Follow Us

Immutable Crypto: Can IMX Crypto Advance Above The Supply Level?

Share on facebook
Share on twitter
Share on linkedin

Share

Immutable Crypto: Can IMX Crypto Advance Above The Supply Level?
Share on facebook
Share on twitter
Share on linkedin

Immutable crypto had been on a strong upward trend, rising from $0.5000 to $2.600 in a short time, but then it faced some resistance and dropped to $1.720, where it found some support at $1.72.

The IMX crypto is geared for a phenomenal surge, as it gears up to crack the resistance level and skyrocket to new peaks from the current support zone. IMX is likely to cross major EMAs.

The IMX crypto asset is also showing bullishness, as the MACD has a bullish crossover and is above the zero line. The MACD value is -0.0.0494, the signal line value is -0.0146, and the histogram value is 0.0348. The histogram is increasing, indicating a widening gap between the two lines. 

Immutable Crypto: Can IMX Crypto Advance Above The Supply Level?
Source: IMX/USD: COINBASE.1.D. by TradingView

The RSI has not reached the overbought state yet and bounced from the 14-SMA smooth line. The RSI curve has crossed the 14-SMA line, indicating bullish strength. This means that the Immutable asset is not meeting much resistance and could continue gaining in the next few sessions. The RSI value is 57 and the 14-SMA value is 52.

Moreover, the Immutable asset price structure is showing bullish signs and has the potential to grow further. It has performed well in the past week, month, and quarter, gaining 9.01%, 15.15%, and 155.64% respectively, showing a solid uptrend.

At the time of publishing, the IMX crypto is up by 0.77% in the last 24 hours, trading at $2.197. Therefore, if the demand for the IMX crypto stays high, the asset price could rise more from the current level. The next target for the price is to reach $2.600.

However, if the IMX crypto price falls below the $1.7200 level, it could fall further.

Source: IMX/USD: COINBASE.1.D. By TradingView

Summary

IMX price highlights the bullish sentiments and perspectives regarding the crypto asset in the daily time frame. The Immutable price action highlights a bullish view at the time of publishing, as it recently attempted to surge from a pivotal level. 

Technical parameters of the Immutable price suggest the continuation of the uptrend, over the daily time frame chart. RSI, and EMAs are giving bullish signals for IMX.

Technical Levels

Support Levels: $1.7200 

Resistance Levels: $2.600

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Download our App for getting faster updates at your fingertips.

en_badge_web_generic.b07819ff-300x116-1

We Recommend

Top Broker

Top Rated Cryptocurrency Exchange

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00