- of immutable X token Rejected again under the $ 2.0 resistance area.
- The immutable X token saw its market cap drop by 5.8% in the last 24 hours to $340 million.
- IMX tokens are down 2.3% and Bitcoin pairs are 0.00004032 Satoshis.
of immutable X token It fell again from the latest $ 2.0 sales zone before losing $ 1.5 short-term support. However, the IMX tokens form a top and bottom shape, which shows a downward trend.
Traders have seen a symmetric triangle formation (blue) breakout on a 4-hour scale, and IMX is approaching a key support point of $ 1.3. If the bulls fail to maintain this level of support, the IMX price will drop to his all-time low of $ 1.0 (viral round).
Traders witnessed a very turbulent session this week with the IMX price action trapping the bulls at the $1.9 resistance level. As a result, at the time of writing he’s IMX is trading at $1.45. Meanwhile, market capitalization has fallen 5.6% to his $34 million in the last 24 hours, according to CMC. The IMX token is down 2.3% while the Bitcoin pair is trading at 0.00004032 satoshis.
In the context of hourly price charts, we are looking at exponential moving averages such as 20, 50, 100 and 200, each above the current price. Similarly, on the daily chart, the bears are struggling to break below his selling pressure below 20 and 50 EMA.
Again, market volatility is declining, dropping 40% to $ 80 million in the last 24 hours.
RSI on daily chart
The daily RSI indicator failed to retest past the semi-line (50 points). Applying similar conditions to the IMX/USDT pair, the RSI peak looks weak.
Similarly, the ADX indicator moves sideways at 16 points.
Conclusion
However, the immutable X-coin became bearish again as the bulls couldn’t control cryptocurrencies above $ 1.5. IMX After retesting the upcoming support at $1.3, it may bounce back.
Support Level – $1.3 and $1.0
Resistance Levels – $ 2.0 and $ 2.7
Disclaimer
The views and opinions expressed by the author or any person mentioned in this article are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading in crypto assets involves the risk of financial loss.
