Can Story (IP) Sustain Its 48% Rally?
Story (IP) has soared nearly 50% over the past 24 hours, making it the best performing asset in the market. The rally pushed IP to a new all-time high of $3.67 at an early trading session on Thursday.
With Strengthing’s buying pressure, AltCoin is expected to extend its earnings in the near term.
As indicator signals continue to grow, the story maintains a strong upward trend
Evaluate IP/USD four-hour chart Aroon Up Line showing coins in 100%. This shows that its current uptrend is strong, supported by huge demand, rather than being driven by the speculative industry.
The Aroon indicator of an asset measures the intensity and direction of a trend by tracking the time since the highest and lowest prices for a given period. It includes two lines: Aroon Up, which measures bullish momentum and lowers Aroon, which tracks bearish pressure.
Like IP, when the Aroon Up Line is at 100, this means that assets have recently reached new highs, marking a strong upward momentum and a dominant bullish trend. This suggests that buying pressure is high and prices may continue to rise.
The Aroon Down Line for IP is 0% at press time. This suggests that the coin did not record new lows during the review period. These conditions occur simultaneously, indicating that IP witnesses a strong up-down trend with minimal downward pressure.
Additionally, its moving average convergence difference (MACD) setting supports this bullish outlook. At the time of writing, the IP’s MACD line (blue) is located above its signal line (orange).
When setting this momentum indicator in this way, it indicates bullish momentum, indicating the momentum of the asset Prices may continue to rise.
IP Eye $4, but Super Qualified RSI Signal Warning
Continuous buying pressure in the spot market will lift IP to new highs. If this bullish momentum is maintained, Altcoin can maintain its price rally in the short term and exchange hands above $4.
However, the readings Relative Strength Index (RSI)) It is recommended to have too many assets and face the risk of price correction. At press time, this metric was 83.69.
this RSI Indicators can measure the overbought and oversold market conditions of assets. Its ranges from 0 to 100. Values above 70 indicate that the asset is over-purchased and depends on the price drop, while the value under 30 indicates that the asset is over and may witness a rebound.
The IP’s RSI at 83.69 hints at short-term potential correction. If this happens, Altcoin’s price could drop to $1.69.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
