Immutable X (IMX) Price Rebounds to Retest the $1.2 Price Level

At the climax of the aggressive Immutable X bull market of last month, the price came above the $1.2 level, even testing the $1.3 level. But they could not sustain the market above the $1.2 price level because the bear market was triggered and the price was rejected. However, the force propelling the uptrend is still active. The bull market was salvaged at $0.96, which is slightly below the $1.000 price level. From this price level, traders are buying again, and the market sets sail toward the key resistance level.

  IMX/USD Price Statistic

• IMX/USD price now: $1.114
• IMX/USD market cap: $943,787,437
• IMX/USD circulating supply: 849,352,746 IMX
• IMX/USD total supply: 2,000,000,000
• IMX /USD coin market cap rank: #52

Key Levels

• Resistance: $1.20, $1.30, $1.40
• Support: $1.00, $0.90, $0.80

 Price Prediction Immutable X: the Indicators’ Point of View 

 After the bullish price was rejected at the $1.2 price level, the market went flat around the $1.000 price level. Equal pressure was mounted on the price from both the demand line and the supply line, but the market was stuck in a deadlock situation. With its converging bands, the Bollinger Bands indicator illustrates the growing competition for market supremacy. The bands became more convergent as the market rose above the 20-day moving average. This increases the probability of a bullish price breakout.

IMX/USD 4-Hour Chart Outlook

At the supply line of $1.134, the market faces strong resistance. But the outlook of the candlestick representing the current session suggests that bulls are gaining momentum. The market will have more strong movement to the upside before the day’s trading session runs out. The more reason to expect a soon upside movement of the price is the appearance of higher lows since March 3. 

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