- The immutable X token breaks the symmetrical triangular pattern on the daily price chart.
- On the hourly chart, the IMX token is trading under the 20, 50, 100 and 200 EMA indicators.
- The IMX/USDT pair is down 3.8% at 0.00004012 satoshis.
of Immutable X The token is showing a downtrend, showing a downtrend. According to the VPVR indicator, the IMX token appeared to be above the three-month POC threshold of $1.50 at the time. Nonetheless, sellers beat the candle’s previous low in the intraday trading session.
Looking at the 4-hour chart, traders noticed a breakout of the symmetrical triangle pattern (blue) today. IMX Reached critical support area of $1.4. If the bulls fail to manage this support, the IMX price will reach his all-time low of $1.14 again.
This week, investors are witnessing a bearish weekend with losses of 10% or more. Therefore, IMX is trading at $1.50 at the time of writing. Meanwhile, according to CMC, his market cap is at $364 million, down 5% in the last 24 hours. Moreover, the IMX/USDT pair is down 3.8% at 0.00004012 satoshis.
If the bulls fail to hold the IMX token above $1.5 (3-month POC points), the $1.0 ideological round will be the next level of support. Volatility has weakened for him since the beginning of March, but traders’ volumes were up at $66 million for him compared to the previous night.
Not only for hourly charts, but also for daily charts, IMX The token is trading below the 20, 50, 100, and 200 EMA indicators, further weakening the IMX token.
What’s your next move?
The daily RSI is at 37 points and heading towards the oversold zone. Similarly, the ADX indicator drops sharply, indicating extreme momentum for the unchanged X token.
Conclusion
If the bulls hold the 3-month POC at $1.5, Immutable X Tokens can be recovered. Meanwhile, the bears may continue the trend towards her $1.0.
Support Level – $1.5 and $1.0
Resistance Levels – $2.0 and $2.7
Disclaimer
The views and opinions expressed by the author or persons named 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.
