• IMX prices have increased significantly, crossing the $1.00 mark and showing a bullish continuation pattern.
• Technical indicators like the MACD and RSI are trending upward, indicating strong buying sentiment in the market.
• The price could see further increases if it can move above the supply zone and hold the $1.00 mark.
IMX Price Increase
The price of IMX tokens has risen above $1.00, creating a bullish persistence pattern and rising 21% every week. Bulls are attempting to hold the price of ImmutableX (IMX) token above exponential moving averages to strengthen its position at $1.000 breakthrough level. The pair IMX/USDT is currently trading at $1.092, up 3.61% intraday with 24-hour traffic-to-capitalization ratio of 0.1248.
Bullish Continuation Pattern
On a daily time scale, IMX prices have shown a bullish continuation pattern by climbing higher with higher high candles which indicates that buyers’ confidence is increasing and more upward movement may be expected in coming months if it breaks out of supply zone resistance at $1,289 swing-high barrier . Both EMAs are currently trending northward in anticipation of golden EMA crossing which might result in more follow-up movement in bulls‘ favour .
Strong Buying Sentiment
The volume of IMX token has increased as well as technical indicators like MACD and RSI are also trending upwards suggesting that some heavy buyers have established long positions and anticipate that price will remain at or above $1 mark . However if it faces resistance from supply zones then investors will get chance to buy discounted prices near support level of 0 .633 .
IMX Performance History
Immutable X was made available to general market in November 2021 achieving record value of 9 .52$ before falling back to 4 .90$. Year 2022 was difficult for cryptocurrency but it regained its lost momentum again by end of year 2022 with growth rate nearing 50%.
Conclusion
The bullish continuation pattern suggests that buyers’ confidence is returning resulting in increase in IMX prices however ,it still needs to break out from supply zone resistance to create an even stronger momentum for further price increases so investors should watch closely for any changes around these levels before investing their money