IP defended the wider market down after the recent list of Kraken, supported by current ecosystem developments.
Story (IP) collected almost 16% to an intraday highlight of $ 5.6 on 11 March, afternoon Asian time, which shot from the Bearish -trend as the market haircut rose to more than $ 1.3 billion. The daily trade volume was $ 151 million, while the circulating range of Altcoin was more than 250 million tokens.
A large number of partnerships and developments around the story have helped to surpass the bearish trend that currently prevails in the wider Crypto market, which fell 5% from the moment of the press last day.
First, the story has one offer On the crypto exchange crack on 10 March. Usually a list of such a top crypto exchange leads to a peak in investor interest, which often results in an increased trade volume and price rating in the following days.
Secondly, the story continued to progress on his route map to expand its ecosystem. The latest development is the launch of the IP portal, which was opened on 7 March for a public preview.
The platform makes it easy for users to register seamless IP and to browse a registered IP in every app in the story. Investor sentiment and trust usually rise when a project remains true to its obligations.
Third, the story protocol has integrated With the decentralized exchange, orderly, to improve its ecosystem by unlocking greater liquidity for Tokenized intellectual property. This partnership has able to access developers to access deeper market depth and tighter spreads, making it easier to trade and earn IP assets, such as AI training data, patents, brands and digital content within decentralized applications.
In addition, the ecosystem of Story Protocol is growing thanks to the construction program. Story Academy helped launch 38 projects in different areas such as IPFI, AI and consumers apps. Some projects, such as Sekai, Magma and Mahojin, have even received subsidies and financing from big names such as A16Z, Hashed and Orange Dao.
IP -Price analysis
On-chain statistics and technical indicators suggest that the profit could stretch in the coming days.
According to facts From Coinglass, the story has been experiencing continuous net outflows of fairs since the launch, indicating that most traders are bullish about the long-term potential of the token.
In the meantime, the social sentiment has also turned positively in the past day.
On the 4-hour price diagram, the MacD and signal lines have been directed upwards and have risen above the price level, an indication that Bullish Momentum is built.
The Arron Up indicator at 92.86% and the Aroon with 14.29% confirm a strong purchasing pressure, which indicates a persistent dominant upward trend.
If the momentum continues, IP could further collect and try to re -test the psychological resistance of $ 6, which could not break it earlier this month. A successful outbreak above this level could also push IP beyond the falling parallel channel in which it has been detained since the end of February.
Such an outbreak is generally seen as a trend. However, persistent market insecurity, especially from escalating trade tensions in the US china, could, however, undermine this momentum.
At the time of the press, IP had still risen by 6%, exchanging hands at $ 5.46 per coin.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
