IMX/USD Bullsdam Falling Prices

Buying pressure in the Immutable X market has not been as strong as before after the bull market fell from the $1.25 price level on August 8th. Buying pressure is too weak to sustain the bullish trend. However, the market has seen some selling momentum in recent days, so buying momentum is likely to pick up as well. With the current support at $0.354, the price may bounce upwards.

Immutable X Market Price Statistics:

• Current IMX/USD Price: $0.377
• IMX/USD market cap: $331.33 million
• IMX/USD Circulating Supply: 679,443,993.7
• Total IMX/USD Supply: 270,000,000
• IMX/USD Coin Market Ranking: 113th

key level

• Resistance: $0.722, $0.822, $1.000
• Support: $0.270, $0.230, $0.165

Immutable X Market Price Analysis: Indicator Perspective

The RSI indicator shows that the market has plunged to the oversold level of 22.91 and is now making a rebound move. However, the price correction seems very slow as the RSI line is currently at just 26.96. The bull market does not appear to be bullish enough to sustain a bullish trend. In contrast, however, a Bollinger indicator with diverging upper and lower bands implies pressure from both supply and demand, although strong selling pressure may be at the bottom. The band is more divergent than the upper band.

BAND/USD 4-Hour Chart Outlook

The bull market hasn’t made much progress in today’s market, aside from the support prices anchoring the bear market. The main concern now is that if the tug of war continues, a bear market could break out and continue to drive prices lower. In that case, the price’s next stop could be $0.254.

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