Immutable (IMX) Surges 12% as Trading Volume Jumps 300%
IMX Performance Overview
- IMX token surged nearly 12% in one day, currently trading at $0.639.
- Breakout from a downward channel that had been in place since February 2025.
- Long/short ratio increased to 1.004, favoring long positions.
- Daily active addresses show positive divergence at 63.22%, indicating rising user engagement.
- Trading volume rose by 300% in the last 24 hours; market cap increased by 11% to $1.16 billion.
- Broader crypto market recovery noted, with increased interest in projects like Immutable focused on gaming.
Price Outlook
- Inverse head and shoulders pattern detected, confirming bullish reversal after breaking neckline at $0.60.
- Potential price target of $0.75–$0.80 based on resistance levels.
- RSI at approximately 64, suggesting growing bullish momentum but not overbought yet.
- Bollinger Bands indicate buying pressure; caution advised for potential retracement near $0.52 if upper band fails to hold.
- MACD shows bullish crossover, maintaining control for bulls; daily close above $0.68 could drive prices towards $0.75–$0.80.
IMX price chart | Source: TradingView
IMX price chart | Source: Trading View