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crypto.news 2025-07-07 10:46:19

Story Protocol price breaks out of accumulation range, targets $4

Story Protocol price breaks out of accumulation range, targets $4

Story Protocol price has broken above the upper boundary of the accumulation range, eyeing a potential move toward the $4.00 target, based on a bullish pattern. Story Protocol ( IP ) price is up 10% in the past 24 hours, currently trading at $3.21, with trading volume surging nearly 300%. After recently bouncing off the lower boundary of the accumulation range, the price has now tested the upper boundary, reaching an intraday high of $3.40 today. This surge has brought the price to the neckline of a confirmed double bottom pattern, with the two bottoms forming at the range’s lower boundary around $2.80 — a strong support zone tested four times. The latest test triggered a sharp rebound on rising volume, reinforcing the breakout’s potential. A confirmed breakout would require a 4H or daily close above the neckline around $3.3. If confirmed, the pattern implies a measured move target near $3.8 – $4, based on the depth of the formation. An ascending trendline connecting higher lows since June 18 reinforces the bullish outlook. Additionally, the price broke above both the 20 EMA and 50 SMA after bouncing from the second bottom, with the 20 EMA crossing above the 50 SMA in a bullish crossover. Source: TradingView You might also like: Story Protocol jumps 15% as whales buy $47M in tokens, platform teases upcoming ‘Big things’ The IP price rebound comes after a major development on the fundamental front. On June 24, Story Protocol announced it had partnered with OKX Ventures to launch a $10M fund for startups. The fund aims to support early-stage teams creating infrastructure and applications that transform IP into programmable, on-chain financial assets. Selected startups will receive capital, technical guidance, and access to Story’s and OKX’s resources, accelerating innovation in IP tokenization , licensing solutions, and AI data marketplaces. “We’re backing founders who see IP as an on-chain financial opportunity and are designing the infrastructure, apps, and markets to support it,” the Story team wrote in a blog post . You might also like: Dogecoin price rebounds, eyes $0.26 if momentum builds

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