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- 1 IMX price showed a sharp rise, persists in gaining strength.
- 2 The IMX chart shows a bullish flag pattern.
IMX price witnessed a rally, accumulating gains beyond the crucial hurdle of $1.50, displaying a bullish bias on the chart. Moreover, the price action of IMX crypto exhibits the following buying action, as bulls persist in accumulating the token and are sailing above the neutral region. Furthermore, the IMX price consecutively supported the 20-day EMA and pulled back decisively in the past few sessions.
IMX price has surpassed the key moving averages, sustaining the gains, highlighting the bullish momentum in the past few sessions. Moreover, the IMX crypto has persisted in forming higher highs and riding the gains inside the bullish flag pattern amid the rally in the crypto market. Furthermore, the price has surpassed the 50% Fibonacci retracement zone and exceeded the key moving averages.
The live price of IMX crypto is $1.51, with an intraday gain of 7.66%, highlighting the bullishness on the chart. Moreover, the trading volume increased by 8.49% to $855.63 Million. However, the pair of IMX/BTC is at 0.000351 BTC, and the market cap is $3.07 Billion. Analysts have maintained a neutral rating and suggest that IMX crypto has the potential to reach $1.800 in the following sessions.
Daily Charts Displays Bullish Flag Pattern
On the daily chart, IMX price has witnessed a golden crossover near $0.800 and has persisted in outperforming over the past few sessions. Additionally, the IMX price displayed a range breakout and continued to skyrocket. The technicals display the bulls’ dominance, as the IMX crypto reveals the uptrend on the chart.
The RSI curve stayed in the overbought zone, forming a bullish divergence and signaling buying momentum in the recent sessions. The MACD indicator shows a bullish crossover and green bars on the histogram, suggesting that IMX crypto will perform similarly in the following sessions.
Weekly Charts Demonstrates Rebound From Demand Zone
On the weekly chart, IMX crypto displays a classic W pattern, and the IMX price rebounded from the demand zone of $0.5000. Furthermore, the buyers have persisted in attaining follow-on buying, and that IMX price is now close to the make-or-break zone of $1.5700. Beyond that, the IMX price will rise toward $1.600 soon.
Summary
IMX price displayed a strong uptrend and persisted in surging, witnessing follow-on buying in the past number of sessions. Moreover, the IMX crypto surpassed the round mark of $1.500 and is steering the gains beyond the neutrality. Per the technicals, bulls have attained strength and have set their eyes on the round mark of $1.600.
Technical Levels
Support Levels: $1.500 and $1.400
Resistance Levels: $1.600 and $1.750
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.