In this Immutable (IMX) price prediction 2024, 2025-2030, we will analyze the price patterns of IMX by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Immutable (IMX) Current Market Status/h2
SUI Current Market Status (Source: CoinMarketCap)h2 What is Immutable (IMX)/h2
Immutable X is a layer-2 scaling solution for NFTs on Ethereum. It was created to improve Ethereum’s scalability and user experience. IMX is the native token of Immutable X. It was used to pay for transaction fees and incentivize users and developers on the platform.
Immutable X was founded in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly. The platform provides game developers and all NFT creators with unmatched throughput at zero gas rates for trading and mining NFTs in a carbon-neutral environment.
Immutable 24H Technicals/h2
(Source: TradingView)
h2 Immutable (IMX) Price Prediction 2024/h2
Immutable (IMX) ranks 22nd on CoinMarketCap in terms of its market capitalization. The overview of the Immutable price prediction for 2024 is explained below with a daily time frame.
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In the above chart, Immutable (IMX) laid out the Rounding Bottom. That signifies a long-term reversal in price trends, typically observed after extended downward movements lasting weeks to months. Distinguished from the cup and handle pattern, the rounding bottom lacks a temporary downward handle. Its initial slope indicates excess supply, pushing prices down, but a shift occurs as buyers enter at lower prices, boosting demand. Once the rounding bottom forms, a breakout signals a new upward trend, suggesting a positive market reversal and a shift from bearish to bullish sentiment.
At the time of analysis, the price of Immutable (IMX) was recorded at $2.9554. If the pattern trend continues, then the price of IMX might reach the resistance levels of $$3.2730 and $21.7419. If the trend reverses, then the price of IMX may fall to the support of $0.5022.
h2 Immutable (IMX) Resistance and Support Levels/h2
The chart given below elucidates the possible resistance and support levels of Immutable (IMX) in 2024.
IMX/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Immutable (IMX) for 2024.
IMX Resistance & Support Levelsh2 Immutable (IMX) Price Prediction 2024 — RVOL, MA, and RSI/h2
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Immutable (IMX) are shown in the chart below.
IMX/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Immutable (IMX) market in 2024.
In the below chart, we analyze the strength and volatility of Immutable (IMX) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
IMX/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Immutable (IMX).
h2 Comparison of IMX with BTC, ETH/h2
Let us now compare the price movements of Immutable (IMX) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs IMX Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of IMX is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of IMX also increases or decreases respectively.
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Immutable (IMX) between 2025, 2026, 2027, 2028, 2029, and 2030.
h2 Conclusion/h2
If Immutable (IMX) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Immutable (IMX) price prediction for 2024 is $5.7076. Comparatively, if unfavorable sentiment is triggered, the bearish Immutable (IMX) price prediction for 2024 is $1.6941.
If the market momentum and investors’ sentiment positively elevate, then Immutable (IMX) might hit $5. Furthermore, with future upgrades and advancements in the Immutable ecosystem, IMX might surpass its current all-time high (ATH) of $9.50 and mark its new ATH.
This content was originally published by our partners at The News Crypto .
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The News Crypto
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