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- IMX price prediction suggests a rise in the long term and may reach $2.00.
- IMX token price is up by 20% on the monthly basis and forming a bullish continuation pattern.
- Immutable cryptocurrency price displayed golden crossover and trading above 200 day EMA.
IMX price prediction suggest a rise in the long term and prices are expected to continue the upward momentum. IMX price has displayed the golden crossover and the price is sustaining above the 50 and 200 day showcase uptrend on the positional basis.
IMX token has witnessed a massive spike in the buying volume and prices also followed the same direction. It indicates that genuine buyers have taken a long position and the prices are expected to hold the higher levels.
IMX price trading at $1.277 with an intraday rise of 2.00% and 24 hour volume to market cap ratio at 0.1843. At the beginning of February, IMX price woke up from the sleeping mode and breakout of its swing high resistance at $0.800 and also climbed above the 50 day EMA. It triggered the positive sentiment and turned the short term trend in the upward direction. Later, prices began to rise upward by forming higher highs and bulls managed to hold the price above the $1.00 level. IMX price consolidated for a few weeks in the narrow range between $0.800 to $1.200 and displayed a golden crossover.
Will the IMX price continue to rise?
IMX price has defended the $1.00 support despite the global sell off and recovered 100% approx from the recent swing low. Recently, IMX price shot up 28% on a single day and attempted to break out of the higher range but witnessed minor profit booking. However, if the overall market sentiment remains bullish then the probability of continuing the upward momentum will substantially increase.
IMX price : Technical analysis
IMX price is up by 20% on the monthly basis and also witnessed a rise in the volume indicates genuine buying and the rally looks sustainable. The technical analysis suggests IMX token price is into the bulls grip and it may hit $2.00 in the next phase of the rally. On the other hand, if the price drops below $0.800 then it might create short term trouble for the bullish traders.
IMX token technical indicators like MACD had generated a positive crossover indicating bullishness to continue for some more time. The RSI at 57 sloping sideways denotes strength of bulls and expecting price to consolidate for a few days before deciding the further direction.
Conclusion
IMX price prediction suggests a rise in the long term and the recent rally indicates that responsive buyers are active in the lower levels.Therefore, downside seems to be limited. The technical analysis suggests that if overall market sentiment remains bullish then IMX token price can strike $2.00 and above levels.
Technical levels
Resistance levels : $1.587 and $2.000
Support levels : $0.800 and $0.400
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
