1. Current situation:
The price $2.1277 continues to trade in the consolidation zone, remaining above key support levels. RSI (54.18) and SMA (56.46) signal a neutral zone with the potential for both continued growth and short-term correction.
Volumes remain stable, but there is a noticeable decline in buyer activity, which may indicate the need to test key supports before further movement.
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2. Key support and resistance levels (Fibonacci):
Resistances (up):
1. $2.2526 (0) — nearest resistance, breaking which will open the way for growth.
2. $2.3416 (-0.27) — intermediate resistance.
3. $2.4570 (-0.62) — strengthened resistance.
4. $2.5822 (-1.0) — key target for bullish momentum.
Supports (down):
1. $2.0878 (0.5 Fibonacci): Nearest key support.
2. $2.0482 (0.62 Fibonacci): Strengthened support level.
3. $1.9922 (0.79 Fibonacci): Global support to maintain the trend.
4. $1.9230 (1.0 Fibonacci): Deep pullback for the bearish scenario.
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3. Long scenario: Entry points, targets, and stop-losses
Option 1 (aggressive):
• Entry: At the current price of $2.1277, if the price holds above the level $2.0878 (0.5 Fibonacci).
• Targets:
1. $2.2526 (0).
2. $2.3416 (-0.27).
3. $2.4570 (-0.62).
• Stop-loss: $2.0800, below support $2.0878.
Option 2 (conservative):
• Entry: Upon a pullback to the zone $2.0878–$2.0482 (0.5–0.62 Fibonacci).
• Targets:
1. $2.2526 (0).
2. $2.3416 (-0.27).
3. $2.4570 (-0.62).
• Stop-loss: $2.0200, below the level $2.0482.
Probability of the long scenario working out:
• 70% probability when holding the price above $2.0878 and consolidating above $2.2526 (0).
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4. Short scenario: Entry points, targets, and stop-losses
Option 1 (aggressive):
• Entry: Upon breaking support $2.0878 (0.5 Fibonacci) downwards.
• Targets:
1. $2.0482 (0.62 Fibonacci).
2. $1.9922 (0.79 Fibonacci).
3. $1.9230 (1.0 Fibonacci).
• Stop-loss: $2.1200, above the level $2.0878.
Option 2 (conservative):
• Entry: Upon retesting the level $2.0482 (0.62 Fibonacci) after breakout.
• Targets:
1. $1.9922 (0.79 Fibonacci).
2. $1.9230 (1.0 Fibonacci).
• Stop-loss: $2.0800, above the level $2.0482.
Probability of the short scenario working out:
• 30% probability if the price breaks $2.0878 and consolidates below.
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5. Conclusion and recommendations:LINK
Immutable X is in a consolidation zone, with the nearest support level at $2.0878 remaining key to maintaining the upward trend. A breakout of the level $2.2526 (0) will confirm the bullish scenario, while a breakdown below $2.0878 will open the way to targets $2.0482 and lower.
• Priority: Long scenario, as the price is trading above the Ichimoku cloud and key EMAs. #Immutable X #IMX $IMX
