- IMX is consolidating near $1.00, targeting $4.91 as its first key resistance level.
- Breaking $4.91 could lead to $9.4049, offering an additional potential gain of over 90%.
- A 255% projected rise positions IMX for significant growth, supported by strong breakout momentum.
Immutable (IMX) has shown strong post-breakout performance, positioning itself for significant upward movement. The cryptocurrency is on track to test its first target of $4.91, a key resistance level. With a potential 255% rise from current levels, IMX could continue to gain momentum, opening the door to even higher targets in the coming phases.
IMX Key Resistance at $4.91
The chart prepared by Javon Marks depicts Immutable (IMX) breaking out from a prolonged downtrend, indicating upward momentum. Two key price levels, $4.91 and $9.4049, are marked as potential targets.
The first major resistance level for $IMX stands at $4.91. A breakout above this price would confirm the ongoing bullish trajectory. The post-breakout action seen so far indicates that $IMX is building the strength needed to challenge this level. This resistance point is crucial, as its breach would not only confirm current market momentum but also set the stage for further price advancements.
According to the chart, current price movements show consolidation near $1.00 after the breakout. The chart’s structure indicates room for further upward price action, contingent on surpassing the outlined resistance levels. Trading volume remains steady, supporting the breakout’s potential trajectory.
Path Toward $9.4049 and Additional Gains
If IMX successfully breaks above $4.91, the next target to watch is $9.4049. Achieving this level would represent an additional potential gain of over 90% from the first target. This progression could push $IMX into new price territories, supported by its strong breakout dynamics and overall market sentiment. The ability to reach and sustain levels beyond $4.91 will be instrumental in determining whether the cryptocurrency can continue its upward momentum.
The current structure of IMX’s price movement indicates that there is ample room for growth. A 255% projected increase positions IMX as a standout performer in the market, with potential gains surpassing many of its peers. Breaking through key levels such as $4.91 and moving toward $9.4049 could further solidify its position in the market.
The post IMX Consolidates Near $1.00 as Next Targets of $4.91 and $9.4049 Emerge appeared first on Cryptonewsland.
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