IMXUSDT Breaks Key Support But Rallies on Surging Late-Session Volume

Summary
• Price drifted lower into the early New York session before rallying on strong late-volume.
• Key support at 0.1621 held, with a bearish engulfing pattern forming near 0.1647–0.1624.
• Volatility expanded post 16:15 ET, coinciding with a 2.2x surge in notional turnover.
• RSI remains neutral, but MACD divergence hints at waning bullish momentum.
• 0.1672 resistance and 0.1591–0.1592 consolidation zone are critical for near-term direction.

Immutable/Tether (IMXUSDT) opened at 0.1647 on 2026-02-06 12:00 ET, reaching a high of 0.1699 before falling to a low of 0.1577 and closing at 0.1596 on 2026-02-07 12:00 ET. Total 24-hour volume was 4,227,923.14 and turnover was 653,581.37.

Structure & Formations

The price formed a bearish engulfing pattern during the early New York session, with a 5-minute candle opening at 0.1647 and closing at 0.1624 on heavy volume. This suggests a potential short-term reversal. Key support is at 0.1621–0.1623, a consolidation zone from earlier in the week. Resistance levels to watch include 0.1636, 0.1651, and the 0.1672 high.

Moving Averages

On the 5-minute chart, the 20-EMA rose above the 50-EMA mid-session, reflecting short-term bullish momentum, but this was reversed after 16:15 ET. On the daily timeframe, the 50-EMA remains below the 200-EMA, maintaining a bearish bias.

MACD & RSI

The MACD crossed into negative territory around 16:15 ET, aligning with the price decline. RSI remained in neutral territory around 50, but failed to show a strong bullish bias despite the late rally. A divergence between price and RSI during the 16:15 ET upswing suggests caution for further bullish bets.

Bollinger Bands

Volatility expanded sharply following the 16:15 ET surge, pushing price outside the upper Bollinger Band temporarily. The lower band is now at 0.1577–0.1581, which was tested earlier in the week.

Volume & Turnover

Volume spiked significantly after 16:15 ET, reaching 1,827,625.21 on the highest 5-minute candle of the day. Notional turnover surged in line with the price increase, indicating strong conviction in the move. However, divergence between the rally and turnover occurred in the 10:15–11:30 ET window, suggesting mixed participation.

Fibonacci Retracements

Key Fibonacci levels for the recent 5-minute rally from 0.1577 to 0.1659 include 61.8% at 0.1623 and 38.2% at 0.1596. The price appears to have stalled near the 38.2% level, potentially setting up for a pullback or consolidation.

The market appears to be consolidating between 0.1591 and 0.1643, suggesting potential for a breakout in either direction. A retest of 0.1577 could validate bearish sentiment, while a close above 0.1647 would signal renewed bullish momentum. Investors should closely monitor volume and RSI for confirmation.