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ImmutableX Price Prediction: Will IMX Crypto Sustain Above $0.55?

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ImmutableX Price Prediction: Will IMX Crypto Sustain Above $0.55?
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ImmutableX price prediction indicates that IMX cryptocurrency is on an upward trajectory, aiming to surpass the $0.55 recovery level and sustain there. As IMX approaches the primary resistance level at $0.5592, it could face selling pressure. To keep the momentum going, buyers must continue accumulating IMX. Currently, Immutable cryptocurrency is ascending towards the upper limit, signaling its intent to break free from the consolidation phase.

In this scenario, the key to success for ImmutableX crypto lies in its ability to sustain its upward momentum and overcome the challenges posed by sellers near the primary resistance level. The market’s response to IMX’s push beyond $0.55 and towards the critical $0.5592 mark will be closely watched by investors. A successful breakout from the consolidation phase would be a significant milestone for ImmutableX, potentially opening the door for further price appreciation and market growth.

ImmutableX price was at $0.5398 and has gained 1.39% of its market capitalization during the day’s trading session. Trading volume has increased by 12.57% intraday which demonstrates that buyers need to increase their accumulation rate to maintain in the recovery phase. Volume to market cap ratio was at 2.06%.

Will ImmutableX Price Continue the Surge?  

ImmutableX Price Prediction: Will IMX Crypto Sustain Above $0.55?
Source: IMX/USD by TradingView

ImmutableX price prediction highlights that the IMX cryptocurrency is approaching the upper boundary of its horizontal trading range on the daily chart. It’s worth mentioning that the current trading volume is lower than usual and is expected to pick up during the upcoming trading session. Prior to entering this consolidation phase, IMX crypto underwent a period of volatility and fluctuations on the daily chart.

At present, ImmutableX cryptocurrency is making efforts to surpass its 20, 50, 100, and 200-day daily moving averages. In the span of a week, IMX cryptocurrency gained 10.36% and it experienced a decline of 12.31% in the past month. 

In the last three months, ImmutableX cryptocurrency recorded a decrease of approximately 18.02%, and over the past six months, it fell by 54.23%. However, in the year-to-date period, IMX crypto has demonstrated remarkable growth, surging by around 41.66%. These figures underscore the notable recovery of IMX crypto throughout 2023.

Based on technical indicators, ImmutableX cryptocurrency appears to be on an upward trajectory within the consolidation phase. Both the relative strength index (RSI) and moving average convergence divergence (MACD) indicate an increase in positive momentum.

RSI was at 46 and is heading towards neutrality for a breakout. The MACD line is above the signal line after a positive crossover. Investors in ImmutableX cryptocurrency need to wait till the IMX crypto sustains at the upper level.

Summary

ImmutableX price prediction indicates that IMX cryptocurrency is on an upward trajectory, aiming to surpass the $0.55 recovery level and sustain there. The market’s response to IMX’s push beyond $0.55 and towards the critical $0.5592 mark will be closely watched by investors. Based on technical indicators, ImmutableX cryptocurrency appears to be on an upward trajectory within the consolidation phase.

Technical Levels

  • Support Levels: $0.5157 and $0.4815
  • Resistance Levels: $0.5592 and $0.60
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 or stock comes with a risk of financial loss.  

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