Crypto news

IMX Is Skyrocketing – But Will It Crash or Keep Soaring?

BBG News

Well, well, well, what do we have here? Immutable’s native token, IMX, is putting on quite the show today, dancing around with a dazzling 12% surge! 🚀 Currently strutting its stuff at a solid $0.639, it’s managed to break free from that pesky downward channel that had been holding it hostage since February 2025. Talk about a breakout performance! 💥

$IMX

UPDATE#IMX already breakout done. Getting a good volume here. Expecting 100%+ gain in this move ✍🏻#IMXUSDT #IMXBTC #BTC #Bitcoin #Crypto

— Alice Crypto (@Allice_Crypto) May 2, 2025

According to our ever-helpful friends over at Santiment (the people who are basically like the nosy neighbors of the crypto world), the long/short ratio for IMX has climbed to 1.004. What does this mean? Well, it means the long side is winning. Everyone’s in the “buy” camp, expecting more upside than a mountain goat on a sugar high. 🧗‍♂️

more people are jumping on the IMX train as the price climbs. This is like everyone suddenly realizing that the party has started, and they all want in. 🎉

Now, hold onto your hats because here’s the kicker: IMX’s trading volume has exploded by a mind-boggling 300% in the last 24 hours, according to CoinMarketCap. And the market cap? Oh, that just shot up 11%, hitting $1.16 billion. Looks like someone’s been drinking the crypto Kool-Aid! 🥤

This sudden surge in interest comes at a time when the entire crypto market seems to be slowly climbing out of the trenches. Investors are starting to return to the scene, and they’re apparently on the lookout for projects with “real-world use cases” – like Immutable’s game-focused ecosystem. It’s almost as if people are starting to remember that crypto can actually be useful. 🤔

IMX Price Outlook

The IMX daily chart is starting to look like a cryptic treasure map, with an inverse head and shoulders pattern emerging. The “head” is chilling around $0.45, while the “shoulders” are lounging between $0.50 and $0.52. The real fun starts when the neckline breaks at $0.60 – that’s when we know the bullish reversal is officially on! 🔥

If the momentum keeps up, we could see the price heading toward $0.75–$0.80. But be warned, this is crypto. It could go anywhere. 🎢

Meanwhile, the RSI is hanging around 64 with an upward gradient. This means that there’s bullish momentum in the air, but don’t worry – it’s not in overbought territory yet. However, if RSI hits 70, we might see a short-term correction. It’s like a rollercoaster ride – you’ll love it, but you might want to scream a little. 🎢😱

IMX price chart | Source: TradingView

Bollinger Bands are showing the price pressing up against the upper band – a sign that there’s some serious buying pressure at play. If volume continues to rise, we could see the band squeeze tighten and lead to an even bigger breakout. But, if IMX can’t hold onto the upper band, expect a retracement back to the mid-band (20-day SMA) near $0.52. In other words, buckle up. 🚗💨

IMX price chart | Source: Trading View

And lastly, the MACD is showing a bullish crossover, with green bars popping up on the histogram. As long as that keeps going, the bulls are still in charge. A daily close above $0.68 could propel IMX toward $0.75–$0.80. In short, this is a party that looks like it’s just getting started. 🕺💃

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2025-05-02 23:53

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