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Crypto markets continued to rise after the potential beginning of the altcoin season as mentioned before Amrbypto Analysis where Alt exceeded bitcoins.
Among the artists are AI coins that led Story [IP], Grim [INJ]Among other things.
For IP, Altcoin received 25% per day, while the volume was 181.44 million USD, which is 170%. ATH was still $ 8.96 or a drop in about 52%, with a low day to $ 3.59.
The IP price increase was a sign that the continuity of uptrends was still a possibility.
The price of the token actually exceeded the descending channel and moved above the resistance that limited the upper progress. The peak of the channel was over $ 7, while its low was at $ 2.5.
At the time of printing, IP traded for $ 4.386 and it seems to be heading towards the lower boundary of the patterns to $ 3.80, where there may be a decisive step- either reviving or violation-.
The money flow index (MFI) naturally indicated at 77.46 a strong purchase pressure, almost excessive level.
The inability to break over $ 5 after the repeated test can lead to a decline in the disadvantage of $ 3.60, a former support zone.
In addition, purchasing momentum was still in force because the volume for balance (OBV) was still appreciated.
Yet, if IP manages to get back $ 5 and flip it into support, bull work could remain alive.
On the thermal map of Coinglass disposal, dense clumps were stacked between $ 4.5 and $ 5.08, including a highly concentration zone for $ 516,000.
This level perfectly cope with IP resistance, which simply failed to conquer, which means that it is not just technical traders who follow this line – here is also loaded with lever effect.
In fact, if the price regenerates this region, the next round of short disposal could be upstairs. However, non -compliance with $ 4.3 could as easily detect bull dynamics.
Further look at the chain activity Scanning storiesThis indicated that various important metrics are currently growing.
The cumulative completed IP transactions were 34.907 million transactions, while 253 807 was the last 24 hours.
For total accounts, the number exceeded 772 858, while active accounts were below 10,000.
The total number deals with 3.83 million, as new transactions remained flat from 29 July and the total volume of IP transfers was 1.789 million at the time of printing.
In addition, active accounts also indicated a growing involvement, with a significant increase in early July.
The contractual activity supported this increase in participation. Over the past two weeks, 2,742 new contracts have been confirmed, which increased the total number to 321,935.
Such spikes in deployment on a chain often preceded the platform’s stickyness and in this case they support the thesis that it is not just a one -day pump.