Main to remember
- The Story Protocol led the parts of AI on the second day of the vision of altcoin gains, with a liquidity zone and a chain activity supporting this increase. However, IP faces a key test at $ 5?
The cryptographic markets continued to increase after the potential start of the Altcoin season, as indicated in an anterior ambcrypto analysis, where the alts surpassed bitcoin.
Among the artists are AI pieces, which have been directed by Story (IP), Injective (INJ), among others.
For IP, the Altcoin won 25% per day while the volume was $ 181.44 million, up approximately 170%. The ATH was still $ 8.96 or a drop of around 52%, with its hollow of the day to $ 3.59.
The elevation of IP prices was an indication that the trigger for the continuity of the upward trend was always a possibility.
In fact, the price of the token crossed the descending channel and moved above the resistance, which bordered the upper advances. The top of the canal was more than $ 7 while its bottom was $ 2.5.
At the time of the press, IP was negotiated at $ 4.386 and seems to go to the lower limit of the model at $ 3.80, where a decisive decision – or a rebound or a breakdown – can occur.
Buyers have led to the costs
Source: tradingView
Naturally, the monetary flow index (MFI) at 77.46 reported high purchase pressure, almost at a level of surbound.
The inability to exceed $ 5 after the retest can lead to a drop in decrease to $ 3.60, a former support zone.
In addition, the purchase momentum was still in force because the volume of balance (REBR) was always appreciated.
However, if IP manages to recover $ 5 and return it in support, the thesis raised could remain alive.
Lever magnets show danger areas nearly $ 5
On the Coinglass thermal thermal thermal card, dense liquidation clusters were stacked between $ 4.5 and $ 5.08, including a high concentration area at $ 516,000.
Source: Coringlass
This level aligns perfectly with the IP of resistance has failed to conquer, which implies that it is not only the technical traders who look at this line – the lever effect is also loaded here.
In fact, if the price recovers this region, another series of short liquidations could take place up. But not to have $ 4.3 could just as well unravel the bullish momentum.
Evaluate the activity of the chain (IP) of history?
In addition, an activity of the chain on the history scan, he indicated that various important measures are currently increasing.
The cumulative transactions finished from the IP were 34.907 million transactions, while 253,807 represented the last 24 hours.
For global accounts, the number has crossed 772,858, while the active accounts were less than 10,000.
The total approaches 3.83 million as new transactions have remained stable since July 29, and the total volume of IP transfers amounted to 1.789 million, at the time of the press.
In addition, active accounts also indicated a growing commitment, with a significant increase in early July.
Source: History analysis
The contractual activity supported this increase in participation. In the past two weeks, 2,742 new contracts have been confirmed, which has increased the total number of 321,935.
Such peaks in chain deployments often precede the adhesion of the platform, and in this case, support the thesis that it is not only a pump of a day.
