The post Story IP Price Hits New ATH, Can Bulls Push Toward the $17.46 Target? appeared first on Coinpedia Fintech News
Story IP has continued its moonish run, chugging up 14.77% overnight to find base near $14.14. With its market cap soaring to a healthy $4.4 billion and daily trading volume up 90% to $542.77 million, the token is the talk of the town. With the token setting a new all-time high at $14.89 just hours ago, the question now is whether momentum can keep pace or if a short-term cooldown is likely.
Why is IP’s Price Up Today?
Wondering what led to the run? Behind the rally lies a mix of technical and fundamental drivers. The September 10 listing of IP/JPY on Japan’s largest exchange, Bitbank, fueled a 31% price surge. Which expanded liquidity and attracted retail demand.
Institutional confidence has also played a major role. Successively, Grayscale’s launch of an IP-focused trust and Heritage Distilling’s $82 million token purchase have brought in credibility. Meanwhile, Story’s partnership with Worldcoin to verify IP ownership onchain further strengthens its positioning in the AI and digital rights narrative.
Story IP Price Analysis
From a technical perspective, IP price has broken decisively above the critical Fibonacci resistance at $12.67. The token now trades comfortably above its major moving averages, with the 7-day SMA at $10.92 and the 30-day SMA at $8.64, signaling sustained upward pressure.
The RSI-14 sits deep in overbought territory at 73, reflecting strong buying activity but also hinting at exhaustion risks. That being said, looking at the chart, the key levels to watch include $14.914, the recent swing high. A breakout above it could open the path toward the 127.2% Fibonacci extension at $17.46. Contrarily, a drop below $12.581 may encourage traders to lock in gains, possibly cooling the rally.
However, still, sustainability questions linger. Protocol revenue remains under $50 daily, raising concerns about whether the lofty $4.4 billion valuation is supported by real-world usage.
FAQs
The rally was driven by the Bitbank listing, bullish technicals, and growing institutional support.
Resistance is near $14.914 and $17.46. Support rests around $12.581.
Yes, with RSI above 70, IP is overbought, suggesting a possible short-term pullback.