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 🐦. 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% 🌟. 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 🌳. The latest test triggered a sharp rebound on rising volume, reinforcing the breakout’s potential, like a trusty steed galloping towards the finish line 🐎.
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 – $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 🌟. 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 📈.
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 🤝. 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.
“We’re backing founders who see IP as an on-chain financial opportunity and are designing the infrastructure, apps, and markets to support it,” the Story team wrote in a blog post, a declaration most bold 📢.
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2025-07-07 13:56