Celestia
Pearl
Quantus
Zcash
Hyperliquid
Aerodrome Finance
NEAR Protocol
- Immutable X was founded by Robbie Ferguson, James Ferguson, and Alex Connolly in 2018.
- The IMX token is the native cryptocurrency of Immutable and this platform launched for users so they can build games on the ETH blockchain.
- It is a bridge between the NFTs and a 2-layer scaling solution. Let’s analyze the token through technical analysis.
Funding provided by Ecosystem
Immutable X Exclusive Chain raised around $300 Million. The Immutable X Multi-chain raised around $600 Million.
Overall the coin is in a downtrend and it was down by 16.65% last year. The coin price fluctuates very quickly.
Allocation of IMX
- Foundation Reserve: 4%
- Public Sale: 5%
- Private Sale: 14.26%
- Project Development: 25%
- Ecosystem Development: 51.74%
IMX Token: Technical Analysis
The token in a 1-D time frame analysis is going in the downtrend only. In today’s session, it is down by 0.76%.
It might continue its fall in the future. The reason for the fall can be that it might make another resistance point on the trend line and carry its downward momentum.
The all-time high was made on 27 December 2021, which was around $5.7912. Its all-time low was made on 30 December 2022 which was around $0.3750.
The Fear & Greed Index shows 46 (Fear). In the last 30 days, the coin recorded 13/30 green days.
It is around 43%, which means the coin was slightly bearish. The current market sentiments of the coin are also bearish.
In the rectangle, there are two types of patterns. The three green candle formation is known as “Three White Soldiers”. The three continuous red candle formation is known as “Three Black Crows”.
The first green formation indicates that the price will start to move up in that direction but it failed. After that three red candle formations indicate that the price will start to move downward.
So, we have to wait till the next candle. If it goes down it is successful but if not it is the failure of formation.
It is difficult to judge whether the IMX coin will go up or down in the future. It is better to wait for some more time before investing in the token.
By 30 September 2023, prices might drop to $0.566480. It will be a 7.27% drop in price if it occurs.
Some information about IMX
The market capitalization of IMX is $698,673,113. It is ranked 47th out of all 9,092 cryptocurrencies listed on the Coin market cap. The market cap increased by 1.27%.
Its total volume traded in the last 24 hours is $30,686,274, which decreased by 15.59%.
Its total supply in the market is 2,000,000,000 IMX. Circulating supply means the total number of tokens available in the trade market.
The Current circulating supply is around 1,169,899,199 IMX which is 58.49% of the total supply. It is ranked 60th out of all 9,092 cryptocurrencies in the market by volume(24 Hours).
Price Prediction of IMX (2024-2030)
| Year | Low | High |
| 2024 | $ 0.531360 | $ 1.405109 |
| 2025 | $ 1.189227 | $ 4.79 |
| 2026 | $ 1.322936 | $ 2.19 |
| 2027 | $ 1.388414 | $ 3.44 |
| 2028 | $ 3.00 | $ 3.38 |
| 2029 | $ 3.23 | $ 6.09 |
| 2030 | $ 3.44 | $ 4.36 |
Live chart: IMXUSD
Conclusion
By analyzing the coin through technical analysis, we can conclude that:
The recovery is only possible when the coin gives any breakout. So far, the chances of recovery are less.
It might continue to go down according to some experts in the cryptocurrency field.
Levels
Resistance Level- $0.7686
Support Level- $0.4199
Disclaimer
The analysis is done to provide knowledge about the coin through technical analysis.
No investment or financial suggestions are given in the article to be made by investors.
The coins are unpredictable so investors should have proper knowledge and information.
