- Immutable (IMX) hits a two-year high of $3.05.
- The bulls resist, IMX aims for 3.50 and 4 dollars.
Immutable (IMX) rose to a two-year high of $3.05 amid bullish sentiment in the cryptocurrency market. This 11% jump signals a notable bullish trend after a period of neutrality, reflecting investors’ growing optimism in the coin’s potential.
Despite the overall market declines, IMX has defied the odds, boasting a significant gain of 13.5%, rising from $2.68 to $3.05 in the past 24 hours and currently trading at $2.96. This surge pushed the asset’s market capitalization past the $4 billion mark, securing its position as the 21st largest cryptocurrency by market capitalization.
Immutable Price Chart (IMX) (Source: CoinGecko)
In addition to the impressive price performance, Immutable has witnessed a notable increase in trading volume, rallying by 7.51% with volumes reaching approximately $231 million in the past 24 hours.
Trading above the critical resistance level of $2.50, Immutable’s current price of $2.96 suggests a continuation of the upward trajectory. However, the bears are expected to mount a strong challenge around the $2.95 mark. Failure to sustain prices above $2.50 could signal a weakening of bullish momentum.
Conversely, if the bulls maintain their stronghold and break above the $3.05 resistance level, this could pave the way for further gains, potentially pushing the pair towards $3.50 and possibly $4, reinforcing bullish sentiments overall. inside the market.
