IMXUSDT Chart Update in 3-Day Timeframe.

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Hello everyone, I’m Cryptorphic.
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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.

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