SUBBD Token (SUBBD) Price Pumps 8% as Trading Volume Skyrockets 96%

The IP price has recently mounted a notable recovery, climbing from a swing low around $2.40 (April lows near the 0.786 Fibonacci level)

The Story price today surged 8% to trade at $4.95. The IP price has risen sharply from its April lows of around $2.40.

For the unversed, the Story price had touched a low of $1.9 in December 2022, and it went on to rally to a high of $7.34 in August 2023. The price remained largely range-bound after that, and it started to decline again in November 2023.

However, the recent recovery in the IP price could be seen as a sign that buyers are returning to the cryptocurrency. This could be driven by a number of factors, such as the increasing adoption of blockchain technology and the potential for cryptocurrencies to generate returns in an inflationary environment.

Story Price Aims For Key Resistances

The current price of Story is pressing against a key Fibonacci resistance level at 0.382 ($4.94), which aligns closely with recent price consolidation. If buyers sustain momentum, this indicates a possible breakout setup.

The price of Story is also trading above both the 50-day Simple Moving Average (SMA) ($4.21) and the 200-day SMA, which is a constructive signal indicating a potential shift from a bearish to a more neutral-to-bullish structure, according to GeckoTerminal data.

The Relative Strength Index (RSI) is at 63.46, reflecting bullish strength without being in overbought territory. This suggests that the price still has room to run before momentum becomes overheated.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator shows a bullish crossover. The blue MACD line is above the orange signal line, and both trend upward. The histogram is positive as well, indicating that bullish momentum is building.

IP Price Prediction

With ongoing consolidation just beneath the 0.382 Fibonacci level ($4.94), the IP price appears to be building energy for a potential breakout. A decisive move above this resistance could open the path to the next Fibonacci level at $5.86 (0.236 retracement).

If bullish momentum persists and macro conditions are favorable, a retest of the swing high at $7.34 is also plausible in the intermediate term.

However, failure to break above $4.94 may lead to a minor pullback for the Story price towards $4.21 (0.5 Fib level and 50-day SMA support), which would be a critical zone for bulls to defend.