Towards the end of September into the first two days of October, the struggle between Immutable X buyers and sellers became very intense. It was so intense that the price has no distinct direction. The price did not progress much from the point where it opened on some of the days that end the month of September. But, on the 5th day of August, the price found a new direction to the downside but, the bearish pressure of Immutable X reduces as the market progresses. This will ultimately culminate in a trend reversal as the bulls will eventually gain the upper hand.
Immutable X Market Price Statistic:
- IMX/USD price now: $0.553
- IMX/USD market cap: $130,234,815
- IMX/USD circulating supply: 235,284,001.00
- IMX/USD total supply: 2,000,000,000
- IMX/USD coin market ranking: #167
- Resistance: $0.5500, $0.600, $0.625
- Support: $0.5000, $0.4800, $0.4500
Immutable X Market Price Analysis: The Indicators’ Point of View
The Bollinger band tightened up its band in the early days of October. This was a signal that the price will soon find a new direction and that was what happen as the market took up its downside journey. In today’s market, the bearish move reduces greatly giving us the signal that a trend reversal is on the way. The RSI line has gotten into the oversold zone measuring 23%.
IMX/USD 4-Hour Chart Outlook
The Bollinger band in this point of view is now showing signs of convergence of the upper and lower band of the indicator in the fourth session of today’s market. The convergence of the two bands is a sign that a trend reversal will soon ensue.
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