Immutable X Price Prediction: IMX Spikes to $0.77 Resistance Level
The price prediction for Immutable X (IMX) suggests that it will reach the resistance level of $0.77, surpassing the moving averages.
Immutable X Prediction Statistics Data:
- Current IMX price: $0.65
- Market cap: $765.8 million
- Circulating supply: 1.1 billion IMX
- Total supply: 2 billion IMX
- Coinmarketcap ranking: #46
IMX/USD Market Analysis
Key Levels:
Resistance levels: $0.85, $0.90, $0.95
Support levels: $0.45, $0.40, $0.35
The IMX/USD pair is exhibiting a strong bullish trend, with the price surging to a new daily high near the resistance level of $0.80. Currently trading at $0.65, the coin remains on a bullish trajectory above both the 9-day and 21-day moving averages. Even if the price dips below these moving averages, optimistic buyers are ready to take advantage of any downturns.
Immutable X Price Prediction: IMX Poised for Further Upside Potential
To sustain its upward movement, IMX needs to maintain the breached resistance level of $0.77. The Relative Strength Index (14), an important technical indicator, is currently crossing above the 70-level with a northward signal line, indicating positive sentiment among buyers. If IMX can maintain a bullish movement above the upper channel boundary, it could solidify its uptrend.
If the 9-day Moving Average (MA) red line crosses above the 21-day MA green line, it could further strengthen the Immutable X price, potentially reaching resistance levels of $0.85, $0.90, and $0.95. Conversely, a bearish drop could occur if market prices decline, pushing the coin to support levels of $0.45, $0.40, and $0.35.
IMX/BTC Price Analysis
When compared to Bitcoin, IMX is trading above the 9-day and 21-day moving averages and has reached a daily high of 2885 SAT. However, it’s important to note that the Relative Strength Index (14) is entering the overbought region, suggesting that the coin is aiming for further upward movements.
If the price continues to rise, a potential resistance level lies at 3100 SAT and beyond. However, sustained downward movement could nullify the bullish momentum and attract new sellers to the market. In such a scenario, the focus would shift to the support level at 1700 SAT and below.
Immutable X Alternatives
In the past 24 hours, Immutable X has seen an impressive price increase of 18.37%. In the IMX/USD pair, if the red line of the 9-day moving average surpasses the green line of the 21-day moving average, the bullish momentum could continue. Additionally, with over $25 million raised so far in its final stage of development, there is an opportunity to purchase IMX at the current presale price before it becomes available on exchanges. The token is set to launch officially in the coming days.
Hot Take: Immutable X Gaining Momentum with Potential for Further Upside
Immutable X (IMX) is showing a strong bullish trend and has the potential to reach the resistance level of $0.77. With positive sentiment among buyers, IMX may solidify its uptrend and reach higher resistance levels at $0.85, $0.90, and $0.95. However, a bearish drop could push the coin to support levels of $0.45, $0.40, and $0.35. In comparison to Bitcoin, IMX is experiencing an uptick in price but should be cautious of overbought conditions. Overall, Immutable X is gaining momentum and attracting attention as it approaches its official launch.
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.