IMX Price Action Analysis
Immutable #IMX/USDT has shown promising movements on the 4-hour and 1-hour charts, indicating potential bullish momentum.
4-Hour Chart Analysis:
The 4-hour chart highlights IMX currently trading above the 200 SMA, a positive indicator suggesting long-term bullish potential. The price has rebounded from the recent lows and is currently testing the $1.35 resistance level.
Significant support and resistance levels are marked at:
Resistance: $1.51, $1.60
Support: $1.20, $1.13
if the price sustains above the $1.35 level. An increase in trading volume further corroborates the bullish sentiment.
1-Hour Chart Analysis:
On the 1-hour chart. The recent price action has broken through resistance levels and is currently testing the $1.35 zone.
Key levels to watch include:
Resistance: $1.51, $1.60Support: $1.20, $1.13
Both charts suggest a bullish continuation, with the next target levels around $1.51 and $1.60 if the price can maintain its current momentum.
IMX's recent price action and technical indicators point towards a potential bullish trend continuation. Traders should watch for a sustained move above $1.35 to confirm the bullish outlook, targeting the $1.51 and $1.60 resistance levels.
Disclaimer:
This analysis is for informational purposes only and should not be considered as financial advice. Trading cryptocurrencies involves significant risk, and you should conduct your own research before making any investment decisions. Always consult with a financial advisor before making any trading decisions.
