IMX Technical Analysis Feb 6

IMX, the RSI 14 indicator at the 26.96 level points to the oversold region, while MACD confirms declining momentum with a negative histogram; short-term recovery signals remain weak and the main trend is under downward pressure.

Trend Status and Momentum Analysis

IMX is currently trading at the 0.15 dollar level and is stuck in the daily range of 0.13-0.17 dollars with an 8.72% drop in the last 24 hours. Volume is at medium levels with 31.76 million dollars, but this volume does not confirm strong selling pressure to support the decline. The main trend is clearly downward; price remains below EMA20 (0.21 dollars) and the Supertrend indicator gives a bearish signal, pointing to 0.21 dollars as resistance. In terms of momentum, indicators show weakness: Although RSI is oversold, there is no trend breakout, MACD histogram is expanding in the negative zone, and the EMA ribbon is aligned downward. Multi-timeframe (MTF) alignment is also noteworthy; there are a total of 9 strong levels across 1D, 3D, and 1W charts, distributed as 2 supports/1 resistance in 1D, 1 support/2 resistances in 3D, and 2 supports/4 resistances in 1W. This shows that resistances dominate in higher timeframes and momentum needs additional catalysts for recovery. Overall, momentum is weak and downtrend dominates; short-term support tests may come but volume increase is essential for sustained rise.

RSI Indicator: Buy or Sell?

RSI Divergence Analysis

The RSI 14 period is currently at the 26.96 level and positioned below 30, the classic oversold region. This level may signal exhaustion in price during recent declines, but regular bearish divergence traces are present: While price makes new lows (near 0.13 dollars), RSI appears to hold slightly higher than previous lows, carrying potential for hidden bullish divergence. Nevertheless, the strength of this divergence is limited within the downtrend; although IMX has experienced quick recoveries at similar oversold levels in the past, selling pressure has continued without trend breakout. On the daily chart, RSI may bounce before approaching the 20 level, but overall momentum will remain weak as long as weekly RSI stays below 40. For divergence confirmation, price needs to hold the 0.1290 support level and RSI rise accompanied by volume.

Overbought/Oversold Regions

The oversold region is clear: RSI has stayed below 30 for more than 3 days, which is a warning that buyers may enter. Historically, the RSI 25-30 range in IMX has marked the end of average 15-20% pullbacks, for example, a jump from 28 RSI to 0.22 was observed in last month’s correction. The current 26.96 opens the door for a similar scenario, but MACD’s bearish position may limit this recovery. A move toward the 50 level would be the first confirmation for momentum shift; if it stays below, new tests toward 20 are on the agenda.

MACD Signals and Histogram Dynamics

MACD confirms weak momentum with a negative histogram after the bearish crossover. Histogram bars have been expanding recently, meaning bearish momentum is gaining speed; the signal line is below the MACD line and the gap is widening. This dynamic is more pronounced on the 4-hour chart: Histogram at -0.008 level and showing volume increase compared to previous bars, confirming selling dominance. On daily MACD, distance to the zero line has increased, signaling strengthening of the medium-term downtrend. For a potential bullish signal, histogram contraction and signal line crossover should be awaited; the current structure may bring deeper declines (target 0.0194) if 0.1453 support breaks. Negative histogram supported by volume shows buyers are insufficient.

EMA Systems and Trend Strength

Short-Term EMAs

Short-term EMAs (EMA8, EMA20) are bearishly aligned: Price is below EMA20 (0.21 dollars) and squeezed between EMA8 and EMA20. The EMA ribbon has narrowed, indicating reduced trend strength; this may signal pre-consolidation. On the 1-hour chart, EMA8 support was tested but broken, emphasizing momentum loss.

Medium/Long-Term EMA Supports

Medium-term EMA50 forms resistance around 0.25 dollars, while EMA200 represents the long-term trend at 0.35. Price is far below these EMAs, the ribbon is fully downward and expanding – strong downtrend confirmation. EMA ribbon dynamics in trend strength measurement show momentum favors sellers; recovery requires close above EMA20.

Bitcoin Correlation

Bitcoin is at the 66,557 dollar level and in a downtrend with a 5.70% drop in the last 24 hours; main supports at 65,881, 62,910, and 60,000 dollars. BTC Supertrend gives a bearish signal and rising dominance creates pressure for altcoins. IMX is highly correlated with BTC (around 0.85); if BTC breaks below 65k, IMX’s 0.1290 support may be tested. Conversely, if BTC surpasses 68,501 resistance, opportunities in IMX Spot Analysis and IMX Futures Analysis may arise for IMX, but current BTC weakness is limiting IMX momentum.

Momentum Outcome and Expectations

In the synthesis of momentum indicators, IMX is in a weak position: Although RSI carries oversold bounce potential, MACD histogram expansion and EMA bearish structure strengthen the downtrend. Main support at 0.1290 (score 73/100), followed by 0.1453 on breakout; resistance at 0.1749 (65/100). Bullish target 0.2829 is low-scored, bearish side 0.0194 is risky. Without volume increase, recovery will remain limited; MTF resistance dominance is noteworthy. Watch: RSI above 30 and MACD contraction. Short-term consolidation expected, movement in breakout direction.