• If Story closes a daily candle above $6.50, it could trigger a 42% rally toward its all-time high of $9.
• Today, IP’s traders are over-leveraged at the $5.85 level on the lower side and $6.54 on the upper side.

 Story [IP] is gaining attention with its impressive performance. CoinMarketCap data shows the recently launched asset surged over 13% over the past day.

This price surge suggests room for further gains. According to AMBCrypto, the token appears bullish, breaking out of a symmetrical triangle pattern on the daily chart. It also overcame resistance from a descending trendline.

The price has now hit $6.35, encountering modest resistance. If IP closes a daily candle above $6.50, it could surge 42% to $9, its all-time high.

Such a move might even set a new record for the asset. Recent price action and historical patterns support this potential growth.

At the time of writing, IP’s Relative Strength Index (RSI) is at 61, suggesting that the asset has strong momentum and still has enough room to continue its upside rally. 

During this time, its trading volume increased by 180%, reflecting growing interest from traders and investors, likely driven by the recent breakout.

Major liquidation levels 

However, this bullish price action is further supported by intraday traders, who are strongly betting on the long side, as reported by the on-chain analytics firm Coinglass.

Data revealed that traders were over-leveraged at the $5.85 level on the lower side and $6.54 on the upper side, with $4.91 million and $3.10 million worth of long and short positions, respectively.

These over-leveraged positions indicate that bulls are strongly dominating the asset, potentially supporting IP’s continued upward momentum.

Vivaan Acharya Journalist at AMBCrypto is a Mumbai-based crypto journalist with five years of real-world experience covering technology and finance. With a Master’s in Economics from the University of Delhi, he cut his teeth at a major financial daily where he honed his skills in data analysis and technical chart analysis while decoding market trends and corporate earnings. In 2018, Vivaan pivoted to the cryptocurrency space, authoring a thesis on "Payments and Stablecoin Integration in Banking" that set the stage for his deep dives into Bitcoin market analysis, Altcoin analysis, stable coin ecosystem development analysis, and studies of emerging crypto regulations. Known for his clear, no-nonsense approach, Vivaan blends robust research with straightforward explanations to demystify complex blockchain topics. His analytical insights empower readers to confidently navigate the fast-evolving digital finance landscape.