At the time of writing this article, IMX has a value of $4.611 (21.38% decrease today) with a trading volume of $78,999,649 with a decrease of about 6.49% over the past 24 hours. It has been of the top losers today among the top 100 cryptocurrencies.
IMX is listed on coinmarketcap in 95th place. It has a market dominance of about 0.04%. IMX had created its all-time high around the price of $9.49 in November 2021. This month has been bearish for the price and we have seen a decrease of about 44.80% in December. In November we saw an increase of about 5100%.
The maximum supply of IMX is around 2B while the current circulating supply is around 188M coins.
Technical Analysis – Immutable X (IMX)
After the drop of Bitcoin (BTC) drop from the 50k range to the $42. The price of altcoins has been severely decreased and they have taken a hit.
IMX is one of the coins that has suffered damage to the price for the past few days. The price of IMX has broken structure and is now falling down to create a lower low.
The level to watch at this point is around $3. This is where an order block has been created. This was created after the price rallied upwards and eventually broke the previous structure. If the price drops to this level we can expect a long from there while taking into account lower time frame confirmations.
It should be noticed that the whole momentous candle at the beginning is very inefficient and as a result, we can expect a wick down to the middle to mitigate the level. This would in fact be a very healthy movement for the price.
If the price of Bitcoin (BTC) doesn’t mess up here, we can expect the price to rally upwards from the order block level. If it drops more to the early 40s we can expect the price of IMX to drop as well and mitigate the inefficient candle at the start.
Price Prediction – Immutable X
According to wallet investors, IMX is one of the most successful investments in the market. According to their predictions, IMX is expected to reach a value of $85.546 in a time span of one year. For a five-year plan, the price is expected to reach a value of $394.635.
