Test

Resistance

<p>The post <a href="https://coinpedia.org/price-analysis/will-immutablex-imx-price-hit-3-amid-increased-bullish-price-action/" rel="noopener noreferrer nofollow">Will ImmutableX (IMX) Price Hit $3 Amid Increased Bullish Price Action?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The cryptocurrency industry has displayed a positive price action in its valuation for the second straight day by recording an uptrend of 3.37% within the past 24 hours, indicating increased buying pressure in the crypto market.</p>
<p>On the other hand, after trading under a bearish sentiment for about a month, the <a href="https://coinpedia.org/price-prediction/immutable-x-imx-price-prediction/" rel="noopener noreferrer nofollow">ImmutableX price</a> has displayed a strong bullish reversal in its price chart since the month started, highlighting a high possibility of positive price action during May.</p>
<h2 class="wp-block-heading" id="h-immutablex-price-to-test-its-important-resistance-level-soon">ImmutableX Price To Test Its Important Resistance Level Soon?</h2>
<p>The IMX token started the year on a positive note by recording a jump of approximately 72%, from $2.130 to $3.655 by March. However, facing rejection at its upper resistance level, the bulls lost momentum and since then, the price has been trading under a bearish influence and lost 40% in value.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/9OXSGvLuaDHdftYF0BWClS7HYrXvIz8XK_a8e8H3Onfjw14HFwgi986hBNl08F1zUU1xmy3aS8a9Pnpixq0TLOV60iIyvS49cwGnRMh-MZCIDLO-gRlhqygTy2BDxoNAfAHrXeaAoAWMb3MlJWSoxNk" alt="IMX Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: IMX/USDT
 </figcaption>
</figure>
<p>Positively, the <a href="https://markets.coinpedia.org/immutable-x/" rel="noopener noreferrer nofollow">IMX token</a> has added 11.19% within the past day and 7.85% over the past seven days, indicating an increase in the bullish influence in the crypto space. However, the Cross EMA 50/200-day shows a bearish trend, highlighting uncertainty in the future price action.</p>
<p>The Relative Strength Index (RSI) shows a significant rise in the chart, indicating increased buying-over-selling pressure in the crypto industry. Moreover, the averages display a bullish pattern, suggesting a positive outlook for this altcoin in the coming time.</p>
<h2 class="wp-block-heading" id="h-will-imx-price-increase">Will IMX Price Increase?</h2>
<p>If the IMX price continues to trade under a bullish influence, the altcoin will continue rising and test its resistance level of $2.55 over the upcoming weekend. Maintaining the price at that level will set the stage for the ImmutableX token to attempt to test its upper resistance level of $3.085 this month.</p>
<p>Negatively, if the bears overpowered the bulls, the IMX token would fall to test its support level of $1.9295. Moreover, if the bears continue to dominate the market, it will plunge and fall to test its lower support level of $1.53.</p>

Will ImmutableX (IMX) Price Hit $3 Amid Increased Bullish Price Action?

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