Market Overview: Immutable/Bitcoin (IMXBTC) – 24-Hour Analysis as of 2025-09-25

• Price closed lower at 6.46e-06, down from 6.53e-06, with bearish momentum visible in the 24-hour candle.
• RSI reached oversold territory at 28, suggesting potential near-term rebound, though volume remains subdued.
• A key support at 6.43e-06 was tested twice, with a failed rebound indicating possible breakdown below this level.
• Volatility expanded during the early hours, as seen in the 6.47e-06 to 6.87e-06 intraday swing, but failed to sustain gains.
• The 15-minute chart shows a bullish engulfing pattern near 6.44e-06, but lacks follow-through volume for confirmation.

The Immutable/Bitcoin pair (IMXBTC) opened at 6.53e-06 at 12:00 ET–1 on 2025-09-24 and closed at 6.46e-06 at 12:00 ET on 2025-09-25. The price reached a high of 6.87e-06 and a low of 6.34e-06. Over the 24-hour period, the total volume traded was 287,352.47 IMX, with notional turnover of approximately $1,899.48 at average Bitcoin prices.

The price action shows a bearish bias as it failed to reclaim key resistance levels above 6.5e-06, with a breakdown below 6.46e-06 suggesting further downward pressure. The 20-period and 50-period moving averages on the 15-minute chart have both crossed below the price, confirming the short-term downtrend. On the daily chart, the 50/100/200-day lines are also bearish, with price trading well below the 200-day average.

MACD is in negative territory, with the histogram shrinking slightly from a low of -0.00000000012 at 22:30 ET to -0.00000000009 at 12:00 ET. RSI dipped below 30 into oversold territory, but without a strong rebound in volume or price, a reversal is uncertain. Volatility expanded significantly in the early morning hours, with a 6.47e-06 to 6.87e-06 swing, but has since contracted as price consolidates around 6.46e-06.

Bollinger Bands show price sitting near the lower band, with a width of approximately 0.00000000012, signaling reduced volatility. Fibonacci retracement levels from the key 6.34e-06 to 6.87e-06 swing highlight 61.8% at 6.56e-06 and 38.2% at 6.62e-06 as potential resistance levels. For the near term, a break below 6.43e-06 could target 6.37e-06, while a recovery above 6.48e-06 may indicate a temporary pause in the downtrend.

The backtesting strategy relies on a combination of RSI divergence and candlestick confirmation. A sell signal is generated when RSI creates a bearish divergence (higher highs, lower RSI highs) and a bearish engulfing pattern forms on the 15-minute chart. A stop-loss is placed above the recent swing high, with a target of 6.37e-06. During the 24-hour period, a potential sell signal was visible at 05:45 ET when RSI bottomed at 31 while price made a higher high of 6.54e-06. A bearish engulfing pattern confirmed the signal, but volume was weak, suggesting limited conviction.