IMX is forming a head and shoulders pattern in the daily time frame, and an ascending channel has formed in the 4-hour time frame.
The price reached the resistance level of $2.53-$2.62 , but after several attempts, it has not succeeded in breaking the level yet.
Considering that the price is in an ascending channel and is now at the ceiling, there is a high possibility of the price falling to $1.97.
If IMX manages to break through the resistance level and stabilize above it, there is a high probability that it will reach new price levels. This could indicate the beginning of a new upward trend, attracting the attention of many investors 🚀. It is also important to consider trading volume and overall market conditions to ensure the sustainability of this breakout.
