Immutable X Price Prediction and Analysis
The Immutable X price prediction suggests that IMX may touch the resistance level of $0.61 and potentially rally further towards $0.70. Here are the key points:
- Immutable X’s current price is $0.58, with a market cap of $655.1 million.
- The circulating supply of Immutable X is 1.1 billion, with a total supply of 2 billion.
- Immutable X is currently ranked #53 on Coinmarketcap.
- The resistance levels for IMX/USD are $0.75, $0.80, and $0.85.
- The support levels for IMX/USD are $0.40, $0.35, and $0.30.
IMX/USD Market Analysis
IMX/USD touched the daily high of $0.61 and is currently hovering around the resistance level of $0.58. Further bullish movement above the 9-day and 21-day moving averages could push the price towards the resistance level of $0.70. Traders should note that a consistent price increase may attract more buyers as bulls increase their positions.
Immutable X Price Prediction: IMX/USD May Begin to Move Higher
According to the daily chart analysis, if the Immutable X price crosses above the 9-day moving average, it is likely to break towards the upper boundary of the channel. A cross above the 21-day moving average confirms the presence of bulls in the market. However, if the bulls fail to push the price higher, the bears may take advantage and bring the price below the lower boundary of the channel.
The Relative Strength Index (14) is likely to face the 40-level. If the price heads towards the upper boundary of the channel, resistance levels can be found at $0.75, $0.80, and $0.85. On the other hand, a downward slide may bring the price to support levels at $0.40, $0.35, and $0.30.
IMX/BTC Analysis
Against Bitcoin, the Immutable X price is moving to cross above the 9-day and 21-day moving averages. If the coin trades near the upper boundary of the channel, crossing above it could hit the resistance level at 2700 SAT and above. However, if sellers bring the market back down, a fall towards the lower boundary of the channel and a support level of 1800 SAT and below could be expected. The Relative Strength Index (14) crossing above the 40-level suggests a bullish movement for the coin.
ImmutableX Alternatives
Immutable X is currently priced at $0.58 with a gain of 1.32%. If the bulls increase the pressure, IMX/USD may begin to follow a bullish movement within the channel. Additionally, the presale of the $WSM token is in its final stage, with early-bird investors able to purchase it at a price of $0.0337. The token has already raised over $25 million and is expected to be listed on major exchanges at a higher price.
Hot Take
Based on the analysis, there is potential for the Immutable X price to rally further in the short term. Traders should monitor the crossing of moving averages and the behavior of the Relative Strength Index for further confirmation of bullish or bearish trends. Additionally, the launch of the $WSM token could impact the market dynamics for Immutable X.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
