Price Analysis View Non-AMP

IMX Price Retest Rally Brings A 60% Upside Potential

Published by
Sohrab Khawas

As the altcoins are taking crazy jumps overnight, the IMX token displays a similar price action and completes a retest. The post-retest reversal undermines the sideline anticipations of a bearish continuation. 

As the selling pressure over the altcoin subsides, will the Immutable token create a bullish peak? Check out now in our detailed IMX price analysis as we try to find out the future trend continuation. 

Immutable Price Performance

Despite a positive return of 28% in the last 30 days, the IMX price trend remains stuck on a sideways loop. Further, the 16.5% jump on Wednesday, struggling to sustain the bullish momentum over the next two days, reflects a huge overhead supply. 

In the 1D chart, the IMX price moving sideways exceeds the pullback’s resistance trendline. However, the overhead supply drives a retest. The recent jump of 21.65% within 72 hours marks the post-retest jump in the Immutable token.

However, the altcoin is trading at $2.49 and struggling to surpass the psychological level of $2.50. Despite the token surpassing the 23.60% Fibonacci level, the uptrend chances are slim and warn of a bearish reversal to $2. 

Technical indicators:

DMI: The turnaround in the IMX token leads to a bullish crossover in the VI lines, teasing a trend reversal. Further, the ADX line flattens for a potential uptick, hinting at a surge in momentum. 

RSI: The daily RSI line shows a constant rise, surpassing the halfway line and approaching the overbought zone. 

Will The IMX Price Top $4?

As the overhead supply is massive, the IMX price could retest the recently surpassed 23.60% trend-based Fibonacci level. However, if the bull run sustains in the Immutable token, then it might surpass the $3.779 peak to reach $4 in the coming weeks. 

On the flip side, a slide under $2.228 could hit $2. 

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Recent Posts

Choosing Between Ripple (XRP) and Cardano (ADA)? ChatGPT’s 2025 Prediction Could Change Everything

Investors often face a tough choice between Ripple's XRP and Cardano's ADA as potential winners…

April 25, 2025

Solana Price Analysis: Key Insights and Updates

Bullish momentum has been building up for Solana, amid a highly anticipated altseason before the…

April 25, 2025

Solana (SOL) Price Stuck at a Major Resistance—Can it Reach $180 in May 2025?

The crypto market, since the beginning of the second fortnight of the month, has been…

April 25, 2025

Here’s When Altcoins Like XRP, ADA and DOGE Will Rally

The crypto market is consolidating after a strong rally earlier this week, with Bitcoin holding…

April 25, 2025

Best Crypto to Buy Now as XRP Price Rallies

The XRP price rally has created fresh momentum in the crypto market, as Bitcoin moves…

April 25, 2025

2 Best Cryptos To Buy Under $0.50 That Analysts Say Could Skyrocket in 2025

In a market known for rapid moves and unpredictable trends, finding cryptocurrencies under $0.50 with…

April 25, 2025