•FLOW/USD is currently priced at $5.67 and has increased 3.09% over the past day
•The technical indicators suggest a positive outlook
•The trading volumes have decreased by 12.90% over the past day
Short Term View: IMX Crypto continues to attract swathes of buyers
The Immutable X price today is $0.990432 USD with a 24-hour trading volume of $34,901,381 USD. IMX Crypto is up 1.33% in the last 24 hours. The trading volumes have decreased over the past day, suggesting possible profit-taking occurring at the current price levels. The Volume to Market Cap Ratio, on the other hand, stands at 0.1498.
The IMX Crypto is currently transacting above the 50 SMA but below the 20 SMA on the 4-hour chart, which suggests that there is indecision amongst the investors in the market. The immediate resistance for Immutable X resides at the all-important $1 mark. Breaching this level could be the beginning of a rally for Immutable X, and further upside is capped at $1.10. The bears staging a comeback could, however, make a considerable dent for the asset, which could see the Immutable X prices tumbling all the way down to the support placed at $0.90.
Long Term View for IMX Crypto
The RSI indicator for Immutable X is currently transacting at 56.54 after the altcoin showed strength in movement. The price strength has waned a bit over the past day as is demonstrated by the reduction in the size of the green histograms. However, the momentum is still siding with the bulls as the MACD and signal lines have ventured into positive territory. Hence the future prospects of IMX Crypto look good.
Conclusion
IMX Crypto has been building momentum over the past couple of weeks and looks poised to make a splash. Hence, we are likely to see prices moving upwards in the near future.
Support: $0.95-0.90
Resistance: $1-$1.10
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/07/09/imx-price-analysis-rising-bullishness-in-immutable-x-could-lead-to-range-breakout/