Story Protocol's stock (⟨c-43/⟩) fell 13% during the day to $3.047, showing sharp downward momentum, with warning signs from technical indicators.
The death cross formation is confirmed by the breakdown of the 50 and 20-day exponential moving averages, indicating long-term downward pressure since the May highs near $5,000.
Story Protocol's stock (⟨c-27/⟩) is under immense downward pressure, having dropped sharply in recent trading sessions. According to CMC data, the stock is trading at $3.07, down 13% for the day, showing a sharp downward trend. Technical indicators on the four-hour time frame are warning buyers, suggesting that the current downward trend is still extendable.
The highlight of the technical chart is the strong breakout of the 50 and 20-day exponential moving averages, which have served as dynamic support in most of the recent consolidation phase.
This further confirms the long-term bearish bias that has begun to form since the May highs near $5000. This negative crossover, where short-term moving averages cross below long-term moving averages, is a sign of long-term downward pressure.
What’s next for Story's price (⟨c-12/⟩)?
The MACD indicator points to weakening momentum, while the chart indicates a negative value, suggesting negative momentum. The signal lines have crossed downward and remain divergent, indicating increasing selling pressure. This technical anomaly suggests that recent upward efforts have not generated any sustainable buying interest.
The Relative Strength Index (RSI) provides further evidence of the downward trend. Currently, the RSI is at 18.62, now in the oversold territory, but this extreme reading does not always indicate an imminent reversal. The RSI's inability to stay above the midpoint of 50 in recent rebound attempts indicates weakening upward momentum.
The threshold indicator points to a stable trading volume pattern, with red bars dominating recent sessions. This selling, along with the technical breakdown, indicates that institutional and retail investors are busy reducing their risk exposure in Story Protocol.
Story is currently at critical support levels at the psychological barrier of $3000. A drop below this level could accelerate the decline to the next key support area around $2,500. To achieve any notable recovery, Story Protocol must break above the $3,648 level and demonstrate sustained buying pressure above the 50-day exponential moving average to shift the technical outlook to neutral. ⟨t-34/⟩
⟨t-54/⟩
