Investment Of $100 In Immutable (IMX) To Turn $1000 By Bitcoin Halving ?

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The Immutable token has gained significant attention from the crypto market over the past few days due to its increased price volatility. The IMX price has added over 3% within the past day but has added over 78% over the past 30 days, making it a potential pick for the upcoming bull run.

The Immutable price traded in a closed range between $1.8925 and $2.0916 for a while, following which the bulls gained momentum and the price broke out of the range. After recording a jump of 17.5%, the IMX price displayed a neutral trend for the next seven days.

As the market volatility grew, the bulls regained momentum and jumped over 18%, following which the token traded sideways for the next few days. The IMX token continued to gain significant attention from the market, resulting in it adding 22% over the next three days.

After facing rejection at $3.2319, the Immutable token displayed a neutral trend for a while. Following multiple attempts, they successfully broke out of the resistance level and recorded a jump of over 15.50%.

The token then traded sideways for a while, after which the bulls lost momentum and broke down the support level. Since then, the price has been trading in a consolidated range between $3.0006 and $3.5374.

The MACD displays a constant rise in the green histogram, indicating increased buying-over-selling pressure within the market. Moreover, the averages show a steady rise, suggesting the price will continue gaining value in the coming time.

If the bulls regain momentum, the IMX price will test its resistance level of $3.5374 soon. Further, if the bulls maintain the price at that level, it will prepare to test its upper resistance level of $4 during the upcoming weeks.

Conversely, if a trend reversal occurs, the bulls will lose momentum and fall to test its support level of $3.0006. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $2.6547 in the coming time.