🚀 Story Protocol (IP) Daily Surge of 10%: Is it a Dead Cat Bounce or the Start of a Reversal? 📈
Today, Story (IP) token has experienced significant volatility, rising as much as 10.75% during the day. Let's take a look at the technical data and analyze whether now is the right time to enter the market.
📊 Technical Analysis:
Current Price: $1.257 Trend Resistance: The current price is still far below the key moving averages: MA-20 ($1.422), MA-50 ($1.948), and MA-200 ($4.661). This indicates that the overall bearish trend remains solid. Indicators: Most oscillators are showing oversold conditions, which has triggered the current technical rebound.
⚖️ Traders Union Expert Opinions:
🐻 Anton Kharitonov holds a pessimistic view. He believes the current rise is just intraday noise lacking fundamental support. The main risk is that if it breaks below the $1.097 support level, the price could decline further.
🐂 Viktoras Karapetyants sees an opportunity. He notes that buying interest has rebounded, and believes that once it effectively breaks through the $1.902 resistance level, it will completely change market momentum and initiate a bull market.
🎯 Trader Focus Levels:
✅ Resistance Level: $1.902 — Confirmation point for trend reversal.
🆘 Support Level: $1.097 — Key defense line; breaking below this level could trigger accelerated declines.
Summary: Before the price breaks through $1.90, bears still dominate. However, high volatility provides arbitrage opportunities for short-term traders.
Do you think IP will surge towards $2 or continue to test the bottom? Feel free to discuss in the comments! 👇
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