Convergence

Immutable

Divergence

The post <a href="https://coinpedia.org/price-analysis/immutable-price-books-losses-despite-bullish-sentiment-will-imx-price-bounce-back/">Immutable Price Books Losses Despite Bullish Sentiment! Will IMX Price Bounce Back?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto industry has recorded a neutral move as the Market cap has witnessed a rise of less than 0.01% within the past day, indicating a possibility of a cool-off in the market. On the other hand, Layer 2 tokens have displayed a significant price action, suggesting mixed emotions around the space. 
Immutable price has displayed a negative trading day as the price has recorded a loss of 6% in value within the past day. The IMX price had recorded a remarkable run as the price has gained over 18% compared to the past week, with a cumulative addition of over 126% within the past month. 
The <a href="https://coinpedia.org/price-prediction/immutable-x-imx-price-prediction/">IMX price</a> was seen trading in a consolidated range between $0.5840 and $0.6969 for a brief period, indicating a weak interest among the investors for this coin. November started on a positive note as the bulls successfully gained power and broke out of the range. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/h-WFdR27WFLu9UyRHudhddHB9gI04u36bDwVxtOqPeKiO737QxD1u7GdIS2uomfGdCyLLohVhVlYXtfO5o8UQf97b0zi8OgUmKrjFkyWh7aO70eDwxpFMgvRtLVbJuctBf7lGns484Oad0KsQjMXZlA" alt="Immutable Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: IMX/USDT
 </figcaption>
</figure> 
The immutable price recorded a jump of over 38% in value within a day, indicating a strong bullish influence in the market. The price was then rejected at $0.9618, following which the price experienced correction and retested its support level of $0.8098. 
The bulls managed to regain power and break out of the resistance level at $0.9618. Further, it was seen hovering around its resistance/support level of $1.1311 for over a week, after which the price recorded bullish sentiment and successfully broke out of the range at $1.2089. 
The coin then displayed a sideways trend before attempting to test its important resistance level of $1.50 where it got rejected and has been trading under a bearish influence since. 
The Moving Average Convergence Divergence (MACD) has displayed significant price volatility recently, indicating an ongoing buying and selling pressure in the market. Further, the averages show a bearish convergence, suggesting the price will experience a correction in value soon. 
<h2 class="wp-block-heading" id="h-will-imx-price-regain-value">Will IMX Price Regain Value?</h2> 
If the bulls hold the price above the resistance/support level of $1.4134, the price will regain momentum and make a run to test its upper resistance level of $1.50. 
Maintaining the price at that level will set the stage for IMX price to attempt to test its upper resistance level of $1.5952 in the coming days. 
Conversely, if the bears overpowered the bulls, the price would lose momentum and fall to test its support level of $1.2809. Moreover, if the bears continue to dominate the market, it will plunge further and test its lower support level of $1.1311 in the coming month.

Immutable Price Books Losses Despite Bullish Sentiment! Will IMX Price Bounce Back?

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