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ICXUSDT (Icon) and the Range-Trading Conundrum🌟In the ever-evolving world of crypto, ICON (ICX) against USDT (Tether) presents an intriguing narrative. To comprehend this evolving scenario, we delve into the recent price action and pivotal technical indicators. 🌟Today, ICXUSDT witnessed a notable event – a clean rejection transpired at the 88.6% Fibonacci resistance level. This particular price juncture has significant implications, indicative of both short-term price dynamics and broader market sentiment. Concurrently, this level aligns with a robust supply zone that has established itself over the preceding six months. 🌟This confluence of technical factors spotlights the prevailing dominance of sellers within the IMXUSDT market. A critical aspect contributing to this bearish bias is the resolute failure of bullish forces to conquer the formidable supply zone. Their inability to breach this critical threshold amplifies the control wielded by sellers in this market. 🌟Furthermore, as we dissect the prevailing market structure, a compelling proposition emerges. The potential existence of a substantial range-trading zone complicates the traditional conception of trend dynamics. Instead, it sets the stage for more lateral price movements, rather than a decisive trend. This observation underscores the intricate and finely balanced market sentiment surrounding ICXUSDT. 🌟In summation, with a heightened degree of confidence, it can be projected that the cryptocurrency's price will endeavor to navigate a southward trajectory once more. This projection prompts a vigilant assessment of two critical price zones. 🌟The initial zone, situated around the 61.8% Fibonacci support, near $0.18, signifies a minor demand zone. Additionally, its position within the broader price structure of IMXUSDT marks it as an area where buyers have historically exhibited a propensity for engaging in significant market activity. 🌟Subsequently, the second zone, at approximately $0.15, gains prominence as it aligns with the establishment of a double bottom pattern within the ICON price narrative. This double bottom formation underscores the region's inherent capacity to serve as a robust demand area, historically attracting buyers and fueling market demand. In closing, the ICXUSDT market offers a nuanced tapestry of resistance levels, supply zones, and historical support regions. Navigating these complexities is essential for traders and investors, as they seek to formulate well-informed strategies within this ever-dynamic crypto landscape.
Short
by CryptoPAMM
IMX/USDT planning for bullish move? 👀 🚀 IMX Today analysis💎Paradisers, IMXUSDT! We've observed a compelling shift as it breaks free from its descending channel, setting the stage for a potential bullish surge. 💎 For quite some time, IMX has been tracing the contours of a descending channel. However, in the shorter time frame (LTF), it has successfully breached this channel. 💎 We're confident in its potential to embark on a bullish trajectory and challenge the overhead bearish OB. Additionally, its current positioning within the demand zone amplifies the bullish outlook. 💎 However, always be prepared: if the price dips below the pivotal support zone, we might see a pronounced bearish downturn. 💎 Remember to employ prudent trading strategies and use proper stop-loss measures! Stay alert to market movements and look forward to more insight
Long
by MyCryptoParadise
Brief Analysis——IMXIMX saw a significant rise last week, but the it turned negative in the following days. IMX is a token developed by the project Immutable X. Immutable X is a Layer-2 solution built on the Ethereum blockchain, aimed at addressing issues such as high transaction fees and transaction speed delays, especially in the NFT (Non-Fungible Token) space. During the rise in September, the project did not release any good news. The rapid rise in price was mainly driven by the exchange Upbit in South Korean. We can see the same situation on IMX as previously for many other tokens via the WTA indicator. But this time the whale's action was clearer. First, in the green rectangle, we can see that whales began to flow into IMX while the price remained volatile. Although the blue column representing the whale is not obvious after being compressed, whales have participated in the transaction for four consecutive days. This is a bottom-buying behavior before pulling up. After that, the long green candle appeared and the price increased by almost 35%. On most other tokens, when whales outflow, participation will decline or even disappear, and price will continue to fluctuate to help whales reap profits. But for IMX, we can clearly see that when the long red candle appears, the blue column does not have disappeared, and whales participate in the transaction, which shows that whales are urgent to close long positions. After such a situation occurs, most gains will be given back in the future. We can see that IMX has rebounded in recent hours, but on the WTA indicator, only retail investors are participating in transactions. Judging from the performance of whales closing long positions last week, the decline may not be over after losing the support of whales. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Short
by Sypool
1
IMX: Approaching SupportTrade setup : Following a bearish breakout from an Ascending Triangle pattern, price resume its downtrend. It briefly broke below $0.55 support, which held up in June, but recovered with huge volumes and spiked back up to $0.80 resistance (also 200-day moving average) where it got rejected. It needs to break above those levels to resume uptrend. Trend : Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis. Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). Support and Resistance : Nearest Support Zone is $0.55, then $0.40. The nearest Resistance Zone is $0.80, then $1.25.
Long
by altFINS
2
IMXUSD Just hit the 1D MA200! Another rejection?Immutable X (IMXUSD) is seeing a huge rally today, almost +50% so far, that has hit the 1D MA200 (orange trenf-line) and the top (Lower Highs) of the Channel Down. The previous 1D MA200 test (July 28) was a clear rejection and what started August's massive -46.80% decline. The last such decline (-46.95%) was in May/ June, the first sell wave within the dominant Channel Down pattern. We are willing to buy every 1D MA50 (blue trend-line) pull-back and target the Higher Highs trend-line at 1.03500. If on the contrary the price breaks below the Higher Lows, we will sell and target a little above Support at 0.48000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:IMXUSDLong
by TradingShot
4
IMX/USDT Starting Accumulation, Bullish Momentum ??? Hello Paradisers, Token to Keep an Eye On! 💎 IMX has been rejected twice after reaching a strong demand zone. The hourly chart displays a double bottom pattern, signaling a favorable entry point. 💎 IMX is likely to test its supply zone next and will need to break through to sustain an upward trend. The presence of a strong green candle indicating bullish rejection is usually a sign that upward momentum and accumulation are underway. 💎 Should IMX fail to maintain its position in the strong demand zone, it's likely to drop to the Bullish Order Block (OB) area, where we can expect a significant rejection and a gradual break through the supply levels.
by MyCryptoParadise_Nathan
17
IMX/USDT is Showing Bullish Momentum | Immutable Analysis💎 IMX/USDT is currently navigating a descending channel, with a potential breakout on the horizon. 💎 If this breakout happens, it's poised to catalyze a projected impulsive surge. 💎 Notably, there's a confirmed order block in the shorter timeframe. Due to existing liquidity, the price is anticipated to gravitate toward these levels. 💎 In a previous phase, demand transitioned to supply, leading to a marked price decline and aiming for the prior OB. 💎 In the ever-fluctuating crypto landscape, being updated and flexible is essential. Keep a lookout for further insights and savor your trading voyage.
Long
by MyCryptoParadise_Nathan
IMXUSDT Steady Ascent in Ascending Channel 📈💎 Over the past 30 days, #IMXUSDT has maintained a consistent upward trajectory within the confines of an ascending channel. Throughout this period, the price has remained above a critical demand zone, situated near $0.6962, suggesting strong interest from buyers in this area. 💎 Recently, #IMX tested the support zone once again, effectively bouncing off the bottom of the ascending channel. This price action signals a continuation of the upward trend, with #IMX potentially aiming for the 161.8% Fibonacci resistance at $0.8360, which aligns with a previously established supply zone. 💎 However, it is essential to consider an alternative scenario where a downtrend takes shape. In this case, a break below $0.6710 would signal a shift from bullish to bearish dominance.
Long
by MyCryptoParadise
1
IMX: Ascending Triangle BreakoutTrade setup : Bullish breakout from Ascending Triangle, above $0.75 resistance, and with massive volume, could signal bullish trend reversal. Upside potential to minor resistance of $0.87 (200-day MA) or even $1.00 thereafter. Pattern : Ascending Triangle which is a continuation pattern (it typically breaks out in the direction of existing trend). Most traders wait for a breakout but Swing traders could trade between the trendlines (Buy at Support, Sell at Resistance) as long as the trendlines are still relatively far apart. Trend : Neutral on Medium-Term basis and Downtrend on Short- and Long-Term basis. Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $0.55. The nearest Resistance Zone is $0.75, which it broke, then $1.00, and $1.30.
Long
by altFINS
IMX/USDT bullish setup …!!👀 🚀IMX Today Analysis💎 IMX is primed for a bullish move as it's currently trading within a falling wedge pattern while maintaining strong support. We're anticipating a breakout in the near future. 💎IMX is on the verge of crossing over the EMA 50. If it manages to sustain its position above this level, it could further bolster the bullish momentum. 💎The VRVP is currently showing substantial volume, which is another factor to consider. Moreover, trading in a high-demand area could be a strong signal for a bullish move. 💎If IMX manages to break the resistance area at .749, we could see a significant move towards the $1 mark 💎However, if the price re-enters the box area, it could trigger a significant downward move. 💎In the dynamic world of crypto, staying informed and adaptable is key. Stay tuned for more updates and enjoy your trading journey
Long
by MyCryptoParadise_Simon
ImmutableX IMXUSDT Price Analysis (1h - 1d)📊✨ IMXUSDT on the 1h timeframe presents an interesting opportunity! Here's what we observed: Support Zone: There is potential for a slight dip towards the $0.70 support zone, which could set the stage for a potential rebound. Big Picture Analysis: Looking at the 1-day timeframe, we see a larger structure supporting an upward move. RSI Divergence: IMXUSDT shows a strong correlation with RSI Divergence, making it a reliable indicator for predicting price movements. Breakout from Resistance: The price has broken out from the red resistance line, signaling a potential rise and presenting a bullish opportunity. Bullish Divergence: Prior to the breakout, a bullish divergence pattern was observed, further supporting the anticipated upward movement. 🎯 Price Targets: Our analysis identifies two significant targets at 0.916 and 1.164, representing strong historical resistance and support levels. Considering the correlation, breakout, and bullish divergence, we anticipate a potential rise in IMXUSDT.
by Vestinda
ImmutableX IMXUSDT Price Analysis (1d)Analyzing IMXUSDT on the 1-day time frame has revealed some interesting insights. Here's an overview of our analysis: RSI Divergence: Our analysis indicates that the price of IMXUSDT highly respects RSI Divergence, demonstrating a strong correlation between the two. This suggests that RSI Divergence can be a reliable indicator for predicting price movements. Breakout from Resistance: Currently, we are witnessing a breakout of the price from the red resistance line. This breakout indicates a potential rise in price and presents a bullish signal for traders and investors. Bullish Divergence: Prior to the breakout, we observed a bullish divergence pattern, further strengthening the indication of a potential upward movement. This pattern enhances our confidence in the anticipated rise in price. Price Targets: Based on our analysis, we have identified two significant price targets. The first target is at 0.916, representing a strong resistance level in the past. The second target is at 1.164, which has served as a notable support level. These levels present attractive targets for potential price breakout Taking into account the strong correlation between price and RSI Divergence, along with the breakout from resistance and the presence of bullish divergence, we have a compelling case for a potential rise in IMXUSDT. Our price targets of 0.916 and 1.164 provide clear levels to monitor for future price action..
by Vestinda
1