Market Overview: IMXBTC Continues Decline Amid High Volume and Weak Momentum

Summary
• Price declined from 3.12e-06 to 2.89e-06 amid heavy volume and bearish momentum.
• Bollinger Bands show volatility expansion, with price near the lower band.
• RSI indicates oversold conditions, suggesting potential near-term bounce.
• Volume peaks during late-night to morning hours, confirming downward pressure.
• A bearish engulfing pattern formed around 01:45 ET, signaling continued risk to the downside.

Immutable/Bitcoin (IMXBTC) opened at 3.12e-06 on 2026-01-04 12:00 ET, fell to a low of 2.88e-06, and closed at 2.89e-06 by 12:00 ET on 2026-01-05. Total volume reached 249,023.64, while turnover amounted to 0.739 BTC.

Price action showed a clear breakdown below key support levels, with bearish momentum confirmed by RSI nearing oversold territory and MACD diverging below the signal line. A bearish engulfing pattern at 01:45 ET marked a key moment in the trend, while volume spiked during overnight hours, particularly around 04:45 ET when 21,332.25 units traded. Bollinger Bands reflect widening volatility, with price now hovering near the lower band, indicating potential for a short-term rebound.

Looking ahead, a pullback toward 2.95e-06 could find support, but the risk of further downside remains if buyers fail to step in above 2.92e-06. Investors should remain cautious for any bearish continuation signals over the next 24 hours.