Immutable X: Top Gainer of the Day

Immutable X: Top Gainer of the Day
  • IMX’s market value has risen by 70% since November 16.
  • The critical regions of support are $7.90 and $7.30.

Intuitive transaction confirmation, huge scalability (up to 9,000+ deals per second), and no gas costs are all features of Immutable X. IMX is an ERC-20 utility token for the Immutable X protocol that helps artists, gamers, and developers redefine value in a digital environment.

Today Immutable X reaches a new height. Immutable X has surged over 36% in the previous 24 hours. Since Facebook said it would rename Meta to construct virtual reality environments, several Metaverse-themed crypto assets have soared in value. After recent increases, Immutable X is destined for a profit-taking rally.

Expect a Pullback

IMX’s market value has risen by 70% since November 16, hitting an all-time high of $8.74 today. During the same time span, the remainder of the crypto market lost money. This means that the token may see a little pullback before continuing to rise.

IMX/USDT: Source: TradingView

This morning’s TD setup has flashed a sell signal on the IMX four-hour chart. Increasing selling pressure might bring Immutable X to the 78.6% or 61.82% Fibonacci retracement levels. The critical regions of support are $7.90 and $7.30.

In this case, the $7.30 level may be the “max pain” mark. Given the strength of the IMX uptrend, prices may quickly return following the temporary drop. Immutable X might hit a new all-time high of $9.70 or perhaps $10.20 if buying pressure builds around $7.30. According to CoinMarketCap, the Immutable X price today is $8.04 USD with a 24-hour trading volume of $231,038,627 USD.

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