Story Protocol worth eyes new ATH, buoyed by Upbit itemizing and whale buys

Discover key highlights within the Crypto area. This article dives into: “Story Protocol price eyes new ATH, buoyed by Upbit listing and whale buys”.

IP worth is up 14%, buying and selling simply 8% beneath its all-time excessive, fueled by its current Upbit itemizing. However, because it nears ATH, the chance of a whale-driven sell-off looms massive.

Story Protocol (IP) worth is surging, up 14% up to now 24 hours, with buying and selling quantity skyrocketing by over 800% — seemingly fueled by its current itemizing on Upbit. 

The worth has damaged above the important thing native resistance zone round $6.20–$6.30 and is at the moment buying and selling at $6.76. It’s now nicely above each the EMA 7 and EMA 20, with a bullish crossover between the 2 MAs and a widening hole, which indicators constructing momentum.

Source: TradingView

Since bottoming at $2.44 on June 19, IP worth has gained 173%, with a 30% single-day bounce on July 11 — seemingly pushed by two whale wallets (0x385D and 0xE0e6) scooping up a mixed 1.67 million IP tokens value over $7.4 million. That explosive transfer triggered the EMA bullish crossover, kicking off an accumulation part that fueled the rally to the present peak.

Further momentum arrived on July 31, when Grayscale unveiled the Grayscale Story Trust, opening institutional channels for IP publicity. The announcement drove IP worth to check the $6.60 resistance, however sturdy promote stress capped the advance, leading to a taking pictures star candle.

ATH or whale dump: what’s subsequent for IP?

Considering these catalysts and the present technical setup, IP worth seems poised to make a brand new ATH, at the moment buying and selling roughly 8% beneath the earlier ATH of $7.33 reached in February — if it could maintain momentum above the $6.30 breakout zone. However, it seems a bit prolonged from the 20-day EMA, which can result in short-term pullbacks or consolidation.

It’s additionally value noting that these whales who purchased on July 11 are actually up 30-40%, so if they’re nonetheless holding, a sudden dump from them may set off a pointy pullback or consolidation.

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