IP’s Recovery Fizzles Out? Decoding Story’s Price Action and Conflicting Signals in Today’s Crypto Rollercoaster

Is IP’s comeback already running out of steam? The token’s price action paints a messy picture—bullish breakouts one minute, bearish rejections the next. Here’s what the charts scream as traders cling to hopium.

Key Levels to Watch

Support crumbles like a stale cookie while resistance holds tighter than a VC’s purse strings. The 50-day MA? More like a suggestion than a rule lately.

Mixed Signals, Maximum Chaos

RSI flirts with overbought territory while volume dries up—classic ‘wait and see’ from retail as whales play ping-pong with the order book. Another day in crypto’s casino economy.

Bottom Line: Until IP decisively breaches either side of this consolidation, it’s all noise. And let’s be real—when has crypto ever pick a direction quietly?

Source: IP/USDT on TradingView

The 12-hour chart highlighted some hope of a recovery in the FORM of a bullish market structure break. Highlighted by the cyan line, IP made a new local high. The trading volume during this structure shift was high, but it tapered off over the past couple of days.

The OBV seemed yet to reclaim the levels it had been at earlier this month. This could be an early signal that buying pressure was relatively weak. The bullish internal structure appeared to have been overpowered by the bearish swing structure. Based on the swing MOVE earlier this month from $4.26 to $2.44, Fibonacci retracement levels were plotted too.

The upward momentum of the past week was not yet firm. Especially since the RSI was yet to cross the neutral 50 threshold. Combined with the weak demand, IP might have a difficult time climbing past the $3.34 resistance level.

Further north, the $3.64 and $3.86-levels would be the next resistances where a bearish reversal could occur.

Liquidity provides a clue for traders looking to go long

Source: Coinglass

The 2-week liquidation heatmap revealed that there were two considerably strong magnetic zones at $2.5 and $3.44. They were both almost equidistant from the press time market price of $2.94. The liquidity cluster to the south at $2.42-$2.5 was slightly denser too.

Given the bullish structure on the 12-hour chart, it looked likely that IP might push higher. At the same time, the lack of high demand could stall Story’s bullish progress and even lead to a minor dip.

Hence, traders can also look to go long at the $2.85 zone, another nearby liquidity cluster. A tight stop-loss at $2.78 would be feasible, since a pullback can’t be ruled out, especially if Bitcoin faces volatility.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion