The Story (IP) price has suddenly turned lower after a strong rally, catching many traders off guard. The timing is important because the drop came right after the recent catalyst window that helped push the price up.
That’s why many are calling it a classic “buy the rumour, sell the news” move. In crypto, prices often rise ahead of big updates or listings, and then traders sell as soon as the event happens to lock profits or cut risk. Now the focus is on whether IP is just cooling off after an overheated run or if this selling is strong enough to start a deeper downtrend.
Why Is the Story (IP) Price Plunging?
Story (IP) is trading around $2.36, down over 31% in the past 24 hours. Its market cap is near $821M, while 24-hour volume is roughly $333M, both down by 28% to 30% in the past 24 hours. This is showing heavy selling activity while the traders still continue to hold some bullish sentiments. But why is the price marking over a 30% pullback for the second consecutive day?
- Post-rally profit-taking / “sell-the-news” behavior: traders often dump after a catalyst window instead of holding through volatility.
- Overheated move → mean reversion: sharp rallies tend to unwind fast once momentum cools.
- Leverage flush: when price drops hard on big volume, it often includes long liquidations and forced selling.
- Unlock overhang fear: vesting/unlock trackers show a near-term unlock event, which can spook traders into de-risking.
- Thin liquidity effect: IP can move violently when sellers hit bids in size, accelerating the slide.
What’s Next for Story (IP) Price?
The short-term price action of the Story price shows extreme volatility as volume has exploded both on the buyer side and seller side. The sellers continue to dominate the rally, probably due to the traders continuing to squeeze profits after the latest upswing. Has the IP price rally cooled down? Will the Story price drop below $2?
Since the start of the year, the IP price has been rising, holding the ascending trend line as a strong support. Now that the bulls are waiting for a good entry point, the price is believed to break the local support at $2.29 and reach the trend line at $2.2. If the bulls fail to trigger a rebound at this point, the bears may drag the price to an important trend reversal area at $2. As RSI is close to reaching the lower threshold, a rebound from $2 appears to be happening in the next few hours.
Despite the upward pressure, the sentiments around Story remain bullish, which suggests the current pullback could be short-lived. Therefore, the IP price is believed to experience a strong rise, once the selling pressure is absorbed completely, no matter if it reaches its initial levels.