IMX/USDT Indicating continue the upward movement if breakout!
💎 IMX has recently exhibited noteworthy market dynamics, bouncing from the support of a bullish pennant pattern, signaling a potential upward movement toward testing the resistance of the same pattern.
💎 A successful breakout above the pattern's resistance could pave the way for further upward momentum, possibly reaching our target area.
💎 However, if IMX breaks below the support trendline of the pattern and subsequently breaches the demand area, it will indicate a reversal to a bearish trend. In such a scenario, the price may embark on a downward trajectory, targeting the support area around $2.59.
💎 IMX must bounce decisively from the support area to sustain its upward momentum. Failure to do so, coupled with a breakdown below the support area, would confirm a return to a bearish trend, leading to continued downward movement, possibly towards stronger demand zones.
💎 A successful breakout above the pattern's resistance could pave the way for further upward momentum, possibly reaching our target area.
💎 However, if IMX breaks below the support trendline of the pattern and subsequently breaches the demand area, it will indicate a reversal to a bearish trend. In such a scenario, the price may embark on a downward trajectory, targeting the support area around $2.59.
💎 IMX must bounce decisively from the support area to sustain its upward momentum. Failure to do so, coupled with a breakdown below the support area, would confirm a return to a bearish trend, leading to continued downward movement, possibly towards stronger demand zones.
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