Immutable (IMXUSDT) Market Overview: Strong Bullish Momentum on 24-Hour Chart

Immutable (IMXUSDT) opened at $0.551 on 2025-07-17 at 12:00 ET, reaching a high of $0.620 and a low of $0.533 before closing at $0.616 on 2025-07-18 at 12:00 ET. Total volume was 6.38 million IMX, and notional turnover was $3.76 million over the 24-hour window.

• Immutable surged from $0.533 to $0.620, forming a strong bullish trend with a key breakout above $0.58.
• RSI climbed into overbought territory near 75, suggesting potential exhaustion or consolidation ahead.
• Bollinger Bands widened as volatility spiked, with price remaining above the 20-period moving average.
• Volume increased dramatically during the late-night to early morning hours, confirming the bullish momentum.
• A bullish engulfing pattern emerged at $0.595, reinforcing a potential continuation of the upward trend.

Structure & Formations

The 24-hour chart shows a clear bullish trend from a low of $0.533 to a high of $0.620. Key support levels were identified at $0.550 and $0.535, with resistance forming at $0.580 and $0.600. A bullish engulfing pattern at $0.595 confirmed the resumption of the upward trend, while a doji near $0.556 suggested a brief pause in momentum. A potential 61.8% Fibonacci retracement level from the $0.533 to $0.620 move is at $0.576, which could act as a short-term support.

Moving Averages

On the 15-minute chart, price closed above both the 20-period and 50-period moving averages, indicating continued bullish momentum. For the daily chart, the 50-period MA is at $0.565 and the 200-period MA at $0.542, with price firmly above both, suggesting a strong uptrend in place. The 100-period MA is at $0.558, also supporting the bullish bias.

MACD & RSI

The MACD crossed above the signal line during the early morning hours, confirming the bullish breakout. The histogram showed increasing positive momentum, especially between 03:00 and 05:00 ET. RSI reached overbought levels near 75, indicating potential for a pullback or consolidation. However, the strong volume and price action suggest the trend could continue for now.

Bollinger Bands

Volatility expanded significantly during the late-night to early-morning hours, with Bollinger Bands widening as price surged above the upper band. Price remained above the 20-period moving average throughout the session, suggesting strong buying pressure. The widening bands indicate a high level of uncertainty and potential for further movement in either direction.

Volume & Turnover

Volume spiked sharply during the 04:00 to 05:30 ET window, coinciding with the move from $0.595 to $0.616. The total volume of 6.38 million IMX and notional turnover of $3.76 million confirm strong participation. No significant price-turnover divergence was observed, indicating that the bullish move is supported by strong buying interest.

Fibonacci Retracements

Applying Fibonacci to the $0.533 to $0.620 move, key retracement levels are at 38.2% ($0.566), 50.0% ($0.576), and 61.8% ($0.586). Price tested the 38.2% and 50.0% levels and broke above the 61.8% level with strong volume, indicating a potential target at or above $0.600 in the near term.

Immutable may continue to consolidate or extend the bullish trend in the next 24 hours, but investors should remain cautious as RSI is overbought and a pullback to the 50.0% Fibonacci level at $0.576 could test the strength of the move. As always, volatility in crypto markets remains high, and sudden reversals are possible.