Story Token Faces Resistance at 100-Day EMA
Story (IP) token fell 2% on Tuesday after three days of gains. It hit resistance near $7.23, close to the 100-day Exponential Moving Average (EMA). This level acted as support on September 26. If the price drops further, it may test the 200-day EMA at $6.20 and then the $5.42 support from August 15.
Technical signals are mixed. The Relative Strength Index (RSI) rose to 41 from oversold levels, showing less selling pressure. However, the Moving Average Convergence Divergence (MACD) and its signal line are still declining, indicating some overhead resistance. A MACD crossover above the signal line would suggest a bullish trend.
If IP breaks above $7.23, it could rise to the 50-day EMA at $8.31 and then to $11.84, near the September 9 high.
Ethena Rises on USDtb Stablecoin Onshoring
Ethena (ENA) held above $0.46 on Tuesday after a 13% jump the day before. This followed a 7% rise on Sunday. The price increase comes as USDtb stablecoin smart contracts move to Anchorage Digital. This move brings USDtb closer to full GENIUS Act compliance.
On the 4-hour chart, ENA faces resistance near the 50-period EMA at $0.49. If it breaks this level, the next key resistance is near the 100-period EMA at $0.53. This line connects highs from September 9 and October 2.
Technical indicators support a bullish outlook. The MACD and its signal line are rising, with green histogram bars increasing. The RSI is at 54, crossing above the midpoint, showing stronger buying pressure.
If ENA fails to break resistance, it could fall back to $0.40 and possibly to the recent low of $0.35.
Bittensor Gains After Barry Silbert Fund Announcement
Bittensor (TAO) dropped over 2% on Tuesday after three days of gains. The recent rally broke above a resistance trendline from January 6 and July 22 peaks. The rally was boosted by Barry Silbert’s flagship funds supporting Bittensor subnet tokens.
TAO faces strong resistance near $462. This level is the 50% Fibonacci retracement from the December 6 high of $748 to the April 6 low of $177. A close above $462 could push TAO to the 61.8% retracement at $530.
The RSI is at 67, nearing overbought levels, indicating strong buying interest. The MACD and its signal line are rising above zero, confirming bullish momentum.
If the price reverses, it may test the 38.2% Fibonacci retracement at $395.
