Immutable X is Trading 15.34% Above Our Price Prediction for Feb 28, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Immutable X is up 4.64% today against the US Dollar
• IMX/BTC increased by 4.03% today
• IMX/ETH increased by 4.29% today
• Immutable X is currently trading 15.34% above our prediction on Feb 28, 2023
• Immutable X gained 43.17% in the last month and is down -38.48% since 1 year ago

IMX price is expected to drop by -13.30% in the next 5 days according to our Immutable X price prediction

Immutable X price today is trading at $ 1.02 after gaining 4.64% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 4.58% in the same time period. IMX performed well against BTC today and recorded a 4.03% gain against the world’s largest cryptocurrency.

According to our Immutable X price prediction, IMX is expected to reach a price of $ 0.881995 by Feb 28, 2023. This would represent a -13.30% price decrease for IMX in the next 5 days.

IMX Price Prediction Chart

Buy/Sell Immutable X

What has been going on with Immutable X in the last 30 days

Immutable X has been displaying a positive trend recently, as the coin gained 43.17% in the last 30-days. The medium-term trend for Immutable X has been bullish, with IMX increasing by 137.50% in the last 3 months. The long-term picture for Immutable X has been negative, as IMX is currently displaying a -38.48% 1-year price change. On this day last year, IMX was trading at $ 1.65.

Immutable X reached its all-time high price on Nov 05, 2021, when the price of IMX peaked at $ 14.02. The current IMX cycle high is $ 1.27, while the cycle low is at $ 0.377004. IMX has been displaying high volatility recently – the 1-month volatility of the coin is at 18.31. Immutable X recorded 14 green days in the last 30 days.

Immutable X technical analysis for today - Feb 23, 2023

The sentiment in the Immutable X markets is currently Bearish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 0.950803, $ 0.882919 and $ 0.833977, while $ 1.07, $ 1.12 and $ 1.18 are the key resistance levels.

Bearish sentiment for Immutable X

13 indicators are currently signaling a bullish prediction for Immutable X, while 14 indicators are showing a bearish forecast. With 52% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Immutable X.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 56 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Immutable X moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Immutable X is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Immutable X is at 55.06, suggesting that IMX is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Immutable X over the last 50 days. Currently, Immutable X is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the IMX closing price for the last 200 days. IMX is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Immutable X prediction

After considering the above factors, we can conclude that the current forecast for Immutable X price prediction is Bearish. IMX would have to decrease by -13.30% to hit our $ 0.881995 target within the next five days. Moving forward, it will be important to monitor the IMX market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Immutable X price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

by coincodex