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Immutable (IMX) Surges 41% as Crypto Market Rebound Drives Bullish Sentiment

Coin WorldWednesday, Apr 23, 2025 6:22 am ET
1min read

Immutable (IMX) has emerged as the market’s top gainer over the past 24 hours, rallying more than 40% as bullish sentiment strengthens across the crypto market. The surge comes as Bitcoin (BTC) reclaims the key psychological level of $90,000, fueling a broader market rebound that has lifted several altcoins.

IMX currently trades at a 27-day high of $0.65, noting a 41% price hike over the past day. During the same period, its trading volume recorded a surge of 761%, confirming the uptick in IMX’s trading activity. When an asset’s price and trading volume rise simultaneously, it signals strong market interest and increased buying pressure. The combination confirms the strength of IMX’s bullish trend, as more traders are entering positions at higher prices. This indicates the potential for continued upward momentum.

On the daily chart, imx trades above its 20-day exponential moving average (EMA), highlighting the bullish bias among its spot market participants. This key moving average measures an asset’s average trading price over the past 20 trading days, giving more weight to recent prices. When an asset’s price climbs above this level, it suggests a shift toward short-term bullish momentum. This crossover confirms that IMX buyers are gaining control, and the asset is entering an uptrend.

Further, readings from the token’s Moving Average Convergence Divergence (MACD) support this bullish outlook. At press time, the MACD line (blue) rests above the signal (yellow) and zero lines. An asset’s MACD indicator identifies trends and momentum in its price movement. It helps traders spot potential buy or sell signals through crossovers between the MACD and signal lines. When the MACD line rests above the signal line, buying activity dominates the market. For IMX, this setup reinforces the recent price surge and suggests that upward pressure may continue as traders build confidence in the asset’s short-term trajectory.

IMX’s Balance of Power (BoP) currently rests above zero at 0.54, signaling that buyers control the market. A BoP reading above zero reflects strong accumulation, indicating demand outweighs selling pressure. This reading supports the broader bullish outlook for IMX, suggesting that the recent price rally is backed by sustained investor interest. In this case, IMX could extend its rally to $0.79. However, if traders begin profit-taking, IMX could reverse its current uptrend and fall to $0.34.

Ask Aime: What is driving the surge in Immutable's (IMX) price and trading volume?

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Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.
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