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FXstreet
FXstreet
ImmutableX Price Prediction: Another buy opportunity for IMX before next leg up
10 days ago
Onchain Research - TheDatafi
Onchain Research - TheDatafi
followers

Top 5 Projects will Unlock huge tokens this week! | Feb 19 - Feb 25 1. $DYDX - 6.34M tokens ~ $20.0M ~ 2.15% M.Cap - Feb 20 2. $ML - 17.48M tokens ~ $12.89M ~ 27.23% M.Cap - Feb 21 3. $ID - 18.49M tokens ~ $11.38M ~ 3.96% of M.Cap - Feb 22 4. $AVAX - 9.54M tokens ~ $403.61M ~ 2.6% M.Cap - Feb 22 5. $IMX - 36.83M tokens ~ $123.11M ~2.8% of M.Cap - Feb 23 Guys better check the on-chain cash flow of these projects now, specifically with Smart Money's newest actions to see which tokens are accumulated. #AvalancheAVAX #ImmutableX #dydx

7 days ago
koinmilyoner
koinmilyoner
followers

The price of ImmutableX is now forming a falling wedge, which is a bullish reversal pattern that indicates an 18% increase in price. Two times, IMX has been unable to break out of the support zone, but it has managed to stay above it, which suggests that there is a possibility of a comeback. On the other hand, the bullish indications are not very strong at the present, and the fact that money are streaming into Bitcoin might render the bullish pattern meaningless. Since the last week of 2023, the price of ImmutableX has been following a short-term downward trend, and this downward trend is now transitioning into a probable positive turnaround. On the other hand, given that the cryptocurrency market is so close to approving a spot Bitcoin ETF, it is possible that the wider market circumstances may prevent this favorable conclusion from occurring. The price of ImmutableX is getting near to a breakout, although it is not yet rising. As this article is being written, the price of ImmutableX is trading at $1.93, and it is getting closer and closer to breaking out of the falling wedge formation that can be seen on the 4-hour chart. The range that is contracted between two trendlines is what distinguishes this pattern from others. The formation of this pattern, which is known as a bullish reversal pattern, often takes place during a downward trend. The falling wedge pattern may be recognized by the presence of two trendlines: one trendline that has a downward direction and links the lower highs, and another trendline that has an upward direction and connects the lower lows. Indicating that the selling are losing strength and the buyers may be gaining control, the falling wedge is seen as a bullish signal. This is because it suggests that the sellers are losing strength. A reversal or a substantial upward rise is likely to occur in the near future, since this indicates that the downward trend is losing strength. Within the context of the falling wedge pattern, a breach above the breakout point often results in the asset registering a rally that is comparable to the height of the beginning point of the pattern. In the instance of IMX, this target price has been established at $2.26, which represents a gain of over 16% above the point where the breakthrough occurred. Given that the support zone has been formed around $1.85, the price of ImmutableX has another opportunity to break out of the zone, even if it is unsuccessful this time around. Given that the Relative Strength Index (RSI) is now positioned below the neutral line of 50.0, price indicators are displaying a range of signals, with the RSI indicating a negative conclusion given its current position. On the other side, the Moving Average Convergence Divergence (MACD) indicator emphasizes bullishness on the charts. This is seen by the green bars on the histogram that are increasing. However, taking into consideration the fact that the approval of the spot Bitcoin ETF is just around the corner, despite the fact that the SEC's X account was breached earlier today, the possible 16% gain may be quickly shredded. This is because, after the approval, the majority of the cash that investors have invested would flow into Bitcoin. Because of this, the bullish thesis can be rendered invalid, and the falling wedge pattern would not be successful. As a consequence, the price of ImmutableX might lose the support around $1.85 and fall to $1.70 or anything lower. #IMX #crypto2024 #BinanceTournament $IMX

about 2 months ago
NFT
Kolectiv
Floor Price
0.02 ETH
Total Volume
1.11k ETH
Minted on 10 Jun 2021

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