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IMXUSDT trade ideas

TradeCityPro | IMXUSDT Potential 30% Drop👋 Welcome to TradeCityPro Channel! Let’s take a look at today’s altcoin on this market holiday, especially for those holding IMX, as it might experience a drop once the market reopens. Before starting the analysis, as always, let's first check Bitcoin. On the 1-hour timeframe, Bitcoin dropped last night after getting rejected at 105,939, making a sharp move down to support at 101,654, where it is currently holding. Along with this drop, Bitcoin dominance also fell, preventing altcoins from experiencing significant losses. However, as Bitcoin ranges at this support, its dominance is rising, which is causing altcoins to drop. If this trend continues, altcoins will likely undergo a deeper correction. I personally plan to open a short position if 101,654 breaks, but I will secure profits quickly and exit fast. On the other hand, if Bitcoin breaks 102,571, I will enter a risky stop-buy long position, as I believe its movement to the upside could be as sharp as its previous drop, and I will set a logical stop-loss. 📉 Weekly Timeframe Looking at the IMX weekly chart, we see that compared to 2023, it is holding a higher low, which is a bullish sign. However, the fake breakout and rejection at 1.817 led to a return inside the range, and sellers are now attempting to break the range low. Let’s also talk about the candlestick pattern I highlighted on the chart. I’ve personally seen this pattern many times—it typically appears at the end of a trend and signals a potential reversal. I will discuss it more in the future, but for now, just take note of this behavior. Additionally, after last week’s candle, IMX is trying to close below the key weekly support and range low at 1.084. If this breakdown is confirmed, it would signal a range breakdown, leading to a bearish correction towards the next major support at 0.764, which would be a 30% drop. I do not hold IMX, but if I did, my approach would be to exit my holdings upon a weekly close below this level, regardless of whether I was in profit or loss. I would only re-enter if the price reclaimed the range or formed a clear trigger for a new buy position. 📊 Daily Timeframe IMX is currently sitting on a major support level, which has consistently pushed the price upward in previous attempts. However, this support is showing signs of weakening. If this level breaks, we will likely see a sharp drop towards 0.764. Given the importance of this level, it’s essential to monitor both bullish and bearish signals. If we see signs of weakness in the bearish trend, it could signal a buy trigger. However, these triggers require momentum—I will not buy just because the price is sitting on a strong support level. Instead, I will wait for either a fake breakdown or a lower timeframe range breakout before considering a buy. One possible entry trigger could be the breakout of the trendline at 1.252. ⏳ 4-Hour Timeframe IMX is currently breaking below the 1.061 support, which is a key weekly level. Because this is a high-volatility zone, it’s important to use a logical stop-loss when entering positions to avoid being stopped out unnecessarily. 📉 Short Position Trigger the trigger is already active, so a short entry is possible. However, if the price lingers in oversold conditions for too long or takes too long to move downward, I recommend securing profits quickly—also keep in mind that it’s Saturday, so consider reducing your risk exposure. 📈 Long Position Trigger there is no clear trigger yet unless we see a fake breakdown or a sharp recovery back to 1.252, after which a long entry would be valid. If this scenario plays out, there’s no need to feel FOMO, as strong momentum entering the market will provide multiple trading opportunities. 📝 Final Thoughts Stay calm, trade wisely, and let's capture the market's best opportunities! This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
Short
by tradecitypro
8
LONG POSITION FOR LONG TERM HOLD - IMXUSDT.PIt seems IMX already completed its WAVE 4 via its Elliot Triple Correction Wave WXYXZ. I'm seeing that this is now attempting to form a mini wave 2 giving us a chance to enter long before it pumps again for long term hold until end of bull run. Confluence: - Elliot Wave 4 completed - Elliot Triple Correction Wave completed - Daily Market Structure Shift - Daily Sell Side Liquidity Sweep - Daily Order Block within OTE Level Entry: 1.2188 SL: 1.1036 TP: Previous ATH (TP only 80% of your holdings then let it run until we find the tip of wave 3 - will update here later on)
Long
by cbcayabyab20
IMX Bullish Wave Analysis, for investment!IMX is completing Wave 4 correction around $1.00, preparing for Wave 5 upside. The breakout from the wedge pattern confirms bullish momentum. 📈 Target Levels (Fibonacci Extensions): $4.48 (1.27 Fib) $7.60 (2.27 Fib) $13.90 (4.272 Fib) 🔍 Key Levels to Watch: Support: $1.00 (Wave 4 bottom) Breakout Confirmation: $1.60 - $2.00 If market conditions remain strong, IMX could see massive upside in the next bull run! 🚀 #IMX #Crypto #ElliottWave #BullRun #Altcoins
Long
by MoCrypto83
1
Will #IMX Bulls Get Enough Momentum For a Bullish Reversal?Yello, Paradisers! Is #IMXUSDT ready to make a decisive move, or are we in for more consolidation? Let’s dive into the key levels of #Immutable: 💎#IMX has been trading within a descending channel on the 4-hour timeframe, creating a classic pattern of lower highs and lower lows. #IMXUSD got rejected from the descending resistance at $1.52 and is going to lower levels for liquidity capture. 💎For a bullish breakout, #IMX needs to push above the descending resistance near $1.524. A confirmed close above this level would pave the way for a potential rally toward the $2.000–$2.200 major resistance zone, where sellers are likely to step in. This scenario hinges on strong bullish momentum and volume so you can watch these for confirmation. 💎If #Immutable cannot get enough momentum to breach above the descending resistance then the probability is high that it will go lower for support. The support zone between $1.072 and $0.906 is crucial. This level has held firm during recent declines, providing a solid base for price action. The bulls have previously stepped here on these levels and defended them. 💎However, if #IMXUSDT breaks below $0.906 and closes a candle below this strong support, the bullish outlook will be invalidated. In this case, #IMX could retest lower levels, with the next key zone around $0.800 or lower, signaling a significant shift in market sentiment. Stay focused, patient, and disciplined, Paradisers🥂 MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
IMX in short term!BINANCE:IMXUSDT It's ranging in a Broadening wedge pattern so the price should stay in it for now! It might retest the bottom of it before ascending further! ⚠️ Disclaimer: This is not financial advice. Always manage your risks and trade responsibly. 👉 Follow me for daily updates, 💬 Comment and like to share your thoughts, 📌 And check the link in my bio for even more resources! Let’s navigate the markets together—join the journey today! 💹✨
Long
by CRYPTONIC_trend
Is GameFi Making a Comeback with Immutable X (IMX)?The blockchain gaming sector is experiencing a significant resurgence, with Immutable X (IMX) at the forefront of this revival. On December 19, 2024, at 11:00 AM UTC, "Oxya Origin," a game developed by Ubisoft’s French incubator studio, is set to launch on Immutable's platform. This collaboration underscores the renewed interest in GameFi, blending gaming with decentralized finance (DeFi) elements through Non-Fungible Tokens (NFTs). Market Analysis and Technical Insights As of December 18, 2024, IMX is trading at $1.69 with a 24-hour trading volume of $98,397,272 USD, down by 6.29% in the last day. Despite this dip, IMX holds a substantial market cap of $2.86 billion, ranking it at #53 on CoinMarketCap with a circulating supply of 1.69 billion tokens out of a max supply of 2 billion. This market cap reflects a robust growth trajectory since its inception, reaching an all-time high of $9.50, which signifies strong investor confidence and potential for future growth. The recent price action of CRYPTOCAP_OLD:IMX suggests a possible bullish trend. The token has immediate support at the 65% Fibonacci retracement level, offering a potential bounce back point for those looking to trade. The Relative Strength Index (RSI) currently sits at 38, indicating there’s room for the token to rally before being considered overbought. With the upcoming launch of Oxya Origin, analysts predict a surge towards the $2 resistance, a pivotal level before any significant correction or further breakout. Immutable X's Technological Edge Immutable X is not just another blockchain; it's a layer-two scaling solution specifically designed for NFTs on Ethereum. It tackles the blockchain's notorious issues like scalability, user experience, liquidity, and developer speed. By employing zero-knowledge rollups (zk-rollups), Immutable X promises zero gas fees for NFT minting and trading, alongside instant transaction confirmations and a transaction speed of over 9,000 per second. This scalability is crucial for mainstream adoption in gaming where speed and cost-efficiency are key. Unique Positioning: Immutable X's focus on NFTs using zk-rollups positions it uniquely in the market. It's seen as a potential "NFT blockchain" due to its specialized approach to scaling solutions. The API abstraction layer simplifies interactions for developers, making integration into games and platforms straightforward. This ease of use is expected to attract more established companies in the gaming and content creation sectors, further fueling the ecosystem's growth. Additionally, features like the "Link" allow for seamless wallet connectivity, enhancing user experience without compromising security. Ecosystem Growth: The launch of Oxya Origin, which has already seen $7 million in NFT sales and 13,000 ETH in secondary market volume, indicates strong community and investor backing. Immutable's ecosystem has grown impressively, with over 4 million signups for its Passport service and more than 460 games signed on, showcasing its appeal and scalability in the gaming industry. Conclusion Immutable X ( CRYPTOCAP_OLD:IMX ) stands at a pivotal moment in the blockchain gaming space. With its technological innovations, strategic partnerships like the one with Ubisoft, and robust market performance, CRYPTOCAP_OLD:IMX is not just making a comeback for GameFi; it's setting the stage for a new era of blockchain-integrated gaming. The technical analysis suggests immediate opportunities for traders, while the fundamental strengths of the platform indicate long-term growth potential. As we watch Oxya Origin launch, the market's response could very well dictate the next significant move for IMX, potentially pushing it past the $2 resistance level into new highs.
Long
by DEXWireNews
IMX looks bullish (2D)IMX appears to be within a large diametric pattern and is currently in the middle of Wave D. If it maintains the green zone, it could continue its upward movement for a long time to complete Wave E. The long-term and mid-term targets are between $5.5 to $7.0. A daily candle closing below the invalidation level would invalidate this analysis. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
by behdark
1