- ImmutableX gains momentum with a 12% daily surge, poised to test key $0.70 resistance.
- Technical indicators show bullish signals as IMX holds above $0.60 breakout support.
- Strong crypto market backdrop fuels IMX rally, targeting $0.85–$0.90 if resistance breaks.
ImmutableX (IMX) is poised to extend its gains into May 3 as bullish sentiment sweeps across the broader crypto market. The asset has risen sharply following a solid April close and strong Q1 earnings from major crypto firms.
With Bitcoin hovering around $97,000 and altcoins rallying, IMX has emerged as one of the standout performers among the top 200 cryptocurrencies. Investor confidence is growing, and technical indicators support a continued push higher in the near term.
Rising Momentum in a Recovering Market
Crypto markets have bounced back strongly, driven by favorable earnings reports and renewed retail interest. Notably, Tether’s $1 billion profit and Kraken’s 19% revenue growth added fuel to the rally.
According to CryptoRank data, the total crypto market cap has surged to $3.14 trillion, accompanied by a “Greed” rating of 67 on the Fear & Greed Index. IMX has taken full advantage of this environment, jumping over 12% in the past 24 hours alone. Its price at press time stands at $0.6441, marking a nearly 8% increase over the past week.
Technical Outlook: Bullish Signals Strengthen
The technical structure for IMX is improving. After bottoming near the $0.50 mark, the token has established a solid base. It recently broke out above the $0.60 resistance, a key level that could now act as support.
IMX/USD daily price chart, Source: TradingView
The Moving Average Convergence Divergence (MACD) shows bullish crossover strength. Both the MACD and Signal lines sit well above zero, and the growing histogram supports ongoing upward momentum. The Relative Strength Index (RSI) stands at 65.08—bullish, though not yet overbought, suggesting room for more gains.
Key Levels to Watch
Immediate support lies between $0.58 and $0.60, the breakout zone that has now flipped roles. A stronger safety net remains around $0.50, the base from which IMX began its current climb.
On the upside, resistance levels between $0.68 and $0.70 could soon be tested. If broken, the path to $0.85–$0.90 opens up, followed by the crucial psychological mark of $1.00.
Outlook for May 3
Given current momentum, IMX appears poised to test the $0.70 resistance level by May 3. If broader market conditions stay favorable and daily volumes remain high, the token could push beyond near-term resistance and aim for higher consolidation zones.
