Looking to invest in Story Protocol but unsure when to make your move? Then you are in the right place. Let’s discuss the latest price action and dive into the technical indicators to understand where Story Protocol might be headed. The token has been under continued bearish pressure, moving in distinct downward channels, followed by tight trading ranges. Despite brief bullish sparks, the Story Protocol price has failed to sustain momentum above key levels. Let’s take a closer look at the price action and see what it reveals about near-term movements for this IP-focused asset.
Story (IP) Price Analysis for May 4, 2025
The Story price started May 3 at approximately $4.046, but sellers quickly took control, driving it down to $3.966 by 00:55 UTC. A MACD death cross occurred at 01:05 UTC, followed by an RSI oversold signal near 01:30 UTC. A tight trading range emerged between $3.960-$3.99 until 07:00 UTC, where a MACD golden cross tried to break the range, lifting the IP price briefly to $3.995 by 04:10 UTC. However, this attempt was cut short as a death cross formed at 06:00 UTC, leading to a downtrend. The next trading range formed between $3.898–$3.934, lasting until 08:55 UTC, when RSI dipped into oversold territory again.
Chart 1: analyzed by raodevansh18, published on TradingView, May 4, 2025
A golden cross at 09:10 UTC saw a marginal rise to $3.946, but this was followed by a quick death cross at 09:45 UTC and another steep drop. By 12:00 UTC, the Story price fell to $3.880. Some price consolidation occurred around the $3.91 price level. The next downward trend accelerated post 15:00 UTC, with a MACD death cross at 15:55 UTC, leading to lows of $3.730 by 21:00 UTC. Another bearish leg began at 21:15 UTC, pushing the Story price to 3.720 by midnight.
Story Attempts Recovery Today, Bullish Trend May Not Continue for Long
The Story price opened May 4 at $3.738, hovering just above key support. Early signs of a turnaround appeared when a MACD golden cross formed at 01:50 UTC, followed by some upward movement. The IP price rose for a moment, reaching $3.727 by 2:20 UTC. During this climb, RSI transitioned from oversold to above midline levels, suggesting rising bullish sentiment. However, the overall bearish trend continued, leading the Story price to $3.61 support by 9:35 UTC. A Story uptrend began from this point, with the current price consolidating near the $3.68 level. However, unless the bulls push above $3.70 decisively, the rebound may lose momentum in the upcoming hours.
Technical Indicators Suggest Correction Soon, Bulls Must Persist to Avoid Strong Downturn
Over the May 3 session, the MACD mostly displayed death crosses, each closely followed by price drops, while RSI frequently registered oversold readings, signaling persistent bearish dominance. However, May 4 has presented a notable change. The MACD has remained in a bullish crossover since 01:50 UTC, with histogram momentum increasing. RSI also entered overbought territory at 09:20 UTC, now retreating slightly. If this setup holds, the IP price may attempt to reach the $3.72–$3.74 band in the next few hours. Failing that, the Story price could consolidate back toward $3.64 before the next decisive move.
Market Indecisive in the Short-Term, Reversal May Follow Soon
Despite the recent upward move, caution is warranted. The IP price remains in recovery mode but faces stiff resistance near $3.700–$3.720, which has acted as a ceiling during prior attempts. Sustained MACD divergence and RSI support above 50 are needed for a credible Story breakout. Should bulls succeed in breaking the $3.72 mark, the next target could lie at $3.76. However, failure to do so may see the Story price retreat back into the $3.64 – $3.60 support zone. Until volume strengthens and resistance is breached convincingly, the broader sentiment for IP price remains cautiously bearish.
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