The post Investment Of $100 In Immutable (IMX) To Turn $1000 By Bitcoin Halving? appeared first on Coinpedia Fintech News
The Immutable token has gained significant attention from the crypto market over the past few days due to its increased price volatility. The IMX price has added over 3% within the past day but has added over 78% over the past 30 days, making it a potential pick for the upcoming bull run.
The Immutable price traded in a closed range between $1.8925 and $2.0916 for a while, following which the bulls gained momentum and the price broke out of the range. After recording a jump of 17.5%, the IMX price displayed a neutral trend for the next seven days.
TradingView: IMX/USDT
As the market volatility grew, the bulls regained momentum and jumped over 18%, following which the token traded sideways for the next few days. The IMX token continued to gain significant attention from the market, resulting in it adding 22% over the next three days.
After facing rejection at $3.2319, the Immutable token displayed a neutral trend for a while. Following multiple attempts, they successfully broke out of the resistance level and recorded a jump of over 15.50%.
The token then traded sideways for a while, after which the bulls lost momentum and broke down the support level. Since then, the price has been trading in a consolidated range between $3.0006 and $3.5374.
Will Immutable Price Increase?
The MACD displays a constant rise in the green histogram, indicating increased buying-over-selling pressure within the market. Moreover, the averages show a steady rise, suggesting the price will continue gaining value in the coming time.
If the bulls regain momentum, the IMX price will test its resistance level of $3.5374 soon. Further, if the bulls maintain the price at that level, it will prepare to test its upper resistance level of $4 during the upcoming weeks.
Conversely, if a trend reversal occurs, the bulls will lose momentum and fall to test its support level of $3.0006. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $2.6547 in the coming time.
