Ah, dear reader, gather ’round and behold the wondrous tale of Story Protocol’s price, which hath broken free from the shackles of its accumulation range, like a bird set loose from its gilded cage π¦. The target, a lofty $4.00, beckons like a siren’s song, based on a most bullish of patterns.
As I pen these words, the price of Story Protocol (IP) hath risen by a most respectable 10% in the past 24 hours, currently trading at $3.21, with trading volume surging like a mighty tidal wave, nearly 300% π. After a brief dalliance with the lower boundary of the accumulation range, the price hath now tested the upper boundary, reaching an intraday high of $3.40 today, a feat most impressive.
This surge, dear reader, hath brought the price to the neckline of a confirmed double bottom pattern, a most propitious omen, with the two bottoms forming at the range’s lower boundary around $2.80, a strong support zone tested four times, like a sturdy oak weathering the tempests π³. The latest test triggered a sharp rebound on rising volume, reinforcing the breakout’s potential, like a trusty steed galloping towards the finish line π.
A confirmed breakout, dear reader, would require a 4H or daily close above the neckline around $3.3, a hurdle most achievable. If confirmed, the pattern implies a measured move target near $3.8 β $4, based on the depth of the formation, a prospect most tantalizing.
An ascending trendline connecting higher lows since June 18, like a guiding star, reinforces the bullish outlook, a beacon of hope in the darkness π. Additionally, the price broke above both the 20 EMA and 50 SMA after bouncing from the second bottom, with the 20 EMA crossing above the 50 SMA in a bullish crossover, a most auspicious sign π.
And, dear reader, this rebound comes on the heels of a major development on the fundamental front, a partnership between Story Protocol and OKX Ventures to launch a $10M fund for startups, a most noble endeavor π€. The fund aims to support early-stage teams creating infrastructure and applications that transform IP into programmable, on-chain financial assets, a prospect most thrilling.
βWe’re backing founders who see IP as an on-chain financial opportunity and are designing the infrastructure, apps, and markets to support it,β the Story team wrote in a blog post, a declaration most bold π’.
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2025-07-07 13:56