Immutable Price Prediction: Is $5 the Next Stop for IMX?

IMX price rise from $1.6700 low signals end of correction

• Despite a recent 30% positive return in the last 30 days, #Immutable price trend remains stagnant in a sideways loop.

• A significant 16% surge on Wednesday failed to sustain bullish momentum, indicating substantial overhead supply.

• On the 1D chart, IMX price is moving sideways, surpassing resistance trendline pullbacks.

• Currently, $IMX price is on the rise, finding support from a trendline.

• The token's rejection near the 38.20% Fibonacci level suggests a limited chance of a sustained uptrend, indicating a possible bearish reversal toward $2.0000.

• Confirmation of a bullish trend requires a breakout from the $2.5000 area, potentially moving towards the 0.618 Fibonacci retracement resistance at $2.9700.

• According to Coingabbar Prediction, However, rejection from this area could lead to a drop towards the ascending support trendline at $2.0500.

KEY LEVELS :

RESISTANCE LEVEL : $2.9000-$4.0000

SUPPORT LEVEL : $1.6000-$0.8000

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