Home
News
- 1 The ImmutableX coin’s price increased by 2.19% over the last week and is trading below the dominant resistance trendline.
- 2 The price of the IMX coin is trading at $0.5653 and the 52-week range is $0.3750 – $1.5910.
ImmutableX, the leading platform for creating, trading, and earning with NFTs on Ethereum has launched Immutable Passport, a gaming identity and digital wallet solution for web3 gaming. Passport aims to provide familiar and frictionless experiences for players in the Immutable ecosystem.
Passport has several features that make web3 gaming easier and more enjoyable. Players can log in with one click using their social accounts, without creating passwords or wallets. They can also choose from various tokens to pay gas fees, which are streamlined by ImmutableX. Passport integrates natively with Unity and Unreal SDKs, making it compatible with popular game engines.
Passport also increases security and trust for players who use NFTs in web3 gaming. By using Passport, players can access games that are verified by the Immutable ecosystem, which offers instant trade confirmation, zero gas fees, and scalability. Players can also spend more with improved UX and bring funded wallets, which boost conversion rates.
ImmutableX crypto surged by 0.85% in market value and fell by 23.63% in trading volume in the last 24 hours, per Coinmarketcap which is a crypto data and info website. Its market value is $660,150,213 and its trading volume is $22,608,293. There are 1,167,293,573 IMX in circulation.
ImmutableX (IMX) open interest is $26.69 Million, as per Coinglass, which is a crypto analysis website, it fell by 13.65% in the previous session. The long versus short ratio for 24 hours is 0.9316. The total number of short positions added in the last 24 hours is $24.52K against longs of $103.19K.
IMX Coin Price Technical Analysis in the 1-Day Timeframe
The IMX price faced resistance from the exponential moving averages (EMAs) and was trading at $0.5661 price with an intraday loss of 0.12%.
At the time of publishing, ImmutableX (COINBASE: IMX) is trading below the 20, and 50-day EMAs (exponential moving averages) which are rejecting the IMX price trend.
The MACD line at 0.0053 and the signal line at 0.0011 are both under the zero line and they are crossing each other. The histogram gap is narrow in the MACD oscillator, which shows that the price is consolidating.
The RSI value is 48.47 points and the 14-day SMA is 51.39 points, which is below the middle line. This means that the price is below the median line.
The IMX price had been falling for a long time following a downward trendline on the charts and facing constant resistance. At the time of writing, IMX price is at 0.5661 trading near vital support and moving sideways in a range. Furthermore, if IMX breaks above the nearest resistance, it might rise for reclaiming levels. On the upside, IMX price could meet the nearest resistance levels at $0.6000 and $0.7000.
On the other hand, IMX price could resume its downtrend and reach the nearest support levels at $0.3000 and $0.2000 if it fails to hold the current level.
Conclusion
The IMX price shows the negative outlook and expectations of the investors and traders about the IMX in the daily chart. ImmutableX price movement shows a bearish trend at the time of writing as IMX is under trendline resistance and moving sideways. Furthermore, the technical indicators of the ImmutableX price suggest that the consolidation may turn into a downtrend in the daily chart. Important reliable indicators MACD, RSI, and EMA, give negative signals about the IMX price.
Technical Levels:
- Support levels: $0.3000 and $0.2000.
- Resistance levels: $0.6000 and $0.7000.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
