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- 1 The Immutable crypto seems to be recovering the losses in the last couple of sessions.
- 2 IMX crypto was at $3.089, recording a positive Intraday development of 1.49% (press time).
Immutable crypto price broke its three-day losing streak on Saturday and took a rebound from the 20-day EMA. The price is recovering to close the week in green after the price broke below the weekly low.
Moorever, the buyers are currently looking for a firm footing at the lower levels in order to create a new higher low. On the lower side, the 20-day and 50-day Exponential moving averages may act as a demand zone.
Below all lies the previous breakout zone near $2.5 level, which might turn out as a major demand zone. If the price fails to gain the buyers trust near the key moving average, the previous breakout zone might turn out to be a major hurdle for the sellers in the short term.
Currently, the buyers seem to be struggling to hold near the 20-day EMA and a round level of $3. Any sustained move above the 20-day EMA may validate completion of a pullback and a new swing might be observed on the charts.
Will the Immutable Crypto Slump More or Stabilize?
Currently, the short term trend is dominated by the sellers as price dropped sharply in the last couple of sessions. The price hovers near the 20-day EMA. If the buyers fail to regain control, the price may sink to the lower levels.
Earlier, the crypto took rebound from the 50-day EMA and surged higher conquering the previous swing at $2.5 level. The IMX price registered a new high near $3.5 level, rising nearly 40% above the previous one.
Thereafter, the crypto experienced a selloff in the recent sessions, but the price still lies above the previous high. The long-term trend is positive and it may attract more buying volumes if the price discounts.
Immutable Price Technical Analysis.
The technical indicators imply a mixed outlook above the short-term trend. The price hovers above the 20-day and 50-day EMAs, suggesting a bullish outlook in the short term.
At the time of writing, the RSI line was placed at 58.60 whereas the SMA line was at 71.96. The RSI line has made a bearish crossover with the SMA line, indicating a slightly bearish outlook in the short term.
Immutable Crypto Prediction February 2024
The price prediction of Immutable crypto for February month shows that the IMX crypto may rise again if it sustains above the 20-day EMA. On the other hand, if the price breaks below the 20-day EMA, more downside levels till the 50-day EMA may be observed.
Immutable Price Prediction 2024
The price forecast for the year 2024 highlights that the IMX token price could reach a high of $5.18, suggesting a potential gain of over 68.57%. Moreover, the bearish outlook of the analysts hopes the price could reach $4.09 by the year-end.
Immutable Price Prediction 2025
By 2025 Immutable price may have achieved a higher level of $7.75 if the most optimistic conditions prevail in the market. On the contrary, the less positive view of analysts hope for the price to hover somewhere near $5.68 level.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
