The native token of Immutable X is IMX
At the time of writing, IMX is being traded at the rate of $5.09 with an increase of almost 4% within the last 24 hours.
The low within this tenure was around $4.87 and the high was approximately $5.73. The coin as being in the watchlist of many traders makes it rank all the way up to number 96th according to the latest data released by coin market cap.
IMX during the month of November approached a near All-time High around the price of $9.53. The trading volume today on the other hand has increased by almost 137.75%.
The top exchanges for trading IMX are currently Kucoin, OKEx, FTX
Technical Analysis – Immutable X
IMX before the consolidation had shown us higher high movements. The price printed a big green candle that took it to a new height. After that, IMX did a descending correction. This correction eventually led to the creation of a daily order block when the price shot up and broke the previous higher high. For some time, the price continued in this direction and we saw price achieve a new high a few weeks ago.
Soon after, the price failed to create another high and eventually fell down to shift the structure. This also created another order block that has remained unmitigated for a long time. Now the price is doing a descending correction. Now the price is ranging between the two order blocks.
We can expect the price of IMX to mitigate the lower order block and then we can look for a long position. The price can drop down and get a bounce from the support, this would make sure that there is no reason for the price to go down again. Then we can look for a possible long position, this would take the price of IMX to mitigate the upper order block from where a reaction can be expected. Depending on the lower time frame confirmations, we can look for a cleaner entry.
Price Prediction – Immutable X (IMX)
IMX has been one of the slow gainers in the market. The price is still way low as compared to the all-time high. According to wallet investor, the price of IMX is to reach a value of $0.919 in a year. This means that wallet investor considers IMX to be a bad investment.
