$IMX /USDT Analysis: Vote 🗳️ for more signals

Current price: $1.474

Resistance levels:

- Immediate resistance is around $1.482, which is close to the current price. If $IMX breaks this level with strong volume, it could signal a continuation of the bullish trend.

Support levels:

- Immediate support can be found near $1.450. If the price retraces, holding above this level will be crucial for maintaining bullish momentum.

Trend overview:

- $IMX has shown strong upward momentum over the past few hours, with the price steadily climbing from around $1.30 to $1.474.

- The 4-hour chart shows a series of higher highs and higher lows, indicating a strong uptrend.

- Volume is increasing, which suggests growing interest and confidence in the upward movement.

Trading strategy:

- Long trade: Consider entering a long position if IMX breaks above the immediate resistance at $1.482 with a target at $1.50 and higher. Stop loss can be set below the $1.450 support level.

- Short trade: If IMX fails to hold above $1.450 and shows signs of reversal, a short trade could be considered, targeting the next support levels around $1.40.

Outlook:

- The overall trend is bullish, but traders should watch for any signs of exhaustion or rejection at key resistance levels. If the current momentum continues, IMX could see further upside, especially if it breaks through the $1.482 resistance.

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