IMX Looks Bottomed Here – Ready for the Next Leg Up?
Updated
Ideally, a continued uptrend from here would be the best scenario, and it’s something I’m anticipating before any potential reversal and the formation of a new monthly trend.
There are no new lows in sight after retesting the previous monthly support levels, with clear demand around $1.
If things continue to develop positively, a 5-week consolidation period could provide a stronger signal. For now, this setup is sufficient for me to look for long positions, aiming to hold into $2.5 as a primary target. If momentum and overall market conditions are favorable, new all-time highs could be on the horizon.
IIMX LONG!
Trade active
This is a solid entry point for the monthly retest.
I will keep this active as a significant swing trade.
Comment
There’s been a solid push away from the entry point. Based on the current price action, I anticipate another retest of the buy zone. For the trend to remain confirmed, it’s crucial that the price stays above this area during the retest.
With the recent formation of another higher high, I’m optimistic about the changing market dynamics.
Trade active
This is awesome. 😊🚀
It's moving better than expected. The market dynamics have shifted, and we’ve got a strong weekly candle forming.
Let’s keep holding onto this one!
BTC holding this levels is also nice. Still want to see a solid break above 64k
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