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- Immutable X’s fear and greed index was 30, showing fear among investors.
- The IMX token price was down by 27% in the last 1 year.
In the last 24 hours from the press time, the market cap of the Immutable token advanced by 6.2%. This was followed by an advance of 16.8% in the value of traded volume. It showed a surge in token demand among investors.
The token price was highly volatile, resulting in a volatility of 13.9%. This might lead to uncertain spikes in the future. Additionally, at press time, 29% of the token’s total holders were in profit.
The large holders’ concentration in the Immutable token was 90%. Also, 38% of the token holders have held it for over one year. Also, in the last 30 days, the token witnessed higher exchange outflows worth $3.03M.
The Immutable token price sentiment was further neutral per the analysts, with a market cap dominance of 0.08%.
The token’s supply inflation was very high, resulting in 31.94%, followed by a circulating supply of 1.572B IMX. Also, the total and maximum supply was 2.0B IMX, resulting in a fully diluted market cap of $2.325B.
Immutable Token Derivatives Data Analysis
The derivatives traded volume of the Immutable token advanced by 26% over the last 24 hours. It resulted in a traded value of $32.51M. This showed a rise in the token’s derivatives activity.
The token’s open interest also advanced by 15.6%, following the surge in the traded volume. This showed a rise in the open positions, resulting in a value of $31.11M.
Despite this, a larger sum of longs was liquidated in the last 24 hours worth $18.40K against the shorts of $12.41K. This showed sellers’ dominance in the short term.
IMX Token Technical Analysis
The IMX token price followed a strong downtrend and continuously declined to lower levels. This was followed by lower lows on the chart for the last five months.
The following behavior of the IMX token price led to a falling wedge pattern. The token price was traded inside the same at the time of writing. This exhibited the dominance of sellers in the price over the months.
Suppose the IMX token price further breaks above the falling wedge pattern with a strong surge in volume. If this happens, we might see a bullish reversal in the token price.
Immutable Token Technical Indicator Overview
Most of the technical indicators on the IMX token daily chart exhibited strong bearish behavior. This is because the price witnessed a consistent decline over time.
IMX/USD Chart by TradingView.com
The 50-day and the 200-day EMAs on the token’s daily consistently declined over time, followed by a death cross on the chart. IMX token price also traded below the following EMAs, showing a strong downtrend.
The supertrend further gave a sell signal, and the token price was traded below the average true range level.
The MACD and the signal line further overlapped and traded in the negative trajectory for a long time. This showed a weakness in the IMX token price.
The RSI also sustained below the 50 level and overlapped the 14-day SMA. At the same time, both metrics traded at 44 at press time.
The IMX token price might further take support at $0.510 and $0.90, followed by resistances of $1.60 and 2.60.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
