IMXUSDT Bounces From 0.1600 Support With Bullish Reversal Signal

Summary
• Price tested key support levels around 0.1600–0.1605, bouncing with increased volume.
• A bullish reversal pattern formed near 0.1602–0.1608 around 16:45–17:00 ET, suggesting short-term momentum shift.
• RSI entered oversold territory below 30 during the 04:00–05:00 ET window, hinting at potential rebound.
• Volatility expanded as the price moved 0.87% within the 24-hour window, with the largest range between 0.1698 and 0.1601.
• Bollinger Bands showed a narrow contraction before a breakout during the 02:45–03:00 ET timeframe.

Immutable/Tether (IMXUSDT) opened at 0.1681 on 2026-02-21 at 12:00 ET, reached a high of 0.1701, and a low of 0.1601, closing at 0.1607 on 2026-02-22 at 12:00 ET. Total volume was 1,302,983.74 and turnover reached 216,100.52.

Structure & Formations

Price action revealed key support zones at 0.1600–0.1605 and resistance at 0.1630–0.1635. A bearish engulfing pattern formed at 0.1691–0.1686 during the 20:15–20:30 ET timeframe, followed by a potential bullish reversal at 0.1602–0.1607 between 16:45–17:00 ET. A doji-like formation appeared around 04:15 ET near 0.1632–0.1635, signaling indecision.

Moving Averages

On the 5-minute chart, the 20-period MA briefly crossed below the 50-period MA, indicating a short-term bearish bias, but the price reversed above both lines during the final hours. Daily MAs suggest a longer-term consolidation phase, with the 200-period MA providing a baseline at ~0.1625.

Momentum & Volatility

RSI dipped below 30 on 02:45–04:15 ET, indicating oversold conditions, followed by a moderate rebound. MACD crossed into positive territory during the 16:45–17:00 ET window, confirming the bullish reversal. Bollinger Bands narrowed during the 02:45–03:15 ET period before the price broke out of the channel, suggesting a potential continuation of the trend.

Volume and Turnover

Volume spiked to 106,148.44 at 06:30 ET and again at 10:00 ET, aligning with price rebounds. Notional turnover also increased during these periods, reinforcing the price action. Divergence between volume and price was noted during the 08:15–08:45 ET period, suggesting potential bearish pressure.

Fibonacci Retracements

Key retracement levels for the 0.1701–0.1601 move include 61.8% at ~0.1644 and 38.2% at ~0.1669. Price has shown hesitation near both levels, with 0.1644 acting as a psychological floor.

Immutable/Tether appears to be in a consolidation phase with short-term bullish momentum emerging from key support levels. A sustained break above 0.1630 could trigger a test of the 0.1650–0.1660 resistance cluster. Traders should remain cautious of potential pullbacks if volume fails to confirm further upward moves.