Date: Thu, Jan 01, 2026 | 06:00 AM GMT
As the new year 2026 begins, the broader cryptocurrency market is showing modest weakness, with both Bitcoin (BTC) and Ethereum (ETH) trading slightly in the red. Despite this soft start among major assets, select altcoins are managing to outperform — including Story (IP), the native token of Story Protocol, a dedicated Layer 1 blockchain focused on decentralized intellectual property infrastructure.
IP is in spotlight with a nearly 6% daily gain, trimming its heavy 60-day decline to around 61%. While the longer-term trend still reflects recovery mode, the more important development is unfolding on the daily chart, where price action is beginning to signal a meaningful structural shift. If this setup plays out as expected, it could mark the early stages of a bullish continuation despite broader market pressure.
Source: Coinmarketcap
Rounding Bottom in Play
On the daily timeframe, IP appears to be forming a textbook rounding bottom pattern — a classic bullish reversal structure that typically emerges after an extended period of downside pressure. This pattern highlights a gradual transition from distribution to accumulation, where selling momentum fades and buyers begin to step in with increasing confidence.
Earlier in the trend, IP faced strong rejection near the $3.06 neckline zone, triggering a sharp and sustained decline through the final months of 2025. That sell-off eventually found a floor near the $1.42 level, which has since acted as a critical demand zone. Multiple defenses of this area prevented further downside and helped establish a solid base for a potential trend reversal.
Story (IP) Daily Chart/Coinsprobe (Source: Tradingview)
Since setting that bottom, IP has begun curving higher in a smooth, rounded fashion. This type of price action suggests that selling pressure is no longer aggressive, and that accumulation is quietly taking place. The recent recovery back above the $1.70 region reinforces this view, signaling that the market may be positioning ahead of a larger directional move.
What’s Next for IP?
For the rounding bottom structure to gain confirmation, IP needs to reclaim the 50-day moving average, currently positioned near the $2.172 level. A sustained move above this zone would mark a notable shift in momentum and confirm that buyers are regaining control after months of corrective price action.
Beyond that, the most significant technical barrier remains the neckline resistance around $3.06. A clean and decisive breakout above this area would validate the entire reversal pattern and could open the door for a broader bullish expansion phase, with momentum traders and sidelined participants likely re-entering the market.
Until those levels are reclaimed, the pattern remains in development. Short-term consolidation or minor pullbacks remain possible if IP struggles near the 50-day moving average. However, as long as price continues to form higher lows and holds above the $1.42 base, the broader bottoming structure remains intact.
Overall, IP is approaching a technically important inflection point. The emerging rounding bottom formation, improving price structure, and proximity to key resistance levels suggest the coming sessions could prove decisive for Story’s next major directional move as 2026 gets underway.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators discussed are subject to market volatility and may or may not yield the anticipated results. Investors are advised to exercise caution, conduct independent research, and make decisions aligned with their individual risk tolerance.
About Author: Nilesh Hembade is the Founder and Lead Author of Coinsprobe, with over 5 years of experience in the cryptocurrency and blockchain industry. Since launching Coinsprobe in 2023, he has been providing daily, research-driven insights through in-depth market analysis, on-chain data, and technical research.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
CryptoQuant: Ethereum Faces "Adoption Paradox," ETH Could Drop to $1,500
Ethereum is facing an "adoption paradox," with network activity reaching all-time highs while ETH price has declined significantly. CryptoQuant analysis indicates that if the bear market persists, ETH could fall to $1,500. The relationship between exchange inflows and price dynamics is more pronounced, suggesting ETH is facing strong selling pressure.
GateNews14m ago
Today's cryptocurrency Fear and Greed Index dropped to 15, with the market still in extreme panic mode
Gate News: On March 13, according to Alternative.me data, the Cryptocurrency Fear and Greed Index fell to 15 today, down further from yesterday's 18, with the market still in an "extreme fear state."
GateNews18m ago
ETH 15-minute increase of 0.79%: Liquidity phase decline and short-term fund arbitrage resonance driving upward momentum
March 13, 2026, 00:00 to 00:15 (UTC), Ethereum (ETH) experienced a significant upward price movement in a short timeframe, with the 15-minute interval return reaching +0.79%. The price range was 2070.45 to 2090.33 USDT, with a volatility amplitude of 0.96%. Market fluctuations intensified during this period, capturing traders' attention.
The primary driver of this price movement was a phase-wise decline in market liquidity. During this period, there were no on-chain large transfers, DeFi liquidations, or significant derivatives liquidations recorded. Major macro and industry news updates also showed no sudden events. During the Europe-US trading session
GateNews18m ago
BTC 15-minute surge of 0.84%: On-chain fund flow and technical breakout synergy drive volatility
March 13, 2026, 00:00 to 00:15 (UTC), BTC price fluctuated within the range of 70394.0 to 71116.3 USDT in just 15 minutes, with a return rate of +0.84% and volatility amplitude reaching 1.02%. During this period, mainstream market attention increased, driving active trading and notably elevated price volatility, reflecting a marked warming of market sentiment during this timeframe.
The primary driver of this price movement was large on-chain fund transfers and concentrated whale account buying activity. Historical on-chain data observations show that single transfers exceeding 1000 BTC have frequently served as catalysts for upward price movements.
GateNews18m ago
Oil prices soar past $100, U.S. stocks hit new lows for the year, Bitcoin holds steady at 70k
Due to the ongoing Iran conflict, oil prices have surged significantly, with Brent crude breaking $100 per barrel for the first time. U.S. stock indices' three major indexes hit new lows since 2026. The crypto market remained relatively stable, with Bitcoin holding around $70,000. Goldman Sachs warned that if oil supply remains weak, prices could spike to 2008 highs.
ChainNewsAbmedia50m ago
Chainlink (LINK) Price Prediction: What Comes Next After the Wave 5 Decline
Chainlink seems to have found a familiar groove. It has been moving sideways after the fall from the February highs of $12.50. Both bulls and bears are waiting for a clear trend in the cryptocurrency. The daily chop hides a more structured picture beneath the surface, one that technical
CaptainAltcoin1h ago
