Immutable Seeks an Extension of Previous Gains

The Immutable market has shown some consistency in upside movement. This is noticeable, as the token has appeared on the list of top-performing crypto coins for the second day in a row. Today, this coin has registered a price increase of over 1.41%, but as of this time, it has achieved this much price growth. Let’s take a closer look below.

IMX Market Statistics

Current Price: $0.742

Market Capitalization: $1.43B

Circulating Supply: 1.93B

Total Supply: 2B

CoinMarketCap Rank: 66

Key Price Levels

Resistance: $0.800, $0.850, $0.900

Support: $0.700, $0.650, $0.600

IMX Takes Support Above the 9-Day EMA

While the previous session in the Immutable token daily market poked through the resistance at the 9-day Exponential Moving Average (EMA), the ongoing session produces a continuation of the previous upside rebound as it stands above the 9-day EMA line.

Also, the lines of the Stochastic Relative Strength Index (SRSI) indicator can be seen converging for an upside crossover in the oversold region, and this points to the fact that the upside movement may continue. Albeit, it is worth noting that the ongoing session is under pressure.

Immutable Gains Melt

On the 4-hour price chart, the last price candle on this chart can be seen standing still above the 9-day EMA curve. It is noticeable that the mentioned price candle has a downward contraction, leaving it with a long upper shadow.

This reveals that downward forces are acting in the session. The SRSI lines can be seen converging for an upward crossover at the 80 level of the indicator. An eventual crossover here will hint at an upward continuation toward the $0.800 price level.

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