bullish

Immutable

Resistance

<ul class="wp-block-list">
 <li>IMX surged 9%, reaching a 17-day high amid market gains.</li>
 <li>IMX trading volume spiked 252%, signalling increased trader activity.</li>
</ul>
The global cryptocurrency market cap increased by 1.48% over the past 24 hours, with trading volumes up 27% after several days of bearish sentiment. <a href="https://thenewscrypto.com/bitcoin-btc-approaches-key-resistance-level-at-60k/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> has risen 2%, hitting a 21-day high of $61,316. As is typically seen, altcoins followed suit, with notable gains across the board.
Among the altcoins, Immutable X (IMX) captured significant attention, surging more than 9% in the last 24 hours and reaching a 17-day high of $1.487. IMX’s trading volume spiked 252%, signaling increased activity among traders. Over the past month, the coin is up 23%, currently ranked 37th on <a href="https://coinmarketcap.com/currencies/immutable-x/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>.
Moreover, community sentiment around IMX is largely positive, with 85% of participants feeling bullish. However, <a href="https://thenewscrypto.com/market-analyst-jamie-coutts-predicts-55-decline-before-crypto-bull-run/" target="_blank" rel="noopener noreferrer nofollow">price</a> action analysis suggests that buyers have faced challenges. Although bulls attempted a recovery after stabilizing at lower levels, the price was rejected at the 50-day Exponential Moving Average (EMA), wiping out recent gains.
Currently, IMX is trading below the 20, 50, and 200-day EMAs, presenting risks of a further crash. The $1.10 support level has held firm, but a break below this could push IMX towards a new annual low.&nbsp;
<h3 class="wp-block-heading" id="h-can-imx-surge-past-2">Can IMX Surge Past $2?</h3>
In the short term, sellers appear to control the market, with bulls struggling to regain momentum. IMX’s daily chart shows a bullish trend supported by the 9-day EMA at $1.353. It is while the Relative Strength Index (RSI) stands at 54, indicating a neutral stance.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfW2LXaCJ_PZCOJPizdsCiT8wMep9Jlm0S_-nyqKeATe4VufWFje70tPGDCsjGzICKlMT2BCiebIdRPgppfy98SyixUVY7Qprfdy-eS7RqUhROt4pj097qd6I-jDHAhK1eAhK8R90Woq7XLy6C7xgTdabm1?key=1B8Hln5EPtHDrgPKsmnQSg" alt="">
 <figcaption class="wp-element-caption">
 IMX Price Chart, Source: Sanbase
 </figcaption>
 </figure>
</div>
If the bullish momentum continues, resistance <a href="https://in.tradingview.com/chart/EJXIwxE9/?symbol=BINANCE%3AIMXUSDT" rel="noopener noreferrer nofollow">levels</a> at $1.49 and $1.62 may be tested. On the flip side, sustained bearish pressure could result in a decline towards $1.21, with a key support level at $1.10.&nbsp;
As IMX tests critical resistance levels, traders are watching closely for signs of sustained strength or potential reversals in the days ahead.
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Can IMX Break Through Resistance or Face a Pullback?

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