The price of IMMUTABLE (IMX) was in the direction of a significant landing recently, as it decreased to its lowest levels in several years. The code has suffered from a sharp drop, and its price is currently about $ 0.433.
If the current direction continues, there is a possibility that IMX will form the lowest new level (ATL).
Fixed investors surrender
Unforgettable display has increased dramatically in the past two weeks. A total of 30 million IMX icons has been added, which increases the total to 165 million IMX. The value of this increase in the offer is about $ 13 million and indicates a transformation in investor morale.
When investors start selling their property, this indicates increasing doubts about the prospects for the distinctive, future symbol. The trend has led to an increase in the sale of pressure, which increases the exacerbation of the current price.
It seems that the overall momentum of penetration is not favorable at this stage. The active headlines, which measure the number of unique addresses involved in the network, at a low level. The lack of participation reflects the investor frequency and reduce confidence in the capabilities of the distinctive symbol.
When fewer titles interact with the network, they generally indicate that there is no new capital that enters the market. As a result, this decrease in the activity contributed to the negative feeling surrounding IMX.
IMX price needs a reflection
The IMX price has decreased by approximately 40 % over the past two weeks, as the special sales of 30 million played an important role in the decline. At the time of writing this report, the price is at $ 0.433, and it is held slightly higher than the decisive support level of $ 0.400. If this support is broken, the price may decrease further, which may reach $ 0.375 or less, which leads to the lowest new level ever.
Constant clouds indicate that the distinctive symbol may not see a recovery soon unless market conditions improve. If IMX is able to stick to more than $ 0.400, there is a little opportunity to settle before testing additional resistance levels. However, the penetration of $ 0.400 support is likely to lead to more losses.
For more optimistic scenario, IMX will need to restore the support level of $ 0.508. This can pave the way for a possible recovery, allowing the price to rise about $ 0.684.
A successful violation of these levels can nullify the landfill and provide some hope in contrast to the recent losses.
Disintegration
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