After the FOMO of retail investors, will the whales continue to push the IP price up?

The strong buying power from retail investors has ignited a wave of spot and derive trading, causing IP prices to surge impressively. However, for this trend to be sustainably maintained, the market needs additional support from whales and large institutions; otherwise, the breakout momentum initiated by individual investors may quickly face the risk of correction.

The story

According to the latest data from Coin Photon, Story (IP) has just recorded an impressive breakout with a 16% increase in just 24 hours.

Nevertheless, the prospect of maintaining this upward momentum remains debatable, as the majority of the current driving force comes from the capital flow of retail investors.

Notably, the price increase wave is occurring against the backdrop of a surge in trading volume in both the spot and derive markets, with overwhelming participation from individual investors.

Technical outlook shows an upward trend

IP is entering a recovery phase after a sharp drop since breaking the upward trend line formed at the end of August. The recovery has just started, but the 16% rebound in a day has immediately shaken many on-chain indicators.

Notably, the Stochastic RSI indicator has fallen into the oversold region, further reinforcing the reliability of a potential trend reversal. However, the big question now is: can the on-chain signals sustain the upward momentum, when the main driving force is still coming from retail investor buying?

Daily IP/USDT chart | Source: TradingView## The on-chain index of IP remains optimistic

The Spot Retail Activity data from CryptoQuant shows that buying power from retail investors is increasing significantly at the current price level, reflecting the increasingly high enthusiastic sentiment of individual traders.

Source: CryptoQuantThis increase is further reinforced by the Spot Volume Bubble Map, as trading volume surges, indicating that the market is entering a distinctly "hot" phase.

Notably, this state of excitement has not yet reached its peak. This opens up the possibility that "whales" will join the fray, boosting the trend that retail investors have only just started.

If this scenario occurs, the IP price could completely continue to break out, moving towards challenging higher resistance areas – notably, the upward trend line that has been broken and now becomes an important resistance point.

Source: CryptoQuant## The bulls are gaining the upper hand

Adding to the positive picture, the Long/Short Ratio data from CoinGlass shows that the bulls are in the majority. The ratio reached 1.03, slightly leaning towards long positions, with 53% of the total orders belonging to the bulls.

This buying-oriented move reflects confidence in the short-term price increase outlook of IP, while it may also become a catalyst to attract more whales and institutional investors to participate in the market.

Source: CoinGlassHowever, the current uptrend still carries risks. Breakouts led by retail money flows are often subject to strong corrections if sentiment reverses. To solidify the uptrend, deeper participation from large investors is needed to establish a more robust support area.

Nevertheless, with the market structure leaning towards an upward trend, if retail capital continues to be sustained, IP could certainly challenge many important resistance levels in the near future.

SN_Nour