1 Immutable price surges $10% in a single day and attempts to break the $0.8000 hurdle. 2 IMX crypto price holds the 50-day EMA showcasing short term trend is reversing upward. 3 Immutable price prediction suggests a significant rise in the value is possible in the coming months....
- 1 Immutable price surges $10% in a single day and attempts to break the $0.8000 hurdle.
- 2 IMX crypto price holds the 50-day EMA showcasing short term trend is reversing upward.
- 3 Immutable price prediction suggests a significant rise in the value is possible in the coming months.
Immutable price surges 10% in a single day and the positive momentum is still intact. It formed a giant bullish candle attempting to break the $0.8000 hurdle. But the confirmation of the breakout is still awaited.
IMX price holds the 50-day EMA showcase the short-term trend is reversing upward. However, the 200-day EMA is placed slightly higher which is likely to act as an immediate hurdle for the bulls.
For the past few months, Immutable price is consolidating in the wide range between $0.6000 to $0.8000. Buyers tried multiple times to break the higher range but got rejected.
Recently, IMX crypto gave another attempt to break the $0.8000 hurdle which looks quite reliable.
Immutable crypto witnessed a massive spike in buying volume and prices also followed the same direction. It shows some genuine investors might have injected the money and expected outperformance.
Immutable Price is trading at $0.7958 with an intraday rise of 9.19. The 24-hour volume to market cap is 17.17%. The pair of IMX/BTC is trading at 0.00002723 with an intraday rise of 9.27%.
Will Immutable Price continue the positive momentum?
Immutable price has not performed well in the past few months and traded with a bearish bias. In the mid of June, panic selling triggered in IMX crypto, and bears tried to drag the prices below $0.6000.
Luckily, responsive buyers came forward and pushed the prices back to the previous range. If the Immutable price succeeds to climb above the 200-day EMA then the probability of a $0.8000 breakout will increase substantially.
If the breakout happens then positive momentum might continue and may reach $1.00. The technical analysis suggests the bulls are returning to track and upward momentum is possible.
IMX Price near to previous month’s high
IMX price showed a sharp bounce and traded near the previous month’s high. The prices rose for 3 consecutive weeks showing the buyers are aggressive. Till prices hold the 50-day EMA, it is expected to remain mildly bullish.
The MACD curve took support near the zero line and generated a positive crossover. It indicates bullish momentum might continue for some more time. The RSI curve at 61 sloping upward denotes the strength of bulls and more room for upside is open.
Conclusion
Immutable price surges 10% and attempts to break the higher range of consolidation. The technical analysis suggests, bulls are getting active in IMX crypto and prices might rally to $1.00.
Technical levels
- Resistance levels: $1.000 and $1.0892
- Support levels: $0.6000 and $0.5000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.