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The post <a href="https://coinpedia.org/price-analysis/imx-price-retest-rally-brings-a-60-upside-potential/">IMX Price Retest Rally Brings A 60% Upside Potential</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
As the altcoins are taking crazy jumps overnight, the IMX token displays a similar price action and completes a retest. The post-retest reversal undermines the sideline anticipations of a bearish continuation.&nbsp; 
As the selling pressure over the altcoin subsides, will the Immutable token create a bullish peak? Check out now in our detailed IMX price analysis as we try to find out the future trend continuation.&nbsp; 
<h2 class="wp-block-heading" id="immutable-price-performance">Immutable Price Performance</h2> 
Despite a positive return of 28% in the last 30 days, the IMX price trend remains stuck on a sideways loop. Further, the 16.5% jump on Wednesday, struggling to sustain the bullish momentum over the next two days, reflects a huge overhead supply.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/05/17151905/image-402.png" alt="" class="wp-image-303941" srcset="https://image.coinpedia.org/wp-content/uploads/2024/05/17151905/image-402.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/05/17151905/image-402-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/05/17151905/image-402-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/05/17151905/image-402-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/05/17151905/image-402-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/05/17151905/image-402-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
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<a href="https://www.tradingview.com/x/MbtWaA6t/">Tradingview</a> 
In the 1D chart, the IMX price moving sideways exceeds the pullback’s resistance trendline. However, the overhead supply drives a retest. The recent jump of 21.65% within 72 hours marks the post-retest jump in the Immutable token. 
However, the altcoin is trading at $2.49 and struggling to surpass the psychological level of $2.50. Despite the token surpassing the 23.60% Fibonacci level, the uptrend chances are slim and warn of a bearish reversal to $2.&nbsp; 
Technical indicators: 
DMI: The turnaround in the IMX token leads to a bullish crossover in the VI lines, teasing a trend reversal. Further, the ADX line flattens for a potential uptick, hinting at a surge in momentum.&nbsp; 
RSI: The daily RSI line shows a constant rise, surpassing the halfway line and approaching the overbought zone.&nbsp; 
<h2 class="wp-block-heading" id="will-the-imx-price-top-4">Will The IMX Price Top $4?</h2> 
As the overhead supply is massive, the IMX price could retest the recently surpassed 23.60% trend-based Fibonacci level. However, if the bull run sustains in the Immutable token, then it might surpass the $3.779 peak to reach $4 in the coming weeks.&nbsp; 
On the flip side, a slide under $2.228 could hit $2.&nbsp;

IMX Price Retest Rally Brings A 60% Upside Potential

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