.05 on the upside. This slight fallback has only been a consolidation on the pattern’s handle, which is usually a signal of an imminent breakout.

Market participants should closely monitor price action near the $7.05 zone. A decisive breakout could herald a continuation of Story protocols’s broader uptrend, while a lack of momentum might signify a consolidation or potential reversal in the prevailing trend.