The immutable price (IMX) has recently been on a significant decrease trend, falling on multi -year stockings. The token has suffered a sharp drop and its price currently oscillates about $ 0.433.
If the current trend continues, it is possible that IMX can form a new lower of all time (ATL).
Immutable investors abandon
The offer of immutable exchanges has increased spectacular in the past two weeks. A total of 30 million IMX tokens were added, increasing the overall offer to 165 million IMX. This increase in supply is worth around $ 13 million and indicates a change in investors feeling.
While investors are starting to sell their assets, this suggests growing skepticism about the prospects for the future of the token. The trend has resulted in an increase in sales pressure, which still exacerbates the current drop in prices.
The immutable global macro momentum seems to be unfavorable at this stage. The active addresses, which measure the number of unique addresses engaging with the network, are at a low level. The absence of participation reflects the hesitation of investors and the reduction of confidence in the potential of the token.
When fewer addresses interact with the network, this generally indicates a lack of new capital entering the market. Consequently, this drop in activity contributed to the negative feeling surrounding IMX.
IMX Price needs a reversal
IMX Price is down almost 40% in the past two weeks, the sale of 30 million tokens playing an important role in the decline. At the time of writing the editorial staff, the price is $ 0.433, holding just above the critical support level of $ 0,400. If this support is broken, the price could fall more, potentially reaching $ 0.375 or less, which has led to a new hollow of all time.
The continuous draw suggests that the token may not see a recovery soon unless the market conditions improve. If IMX manages to maintain above $ 0.400, there is a strong chance that it can stabilize before testing other levels of resistance. However, permission of support of $ 0,400 would likely lead to more losses.
For a more optimistic scenario, IMX should recover the level of support of $ 0.508. This could open the way to a potential recovery, allowing the price to increase to $ 0.684.
A successful violation of these levels could invalidate the lowering perspectives and offer a little hope to reverse recent losses.
Non-liability clause
In accordance with the Trust project guidelines, this price analysis article is for information purposes only and should not be considered as financial or investment advice. Beincrypto is committed to exact and impartial reports, but market conditions are likely to change without notice. Always carry out your own research and consult a professional before making financial decisions. Please note that our terms and conditions, our privacy policy and our non-responsibility clauses have been updated.
