Story (IP) Price Surge 7%, But Bearish Sentiment Looms

• Story (IP) price analysis is bearish for the short term as well as for the long term.
• Story crypto price is in a strong downtrend trading below 50-day and 200-day EMAs.

Story price analysis suggests it remains bearish till it trades below $4.50 and $5.34 levels. However, the buyers are showing strength at lower levels preventing the price from declining further. Furthermore, the price is in a strong downtrend and trading below both the 50-day ($4.338) and 200-day (4.773) EMAs indicating sellers dominance

Currently, the Story price seems to be stuck in the narrow range between $3.80 to $4.30. It shows signs of base formation but the confirmation is still awaited. The price still has to break above the 50-day and 200-day EMA levels to confirm the bullish outlook.

However, bulls are active at a lower level and trying their best to push the price upside. According to CMC data, the trading volume has seen a slight increase in recent sessions Currently, the Story price is trading at $4.24 with an intraday increase of 7% suggesting mild bullishness.

Will Story (IP) Price Bounce Back?

Source: TradingviewStory price analysis favours the sellers until buyers succeed in breaking the $4.50 and $5.34 levels. The bears seem more active as compared to bulls and the price still has to face major resistance at the upside. So the probability of a bounce remains low

Till IP crypto trades below $5.34, it is expected to remain bearish. However, if the buyers managed to push the price above the 50-day and 200-day EMAs, then a bullish trend reversal might be seen

Moreover, if the Story price drops below the $4.00 level then more downside will open. The IP price analysis suggests that the price is forming a base near $4.00, and bulls are trying their best to rebound even though the trend is still bearish.

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