- Immutable (IMX) has claimed approximately 23.87 million IMX tokens worth $17.1 million.
- IMX experienced a 0.82% decrease in value in the recent trading session.
- IMX’s daily trading volume recorded a 24.83% dip in the last 24 hours.
Token Unlocks, a platform specializing in tokenomics tracking, disclosed via a tweet earlier today that the team at Immutable
In the most recent trading session, IMX experienced a 0.82% decrease in value, as per data from CoinMarketCap. As a result, the altcoin was exchanging at $0.7122 at the reporting time. This downward price trajectory positioned IMX nearer to its 24-hour low of $0.7114 than its daily peak of $0.7259.
IMX also witnessed a slump in its daily trading volume in conjunction with the price decline. As of the latest update, the trading volume of the cryptocurrency was recorded at $11,749,444, marking a 24.83% dip compared to the previous 24-hour period.
Over the past week, Immutable (IMX) has experienced a significant bearish trend. The altcoin has seen a substantial decrease in value, plummeting from a peak of $0.8029 to its present trading level. IMX’s price has breached the 9-day, 20-day, and 50-day Exponential Moving Average (EMA) lines. As of the latest update, it continues to trade beneath these three crucial technical indicators.
Crypto investors and traders should pay attention to the notable bearish technical indicators that have recently emerged on IMX’s daily chart. Primarily, the 9-day Exponential Moving Average (EMA) line has moved below the 20-day EMA line, suggesting that IMX has initiated a short-term bearish trend.
Additionally, the 20-day Exponential Moving Average (EMA) line made a bearish crossover below the 50-day EMA line, indicating that IMX has transitioned into a mid-term bearish phase. Should these indicators be confirmed, we could see the altcoin’s price depreciate to $0.6790 in the forthcoming week.
Conversely, a daily candlestick closing above the 50-day EMA line, approximately at $0.7371, would negate the bearish outlook. Under these circumstances, the digital asset’s value could escalate to the subsequent significant resistance level, pegged at $0.8485.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
