IMXUSDT Chart Update in 3-Day Timeframe.

Hello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

IMX has been in a downtrend for over three months, with the price dropping almost 63% from $3.76 to $1.38.

Currently, the price is holding support at $1.44, and a rebound will likely push the price toward the $1.8 to $2 resistance (50EMA).

The downtrend in IMX is likely to continue for one specific reason: the upcoming token unlock.

In 10 days, IMX will unlock 32.47 million tokens, which is 1.62% of the maximum supply. There's a high chance that selling pressure will increase once the tokens are unlocked, which will eventually drop the price.

Key Observations:

~ Primary Support: $1.44.
~ Lower Support/Entry: $0.68.
~ Primary Resistance: $1.8 to $2.
~ Higher Resistance/Target: $3.4 to $4.5.

DYOR.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#PEACE #Altcoins