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From a much bigger point of view, it could be seen that IMX price action has generally been extending the price upswing that started in late October. There have been a few stops along the way, but they were only short-lived as price action soon resumed the uptrend. At this point, buyers seem to be focusing on hitting a target at the $2.600 price level.
Key Immutable Statistics:
Current IMX value: $2.477
Immutable’s Market Cap: $3,256,853,946
IMX Circulating Supply: 1,296,459,367 IMX
Immutable Total Supply: 2,000,000,000 IMX
Immutable CoinMarketCap Ranking: 31
Key Price Levels:
Resistance: $2.477, $2.500, and $2.600
Support: $2.400, $2.300, and $2.200
IMX Price Marches Past the $2.200 Mark Set Sail Towards Higher Marks
Immutable has continued to trade above the defeated resistance at the $2.200 price level on the daily timeframe market. The token currently trades at $2.477 and seems very much in the green, considering indications coming from technical indicators.
The ongoing session is holding at a good distance above the 21-day Moving Average (MA) line. Likewise, the Moving Average Convergence Divergence indicator lines continue to trend slightly in the upward direction. However, on this timeframe, the closeness of these indicator lines is indicative of decreased volatility, but the size of the price candle for the ongoing session seems a bit contradictory to this.
Immutable Bulls Are Finding a Strong Footing
Early into the session in the IMX 4-hour market, it can be seen that buyers are already taking a strong position. This is revealed through the last price candle on the chart, which formed right at the close of the previous trading session that ended on a positive note.
Also, the MACD indicator lines for this chart are now approaching a crossover above the equilibrium level. Its bars are also telling us that downward forces are getting weaker. This may lead to a further surge in the price of the immutable token, at least towards the $2.600 price level.
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