Immutable X (IMXUSD) Suffers a Lack of Bullish Follow-Through
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From late June onwards, the Immutable X market has been ensnared in a stagnant phase, with prices moving consistently between the $0.6796 and $0.7841 range. Despite this deadlock, today’s trading session witnessed a surge in trader activity, leading to a notable price spike. Regrettably, the bulls couldn’t maintain this momentum, resulting in a retracement back into the established range zone.
IMX Network Market Data
- IMX/USD Price Now: $0.7832
- IMX/USD Market Cap: $838,178,058
- IMX/USD Circulating Supply: 1,081,888,200 IMX
- IMX/USD Total Supply: 2,000,000,000 IMX
- IMX/USD CoinMarketCap Ranking: #50
Key Levels
- Resistance: $0.80, $0.85, and $0.90.
- Support: $0.67, $0.60, and $0.55.
Price Prediction for Immutable X: The Indicators’ Point of View
In today’s Immutable X market, investor interest surged dramatically, leading to a substantial price pump that reached the $0.9318 level. Recognizing the opportunity, long-position traders who had entered the market earlier decided to take their profits, causing a temporary price correction and pushing the market back in an eastward direction. However, the Relative Strength Index indicates that the market is still within the buy zone, suggesting that the bulls remain active and involved in the market.
LINK/USD 4-Hour Chart Outlook
In the 4-hour chart outlook, the price retracement is the result of the correction from the overbought region. It was this strong because the preceding bullish move was also strong. If the bulls can secure their foothold above the 20-day moving average, the market will continue steadily in an upward direction.
