Immutable

The post <a href="https://coinpedia.org/price-analysis/imx-price-surges-as-volatility-increases-whats-next-for-immutable-this-week/">IMX Price Surges As Volatility Increases! What’s Next For Immutable This Week?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
After displaying a neutral trend for a while, the IMX price has recorded a jump of over 11%, indicating a rise in the bullish sentiments for the coin. Further, the rise in the bull power within the crypto space is assumed to be the prime reason for the pump. 
The <a href="https://coinpedia.org/price-prediction/immutable-x-imx-price-prediction/">Immutable price</a> traded in a closed range between $1.8925 and $2.0916 for a brief period, following which the market lost momentum and the price broke down its support level. After this, the price traded between $1.7223 and $1.8925 for the next four days. After multiple failed attempts, the bulls gained just enough momentum to break out of the resistance level. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/en1p8zHKC4p1iqzDesGxIMa8dl5TA4SLqiyFGGpEcch25a2lcOJdALvNannlGPIfU1du6PzEzoE8rIhlXzIevSI1YSt-dBYNxmqyyNrjc9mBf1ZYcxUPN8RF75g9vh6metDdf7FnixMfWps0dTEKYtw" alt="Immutable Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: IMX/USDT
 </figcaption>
</figure> 
The price then traded sideways for about a week, indicating weak buying and selling pressure for the coin in the market. Following this, the bulls recorded a breakout, but the rally was short-lived as the price faced rejection at $2.3414. After this, the price traded between $2.0916 and $2.3414 for the next seven days. 
During this time, the bulls made multiple attempts to break the resistance level but repeatedly failed as the bears displayed a strong liquidation point at that level. As the market volatility increased, the bulls successfully broke out of the resistance level and recorded a jump of over 24.5$ in valuation. 
After facing rejection at $2.8083, the price traded sideways in a narrow range between $2.6599 and $2.8083 for a while. Recently, Immutable (IMX) recorded a jump of over 11% within the past 24 hours, making it the top gainer of the day in the industry. 
<h2 class="wp-block-heading" id="h-will-immutable-price-increase">Will Immutable Price Increase?</h2> 
The technical indicator, MACD, displays a rising green histogram, indicating an increase in the buying pressure within the market. Moreover, the averages show a bullish jump, suggesting the price will continue gaining value in the coming time. 
If the market holds the price above the support level of $2.8083, the bulls will test its resistance level of $3.20 this week. Further, if the bulls maintain the price at that level, it will set the stage for Immutable to attempt to test its upper resistance level of $3.50 in the upcoming weeks. 
Conversely, if a trend reversal occurs, the IMX price will lose momentum and fall to test its support level of $2.8083 soon. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $2.6599 this month.

IMX Price Surges As Volatility Increases! What’s Next For Immutable This Week?

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