- IMX confirms liquidity sweep at Fibonacci 0.5, targeting $0.96.
- Bullish order flow shift with support at $0.352.
- Institutional bias supports potential upside if momentum persists.
The Immutable (IMX) token is making waves in the crypto market as technical analysis points to a potential bullish reversal. According to a recent post by Crypto Patel on X, a liquidity sweep has been confirmed, aligning with the Fibonacci 0.5 retracement level, signaling a shift in order flow. Currently trading at $0.413 with a slight 3.95% dip, IMX has found support near the $0.352 mark, a key level highlighted on the TradingView chart. The chart also indicates a rejection block, suggesting that bulls are stepping in to defend this zone. With institutional bias remaining bullish, the next target is a liquidity draw at $0.96, a move that could see significant upside if momentum holds.
The analysis underscores a strategic setup, with stop-loss (SL) levels recommended below the rejection block to manage risk. The chart projects a potential climb toward previous highs and buy-side liquidity zones between $0.635 and $0.969, with the $0.96 mark acting as a critical psychological barrier. This bullish outlook is further supported by IMX’s recent market activity, including its fully unlocked supply and partnerships like Ubisoft, which bolster its long-term potential.
Traders are eyeing this setup closely. A clean break above $0.50 could confirm the bullish trend, while a failure to hold $0.352 might trigger a deeper correction. The crypto community is abuzz with optimism, with many anticipating a strong bounce if the current support holds.
For investors, this presents a high-reward opportunity, but tight risk management remains essential. Keep an eye on volume and institutional flows, as they will be key drivers in the coming weeks.
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.
