ImmutableX Network crypto plummeted by 7.33% in market value and surged by 90.15% trading volume in the last 24 hours, as per the Coinmarketcap, a crypto data analysis website. Its market value is $713,509,962 and its trading volume is $29,462,494. There are 1,123,390,887 IMX in circulation.
ImmutableX coin’s (IMX) open interest is $11.67 Million. As per Coinglass, another crypto analysis website, it fell by 19.18% in the previous session. The long versus short ratio for 24 hours is 0.8839. The total number of short positions added in the last 24 hours is $5.30 K against longs of $494.47 K.
1Inch (IMX) has a fully diluted valuation (FDV) of $1,279,981,129. This is a hypothetical market cap, assuming all 2 Billion IMX tokens are circulating today. This is according to the crypto data and information website Coingecko. However, the actual FDV may take years to reach, depending on how the IMX tokens are distributed over time.
The IMX coin has not performed well in the last month, decreasing by 13.99% and plummeting by 41.97% in the last six months. ImmutableX Network (BITFINEX: IMX) coin has a positive year-to-date return of 66.50% and a negative one-year return of 38.91%.
IMX Coin Price Technical Analysis in the 1-Day Timeframe
IMX coin price showed a downward trend for the past six months, decreasing by 41.38% during this period.
At the time of publication, the IMX Coin price is trading at $0.6367, and the price is trying to form a pattern which is a falling broadening wedge, if more selling volume adds then the price might drag itself toward new lows.
Therefore, if it fails to maintain the current level, the IMX coin price could continue to move downwards and reach the nearest support at $0.5566 and $0.3756.
However, if the IMX Coin price sustains the current level and rises, then it might hit the nearest resistance levels of $0.8388 and $1.0863.
At the time of publishing, the IMX coin price (BITFINEX: IMX) is trading below the 20, 50, 100, and 200-day EMAs (exponential moving averages), which are rejecting the IMX Coin price trend.
Hence, IMX Coin price prediction estimates the prices to move downwards, indicating a bearish outlook over the daily time frame chart for its price.
The MACD line at 0.0176 and the signal line at 0.0069 is below the zero line. Both lines crossed each other and a bearish crossover is observed in the MACD oscillator, suggesting bearish signals. The current value of the RSI is 29.13 points and the 14-day SMA is below the median line at 43.68 points, which indicates bearish sentiments as RSI took rejection on the 14 SMA line and headed for the oversold zone in the market for the IMX coin and highlighting bearishness.
Conclusion
IMX Coin price prediction highlights the bearish sentiments and perspectives of investors and traders regarding the IMX coin in the daily time frame. ImmutableX price action highlights a bearish view at the time of publishing. Moreover, the technical parameters of the ImmutableX price suggest the continuation of the downtrend over the daily time frame chart. Major trustworthy indicators MACD, RSI, and EMA, provide negative signals regarding the IMX Coin price.
Technical Levels:
- Support levels: The nearest support levels are $0.5566 and $0.3756.
- Resistance levels: The nearest resistance levels are $0.8388 and $1.0863.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/08/16/imx-price-prediction-2023-can-imx-coin-break-support-fall/