Issued on: 23rd Jun’23
Valid up to: 28th Jun’23
Token: IMX
Category: NFT
Market Cap: $753 Million
Circulating Supply: 1,040,385,513
Total Supply: 2,000,000,000
Price Update:
IMX price at the time of writing (23rd June, 16:00) is $0.7224, with a 24-hour Market cap increased by 0.35% to $753 Million. IMX price is down by 0.48% in the last 24 hours according to coinmarketcap.com
Source: TradingView
Analyzing the above chart:
- In the 4-hour time frame, IMX formed an Inverted Head & Shoulder pattern at the bottom and subsequently broke out from it, indicating a bullish outlook.
- In addition to this, there is also a bullish RSI divergence observed in the 1-Day timeframe. This, combined with the break of a descending trendline, further confirms a bullish indication for IMX.
- In the 4-hour time frame, IMX is currently trading above both 55 & 99 EMA. This suggests a positive momentum.
- A Long Trading strategy can be assessed between $0.709-$0.722 with invalidation below $0.685
- On the upside, one can see a rise of 10-15% toward $0.757 & $0.834
- It would seem that one should maintain a balanced risk-to-reward ratio and check the use of leverage and position size to ride out current market conditions.
Note: IMX is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade IMX in Futures Market at CoinDCX
Trade IMX in Futures Market at CoinDCX Pro
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The Content is for informational and educational purposes only. The Content is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or securities or virtual digital assets or to participate in any investment or trading strategy.The Content or any part of it is not legal, financial, investment or tax advice. The calculations, data, risk return formulations, performance or market capitalization indicators are based on the independent data sourced by CoinDCX or third parties. Past performance is not indicative of any future results.
