- IMX delivered +25.3% profit after RSI crossed above 70 and TD Sequential flagged exhaustion, confirming a textbook short setup.
- A breakout above $0.720 followed consolidation, supported by aggressive buying pressure and sustained Open Interest growth to 63.5M contracts.
- Bullish momentum holds as long as price stays above $0.720, with $0.740 as the next key resistance and $0.710 as support.
Immutable X recorded a sharp move after technical signals aligned to produce a profitable short trade. The Relative Strength Index crossed above 70, indicating overbought conditions. At the same time, the TD Sequential tool confirmed exhaustion with a Green 9/13 signal.
Price declined quickly from $0.8912 to $0.6656, delivering a gain of more than 25 percent within four days. This decline validated the short entry while highlighting how momentum tools can work together effectively. Such signals often give traders a clear framework for identifying profitable opportunities.
The combination of RSI and TD Sequential reinforced the likelihood of a retracement. Technical alignment supported disciplined entries, while timing ensured profits were secured. However, strong volatility in altcoins continued to underline the importance of proper risk management.
IMX Breaks Out Above $0.720
Following the decline, IMX consolidated between $0.675 and $0.695 before staging a sharp breakout. At around 01:00 UTC, price surged above $0.720 and briefly touched $0.740. The token stabilized near $0.726, confirming a new short-term trend.
Source: Coinalyze
Volume analysis confirmed aggressive buying pressure during the move. The BuySellVolume indicator displayed stronger green bars, while net buying surged significantly. Selling pressure increased afterward, but the market absorbed it effectively.
Aggregated Open Interest also rose in tandem with the breakout. OI climbed from 62M to over 63.5M contracts, showing new long positions entered. Sustained higher OI suggested market participants held their trades confidently.
Market Outlook for IMX
Immutable X now trades above $0.720, maintaining the breakout structure. The setup points to potential bullish continuation if buying momentum persists. A sustained push above $0.740 could open the path to higher levels.
However, if price drops under $0.710, weakness could return. Such a move might force IMX back into consolidation. Traders will likely monitor support closely for confirmation of continuation.
In conclusion, Immutable X turned bullish after completing a textbook short retracement. Rising open interest and strong buying now support the breakout. The token holds above $0.720, keeping near-term momentum intact.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
