The IMX price leads to the risk of falling at the major $ 0.35 support level as the upcoming token unlock already adds press to the technical setup of recession.
Summary
- The IMX Proce made a return of 25% from July, broke the 20-day EMA and near the 50-day SMA support.
- A descending triangle pattern with $ 0.35 support increases the risk of further recession breakdown, with unlocking 24.52 million IMX tokens with August 8 tokens.
- Catching $ 0.35 and breaking over the upper trendline can create a triple bottom and trigger a rapid reversal to $ 0.67 and higher.
The price of irreversible (IMX) continues after rally from $ 0.34 to $ 0.34 to $ 0.34 on 22 July. The important thing is that the price has reached a 20-day EMA, indicating a change in the short-TRM institution. The 50-day SMA is now acting as dynamic support, the IMX price is still hovering over it-it is dangerly closer to breaking it, TEO.
Even more importantly, the price action on the pass has formed a descending triangle pattern, a strictness that is usually associated with the continuation of the recession. The triangle is defined by the lower heights, which forms the bottom-nand resistance trendline, and $ 0.35 has a horizontal support area, which has already been tested twice. The approach to a thunder towards this support level increases the risk of final breakdown.
Imumutable X Price Prediction
The scenario in which that support is re -tested is further reinforced by the upcoming IMX token unlock, which is determined for August 8, within a week from now. This unlock event, 24.52 million IMX tokens – will be released in the market – equal to 1.30% of the circulating supplement and equal to a value of about $ 12.39 million. While not unusually large unlock, it adds to near-term supply-
However, if the unchanging X priced $ 0.35 support level again and bounces it, it will create gradual defense of that zone – effectively forming a triple bottom pattern. If the IMX price breaks over the upper trendline of the rallies and then the descending triangle, it can be a rapid reversal, renewing the triangle’s recession prejudice. Such a breakout wants to attract fresh shopping interest, possibly running a high level price recently near $ 0.67 and beyond.
