Story [IP] Bulls Battle Bears at $10: What’s Next After 30% Surge?

Bulls just scored a decisive victory—pushing Story [IP] past the critical $10 resistance with a blistering 30% rally. Now the real question emerges: can they sustain momentum or are we looking at classic crypto volatility?

Market Mechanics Unpacked

That 30% surge wasn't random—it shattered bearish defenses and triggered a cascade of short liquidations. Trading volume tripled, funding rates flipped positive, and open interest screamed institutional participation. This isn't retail FOMO anymore.

Key Levels to Watch

Hold above $9.50 and the path clears toward $12. Break below and we're testing $8.20 support. Simple as that. The charts don't lie—though some fund managers might.

Macro Meets Crypto

With traditional markets looking shakier than a Twitter promise, capital continues rotating into high-conviction altcoins. Story [IP]'s narrative—plus actual utility—makes it a prime candidate for that smart money flow.

Final Take

This rally either marks the beginning of a new leg up or another glorious trap for overleveraged degens. Either way—grab your popcorn. Because when bulls and bears clash at key levels, someone's about to get rekt.

Key Takeaways

Story [IP] has extended its Q3 recovery to over 270% amid bullish catalysts like buybacks and network traction. But can bulls push higher?

Story Protocol [IP], the platform that promises to allow creators to have intellectual property (IP) over their creations, mooned over 30% this week after an explosive +20% MOVE in the past 24 hours alone. 

Since July, IP has rallied over 270%, from around $3 to over $10.

Apart from the broader market recovery in early Q3, IP recovery also benefited from $82 million buyback program and the crypto treasury announced at the end of August. 

The latest move also coincided with a small but noteworthy revenue jump from $24 to $734. This implied a 30x improvement. But can it stay above $10?

Bears and bulls battle for $10

Source: IP/USDT, TradingView

At the time of writing, bulls were rebuffed NEAR $12, and the price hovered around $10, a key psychological and an extended Fibonacci level.

But the daily RSI tagged the overbought territory, implying a cool-off and slight retracement could be due. 

Even so, bulls still have a market edge and could push higher. Hence, a dip to $9 could be a buying opportunity for late bulls, targeting $10 or the next upside target at $15.

A sustained drop below $9 and the 20-day EMA (Exponential Moving Average) could dent this bullish near-term thesis. 

Story’s network traction doubles

Source: DeFiLlama

Additionally, IP’s traction has doubled in September. According to DeFiLlama, DEX Volume increased from $3.5 million to $7 million. Hence, the network growth also partly added to the rally seen in the past few days. 

That said, there were liquidity pools and price magnetic zones at $7.5 and $10. This could attract price action if IP’s cool-off extends below $9. 

Source: CoinGlass

However, if bulls hold above $10, they could attempt another run towards $15 if market sentiment remains positive ahead of inflation data and the Fed rate cut decision. 

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