IP has introduced a consolidation phase and has recently put an end to the three -week downward trend that weighed at its price.
According to data from crypto.news, the story (IP) rose by 9% to an intraday highlight of $ 4.27 on April 9, afternoon Asian time. Market capitalization was almost 41.1 billion, while the daily trade volume was slightly higher than the previous day, around almost $ 100 million floating.
Today’s profit was fed by renewed optimism around a potential Binance list, because votes for the mention of the story under the “voice to list” campaign of the stock exchange in his last piece.
With a strong support from the community, IP seems like a strong contender for a list of the world’s largest cryptocurrency exchange per volume.
In addition, Aria Protocol, a leading IP-oriented project, powered by Story Protocol, recently unveiled The addition of partial royalty rights to pop artist Madonna’s hit single “I rise” in the launch vault of IP-supported music assets.
Meanwhile, Verio, the IP -design platform from Story, went live On April 8, so that users can set up IP and earn rewards based on the momentum of creative works.
As soon as a project touches 100 IP when turning off, the maker starts to earn from their royalty vault and anyone who has taken early shares to the benefit or deployed.
IP -Price analysis
On-chain statistics and technical indicators suggest that the profit could stretch in the coming days.
According to facts Van Coinglass rose open interest in the IP -Futures market to $ 62.23 million, compared to the previous day. Moreover, the weighted financing speed has remained positive in the past two days, indicating that most trader positions lean bullish at the time of writing.
On the USDT graph of 4 hours, IP broken from a falling channel of several weeks, which indicates a shift to Bullish Momentum.
Both the MacD and the signal lines are up and support the reversal. The price is also approaching the top bollinger band for $ 4.35, which suggests that constant power and the potential for an outbreak if bulls remain control.
That is why the following likely target for IP $ 5 is, which serves as a psychological resistance level and an important level of support for it. A break above could activate bulls to target the $ 6.4 key resistance level, which is almost 51% compared to the current price level.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
