Story Protocol Price Soars 33% with 170% Trading Volume – Bulls Target $8.99 High

Highlights:

• The Story Protocol price soars 33% to $4.60 as trading volume spikes.
• Story Protocol tokenizes creators’ intellectual property and uses decentralized and programmable assets for monetization.
• Technical indicators suggest a potential upside, as the bulls target the $8.99 ATH.

Story Protocol (IP), a newly listed token across multiple exchanges, price boasts a strong bullish outlook, soaring 33% to $4.60 at press time. Its trading volume has notably spiked 170% to $1.47B, signaling heightened market activity. With the current bullish momentum in the market, a crypto analyst has predicted a potential rally to $20 in the coming days. 

$IP IS INEVITABLE

NEXT TARGET OF IP IS 20 DOLLERS??@UnleashBenjamin pic.twitter.com/AFT40RDVGH

— Cryptokote (@CryptokoteO) February 20, 2025

Story Protocol is revolutionizing IP ownership on-chain. It tokenizes intellectual property for creators and uses decentralized and programmable assets for monetization. It was built to reshape the rights of digital content on Web3.

IP Statistical Data

Based on CoinmarketCap data:

• IP price now – $4.60
• Trading volume (24h) – $1.47 billion
• Market cap – $1.14 billion
• Total supply – 1B
• Circulating supply – 250M
• IP ranking – #73

The Story Protocol price trades well within a descending triangle, exchanging hands at $4.63. The bulls show signs of recovery after early profiteering from the $8.99 high, finding support at $4.47. The 50-day MA (4.37) is above the 200-day MA (2.55), 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.

The next immediate resistance level is at $5.04, and a breakout above this could pave the way for the Story Protocol price to retest the key $5.98 resistance. If buying pressure increases, traders could see IP reclaim its recent ATH at $8.99.

Story Protocol Price Poised for a Breakout Above Descending Channel; Bulls Aim $8 Mark

After a slight retracement, IP is currently holding the ground above the 50-day and 200-day moving averages, allowing the bulls to sweep through liquidity. This shows that buyers may continue to have the upper hand in the price movement and could easily push the coin toward the potential resistance levels of $5.05, $5.45, and $6.30. In other words, if the buying action fails to maintain the bullish movement above moving averages, the coin could instead settle for consolidation.

On the downside, support is established at $4.43, with stronger support at $4.36. If the IP Price fails to break above $5.04 and experiences a pullback, the 50-day MA at $4.36 could act as the first line of defense. A break below this level might push the price toward $3.98, $3.09, and $2.57, where buyers could look to step in. However, a bearish break below the $4.36 support could invalidate the bullish trend and trigger a deeper correction, potentially sending IP to lower levels.

Technical Indicators Show Potential Upside

A zoomed outlook at the Relative Strength Index (RSI) retraced from the 70-overbought territory currently roaming around 48.69. This suggests a neutral-to-bullish outlook as the bulls attempt a recovery. However, the RSI trendline is northbound, suggesting a potential upside. Increased buying appetite at this level could push the RSI above the 50-mean level, validating the bullish thesis.

Meanwhile, if Story Protocol’s price remains strong above $4.36, it is set to continue its upward trajectory to $6.71 or even higher. However, a fall below the 50-day MA may trigger a correction to lower levels, where buying interest will push the prices higher again.