Immutable X (IMX) Price Analysis: Post-Retest Rally Hints at Upside Potential

Immutable X (IMX) Price Analysis: Post-Retest Rally Hints at Upside Potential

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William Martin
·

1 min read

Key Points:

  • IMX price rebounds after a retest, showcasing bullish reversal.

  • Price target: Surpassing $2.50 resistance level.

  • Uptrend continuation could reach $4.

  • Technical indicators (DMI, RSI) suggest potential momentum increase.

Analysis:

The Immutable X (IMX) price has displayed a promising post-retest rally, signaling a potential trend reversal. After a period of sideways movement, IMX experienced a significant jump, breaking above a pullback resistance trendline. Although the price struggled to hold above $2.50 initially, a recent surge suggests renewed bullish momentum.

Technical factors supporting the uptrend:

  • Bullish DMI crossover: The Directional Movement Index (DMI) shows a bullish crossover, indicating a potential shift in momentum. A rising ADX line further suggests the possibility of increased momentum.

  • Rising RSI: The Relative Strength Index (RSI) has climbed steadily, approaching the overbought zone. This signifies strong buying pressure behind the recent price increase.

Will The IMX Price Top $4?

Read the full analysis here: https://coinpedia.org/price-analysis/imx-price-retest-rally-brings-a-60-upside-potential/

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