Story (IP) Price Prediction: In the past week, it has risen over 20% and broken through a key resistance level, targeting $5.59.

The Story (IP) Token performed outstandingly in today's trading, despite an overall market pullback, with IP rising by 3%, continuing its strong upward momentum since July 11. The price of IP has increased by over 20% in the past week and continues to surpass the downward pressure of the overall market. Analysis shows that the upward momentum of IP is still ongoing and is expected to rise further.

IP price continues to rise, breaking through key technical support levels

The native token of Story, IP, is currently trading at $5.11, solidly standing above a key technical support level, providing a solid foundation for its rise. According to the IP/USD daily chart, the IP token has been steadily rising since July 11 and has consistently remained on an upward trend line. This trend line indicates that the price lows are gradually rising over time, showing strong and sustained buying interest.

This trend line acts as dynamic support; despite the recent market being slightly weak, it still supports the rise in IP prices. With market fluctuations, the price of IP tokens continues to rise, attracting more and more investors' attention.

IP recorded a $5 million spot fund inflow, market demand continues to rise

In addition, the spot capital inflow of IP remains stable, further proving the continued interest and confidence of investors. According to Coinglass data, despite the market generally being in a profit-taking phase, IP recorded over $5 million in net spot inflows in the past four days.

The net inflow in the spot market means that the funds purchased through the spot market exceed the outflow, indicating a sustained increase in market demand for IP, and investors are confident about the future prospects of IP. Although there was a net outflow of $157,000 in the spot market today as some traders locked in profits, the overall market sentiment remains positive.

Futures traders bet on IP to continue its pump

The positive on-chain activities further solidified the expectations for a short-term rise in IP tokens, a sentiment that is also recognized by futures traders. The funding rate for IP has remained positive since July 20, with the latest data showing a funding rate of 0.0055%. The funding rate is a periodic fee between long and short traders in the perpetual futures market, helping to keep the contract prices aligned with spot prices.

A positive funding rate indicates that futures traders are paying a premium to hold long positions, suggesting bullish market sentiment. The funding rate for IP is positive, indicating that futures traders are confident about the future performance of IP, further enhancing the pump momentum of IP.

IP breaks through the $4.92 resistance level, possibly moving towards the $5.59 target

The continuous rise of IP has broken through the long-term resistance level of $4.92, a price range that has troubled it for several months. If this price level turns into a solid support, IP may continue its upward momentum, targeting $5.59, which was the high point in March this year. However, if market demand weakens, IP may pull back and test the $4.92 support level. If it fails to hold this support, a deeper pullback may occur, with prices potentially dropping to $3.83.

Conclusion: The strong rise of the Story (IP) Token has not been affected by the market pullback. Current capital inflows and futures market sentiment indicate that IP has further rise potential. Investors should pay attention to the price trends after IP breaks through key resistance levels, closely monitor changes in market demand, and implement appropriate risk management.