- STORY/USD surged to $6.50 before correcting toward $4.35, where key support is being tested.
- The 50 EMA at $4.36 and the 100 EMA at $4.32 are acting as critical levels for price stability.
- A bearish breakdown could send the price toward $4.20, while a recovery above $4.50 may spark renewed momentum.
Story (STORY) has seen increased price swings in recent trading, surging to a high of $6.50 before entering a correction phase.
The price is now around $4.35, testing a crucial support level that could decide the token’s next move. Traders are closely watching to see whether this level holds or if further losses are coming.
Technical analysis suggests that STORY is forming a descending triangle pattern, typically a bearish signal. If sellers take control, a breakdown below $4.30 could lead to a further decline toward $4.20, with a deeper correction potentially testing the psychological support level at $4.00.
However, if buyers step in and push the price above $4.50, a retest of $4.70 could happen.
Mixed Signals from Technical Indicators as Traders Wait
Moving averages are offering key insights into the current market structure. The 20 EMA at $4.50 is acting as dynamic resistance, while the 50 EMA at $4.36 and the 100 EMA at $4.32 provide critical support levels.
A sustained move below these indicators could reinforce bearish sentiment, leading to additional selling pressure.
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Momentum indicators show a mixed picture. The Relative Strength Index (RSI) is at 40.19, indicating slight bearish momentum, but not yet in oversold territory. A further drop toward 30 could signal a stronger selling phase, while a bounce above 50 would indicate renewed bullish momentum.
The Bollinger Bands reveal that STORY is hugging the lower band, suggesting a potential bounce if buyers regain control.
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STORY’s Next Move: Hold or Break? Market Awaits
The next few trading sessions will be critical in defining STORY’s next trend direction. A strong defense of the $4.35-$4.36 range could lead to a short-term recovery, with the first resistance at $4.50 and a breakout level at $4.70.
If the price breaks below $4.30, it may lead to extended selling pressure, with $4.20 as the next target.
With market volume slightly below the 30-day average, traders are looking for a catalyst to drive the next move. Higher volume on a breakout above $4.50 could boost further gains, while declining volume on a breakdown would confirm bearish momentum. Investors should monitor price action closely, as STORY remains at a key level.
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