IMX Price Analysis: Breakout or Resistance?
IMX Price Analysis: Breakout or Resistance?
Immutable X (IMX) has demonstrated positive momentum recently, pushing its price to a critical juncture. Currently trading around $0.72, IMX is attempting to overcome a persistent resistance level. However, a significant hurdle remains: approximately 117 million IMX tokens, valued at over $84 million, are currently held at a loss, potentially creating significant selling pressure near the $0.81 - $0.84 range.
Awaiting Profitability
This substantial supply zone has acted as a resistance level for the past three months, hindering IMX's upward trajectory. Many holders are likely to sell as the price approaches this zone, creating downward pressure. Unless strong support from long-term holders and new buyers emerges, this selling could prevent a sustained rally.
IMX IOMAP. Source: IntoTheBlock
Positive Market Indicators
Despite this resistance, some positive indicators are emerging. The Chaikin Money Flow (CMF) recently broke above zero for the first time in 2025, suggesting strong capital inflows. This could support the rally and help IMX push past its current resistance.
IMX CMF. Source: TradingView
Potential Scenarios
IMX has gained 37% in the past week. Maintaining the $0.72 support level is crucial. A successful break above the $0.81 resistance could initiate a new upward trend. However, failure to overcome this resistance could lead to price consolidation below $0.81, or even a drop to $0.60 if the $0.72 support fails.
Conversely, a sustained bullish sentiment and continued market support could propel IMX past the $0.81 resistance. Breaking above $0.88 would make the 117 million IMX tokens profitable, potentially fueling further growth.
IMX Price Analysis. Source: TradingView
Disclaimer
This analysis is for informational purposes only and should not be considered financial or investment advice. Market conditions are subject to change. Conduct your own research and consult a professional before making any financial decisions.