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- 1 The ImmutableX price asset is exhibiting bearishness and falling capacity as it slides below major trend 20-day and 50-day EMA bands.
- 2 The ImmutableX price asset is exhibiting bearish performance as MACD shows a bearish cross and the RSI is not close to the 30 level yet at 39.45.
The ImmutableX price exhibits that the price momentum was in the bull’s ring earlier, as it rallied from demand to a resistance-based supply level from $0.6000 to $3.7500.
But, at the top supply level, the price failed to sustain and started declining, and the IMX crypto exhibited a sign of more deterioration in the coming sessions, as the price tumbled from a crucial level of around $3.7500 on the chart.
According to the IMX price prediction, it is approaching a massive price decline, as it touches the major hurdle level and starts to plunge, and starts shattering the support level.
ImmutableX Token Price And Indicator Evaluation
The ImmutableX price asset is exhibiting bearishness and falling capacity as it slides below major trend 20-day and 50-day EMA bands, reliant on the sellers’ surge, its price could slump further.
Similarly, the ImmutableX price asset is exhibiting bearish performance as MACD shows a bearish cross at -0.0553with histogram at -0.0170, and the RSI is not close to the 30 level yet at 39.45, meaning that the ImmutableX asset is not facing significant buying pressure and can continue to fall in the coming session.
On the overall analysis, the chart shows that ImmutableX has recorded good performances in the previous quarter by 16.87%. However, the ImmutableX price prediction is revealing bearish signs and displays that it has the capacity to sink lower.
Even, it has achieved bad performance in the previous week, and month by -13.54%, and -17.56% respectively, signifying a steady downward movement. At the time of publishing, the ImmutableX price crypto is experiencing a decline of 8.17% in the last 24 hours, currently trading at $2.6602.
Therefore, ImmutableX price prediction highlights that if it fails to stay above the $2.500 level, it could decline further and reach lower levels.
However, if the demand for the token remains high, the ImmutableX asset price could bounce back from the current level. The next target for the price is to reach $3.7500 and $4.00.
ImmutableX Volume And Development Activity Analysis
The volume analysis shows that the IMX cryptocurrency has received $75.69 Million in volume. The volume chart describes a decline in volume, suggesting the continuation of the ongoing downtrend trend.
Furthermore, the development activity reflects the level of activity happening in ImmutableX in the form of undergoing projects and developments in crypto. The developer’s activity shows that it is declining and could invite more selling in the IMX crypto price.
Summary
The ImmutableX price asset is exhibiting bearishness and falling capacity as it slides below major trend 20-day and 50-day EMA bands, reliant on the sellers’ surge, its price could slump more.
Similarly, the ImmutableX price asset is exhibiting bearish performance as MACD shows a bearish cross and the RSI is not close to the 30 level yet at 39.45.
On the overall analysis, it is revealing bearish signs and displays that it has the capacity to sink lower. Therefore, ImmutableX price prediction highlights that if it fails to stay above the $2.500 level, it could decline further and reach lower levels.
Technical Levels
Support Levels: $2.500
Resistance Levels: $3.7500
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.
