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IMX Price Prediction Feb 26: Can Immutable’s Upcoming Game Announcement Drive a Rebound?

Jonathan Carls by Jonathan Carls
February 25, 2025
in Binance Feed, Market
Reading Time: 4 mins read
IMX price prediction feb 26 Can Immutable's Upcoming Game Announcement Drive a Rebound
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  • IMX struggles to break resistance at $0.68-$0.69 amid strong selling pressure.
  • Oversold RSI at 26.71 suggests a potential rebound if buyers regain control.
  • Derivatives volume surges, but falling open interest signals cautious sentiment.

On 26th February, Immutable will unveil its third multi-billion-dollar-backed game, a major milestone for the platform. This announcement comes at a time when the Immutable (IMX) price is experiencing significant volatility. 

As of press time,  trading at $0.6339, the token has dropped 8.00% over the past 24 hours. Despite the downturn, trading volume has surged by 37.81% to $59.59 million, indicating increased market activity. Investors are watching key support and resistance levels to gauge the next move for IMX.

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Tomorrow we announce the third multi billion dollar backed game building on @Immutable.

— Robbie Ferguson 🅧 | Immutable (@0xferg) February 25, 2025

IMX Price Performance and Key Levels

IMX opened at a high of $0.6876 before reversing course, reflecting selling pressure. The price trend remains bearish, with multiple failed attempts to sustain gains above $0.68. 

The immediate resistance zone between $0.68 and $0.69 has proven to be a strong barrier. If the price manages to break past this level, the next key resistance lies at $0.70, a critical breakout zone that could push the token toward $0.75 to $0.78.

Source: CoinMarketCap

On the downside, immediate support is found between $0.62 and $0.63. This level has acted as a price floor multiple times, making it crucial for maintaining stability. If selling pressure intensifies, the major support level at $0.60 will be closely monitored. A breakdown below this psychological threshold could accelerate losses.

Technical Indicators and Market Sentiment

IMX/USD daily price chart, Source: Trading view

Technical indicators suggest that IMX is currently oversold. The Relative Strength Index (RSI) stands at 26.71, well below the 30-mark, indicating strong selling pressure. However, oversold conditions often lead to a potential rebound if buyers step in. 

The Moving Average Convergence Divergence (MACD) indicator remains bearish, with the MACD line at -0.12 and no imminent bullish crossover. This suggests the current downtrend could persist unless buying momentum increases.

Derivatives Data and Market Outlook

As per Coinglass data, IMX derivatives trading data reveals a mixed sentiment. Trading volume in the derivatives market has climbed by 42.22%, reaching $75.35 million. However, open interest has declined by 12.45% to $19.21 million, indicating that some traders are closing positions rather than entering new ones.

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