The crypto money market gives signs of recovery after recent stagnation. Despite the stagnation in the market, some tokens such as Story (IP) attract attention with their performances. Altcoin was one of the best performance tokens in the market, increasing a strong increase during the day. Will he continue this rally, or will he go down? Crypto analyst Abiodun Oladokun, evaluates the technical data and appearance of the token.
Indicators K for Altcoin Pointing out that the Azanç will continue It is saying!
The visual -hour graph of Story (IP) shows the Aroon Upper line of crypto money as 100 %. This indicates that the current rise trend is strong, supported by a significant demand and is not caused by speculative processes. The aroon indicator of an asset measures the power and direction of a trend by following the time since the highest and lowest prices in a certain period. It consists of two lines: Aroon Up and Aroon Down following the bear momentum measuring the bull momentum.
As with the IP, the Aroon Up line is at 100, which means that the presence has recently reached a new summit. It also gives a signal of a strong upward momentum and a dominant rise tendency. This indicates that the procurement pressure is high and the price may continue to rise.
IP Aroon indicator. Source: TradingViewObviously, at the time of the IP’s Aroon Down Line at 0 %. This shows that the crypto money did not record a new low level during the examination period. These conditions, which emerge simultaneously, show that IP witnesses a strong bull trend with minimum downward printing. In addition, the moving average convergence deviation (MACD) installation supports this bull appearance. During the article, IP is located on the MACD line (blue) signal line (orange). When this momentum indicator is adjusted in this way, it shows the bull momentum that suggests that the price of the token may continue to rise.
IP Macd. Source: TradingViewIP Price Estimation: There are 4 dollars on the target, but…
A continuous purchase pressure in the markets will carry IP to new peaks. If this rise acceleration is maintained, Altcoin may increase the price increase and may rise above $ 4 in the near term. However, the values taken from the relative Power Index (RSI) show that the asset is overly purchased and is at risk of price correction. During the article, this indicator points to the 83,69 level.
The RSI indicator measures the market conditions of an asset excessive purchase and over -selling. This value varies between 0 and 100. While the values of over 70 show that the asset is overwhelmed and that they may experience a price drop, the values below 30 indicate that the asset is overly sold and may witness a recovery. The RSI value of the IP, which is 83.69, points to a potential correction in the near term. If this happens, the price of Altcoin may drop to $ 1.69.
IP Price Analysis. Source: TradingViewThe opinions and estimates in the article belong to the analyst and are not definitely investment advice. Kriptokoin.comWe recommend that you do your own research before investing.
