Story Protocol (IP): AI altcoin jumps to a new all-time high

• The Layer-1 blockchain Story Protocol (IP) was one of the absolute outperformers among the largest cryptocurrencies in September. In the last seven trading days alone, the IP price climbed by 42 percent.
• At the beginning of the week, the AI project, which aims to transform intellectual property (IP) into a programmable asset class, reached a new all-time high of $15.04.
• Story Protocol uses blockchain technology to enable tokenization of copyrighted content into digital assets.
• If the IP share price can continue its bullish trend in the coming days and reach a new all-time high, the next price target of $19.58 will come into focus for investors. Should this target also be exceeded in the medium term, a move to $22.08 is conceivable.
• If the crypto market also proves bullish in the traditionally strong last trading quarter, an increase to the maximum price target of $26.13 cannot be ruled out.
• Should Story Protocol slip below the $13.04 mark by the daily closing price as a correction in the crypto sector expands, a retest of the support area around the interim high of September 9 at $11.87 should be expected. This is where the bulls are likely to attempt to turn the price north again.
• If this support level is abandoned, however, a correction extension toward $10.77 is likely. This price level has served as an important technical level in recent weeks.
• A break of this support level would bring last week's low of $8.99 into focus. Given the relative price strength, significant resistance from the buyers' camp is to be expected.
• If, contrary to expectations, the crypto market turns bearish in the coming weeks and Story Protocol is dragged south, the $8.01 zone would come into investor focus. This area was repeatedly breached at the beginning of the month, making it an interesting chart level.
• If the IP price fails to stabilize here, it could fall back to the area around the monthly low between $7.49 and $7.24. From a technical perspective, this area serves as a maximum bearish price target.

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Sources

IP/USDT on Tradingview