IMX, the native token of Immutable, saw a 5% surge, aiming to breach multi-month resistance levels.
Points
- IMX price surge of 5%
- Increased demand and network activity
- Targeting resistance levels
- Potential for sustained price rally
Immutable （IMX） experienced a 5% price surge during Monday’s intraday trading session, peaking at $1.58 before settling at $1.51. On-chain data shows a significant uptick in demand, pushing its price closer to the upper line of the descending channel that has formed resistance since March 12.
IMX’s price has been trending within a descending channel, a bearish signal, creating lower highs and lower lows. Despite this, the recent surge in network activity is a bullish indicator, suggesting growing adoption. With the rising Chaikin Money Flow （CMF） and increasing buying pressure, IMX’s price might rally to $1.77.
解説
- The recent demand surge for IMX indicates increased investor interest.
- Breaching resistance levels could lead to a sustained price rally.
- On-chain data and network activity are key indicators of market trends.