Market Overview for Immutable/Bitcoin (IMXBTC)

Summary
• Price formed a bearish engulfing pattern near 2.68e-06 before plunging to 2.61e-06.
• Volume spiked sharply in the last 2 hours, confirming bearish momentum.
• RSI entered oversold territory, suggesting potential for short-term rebound.
• Price fell below key 20-period MA, signaling short-term bearish bias.
• Volatility expanded as Bollinger Bands widened during the selloff.

Immutable/Bitcoin (IMXBTC) opened at 2.68e-06 on 2025-12-25 at 12:00 ET, hit a high of 2.7e-06, and closed at 2.61e-06 by 12:00 ET on 2025-12-26. The 24-hour volume totaled 13,645.23, with a notional turnover of 0.03632297 BTC.

Price action on the 5-minute chart showed a sharp bearish reversal with a confirmed bearish engulfing pattern at 2.68e-06. The subsequent decline was supported by a surge in volume during the last 2 hours, especially between 23:45 and 00:00 ET. The 20-period moving average was breached to the downside, suggesting short-term bearish pressure.

MACD showed a bearish crossover, while RSI hit oversold levels near 25, indicating potential for a rebound. Volatility increased as the Bollinger Bands widened during the selloff, with price closing near the lower band. A key support level appears to be forming around 2.61e-06.

Fibonacci retracements of the 2.61e-06 to 2.7e-06 swing suggest potential resistance at 2.67e-06 (38.2%) and 2.69e-06 (61.8%). A test of this level in the next 24 hours may reveal whether the selloff is a short-term pullback or part of a larger downtrend. Investors should remain cautious of thin liquidity zones and possible follow-through selling.