Bullish signals align for IMX as volume and adoption rise | Credit: Veronica Cestari
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Key Takeaways
IMX rallied 38% to break above the $0.72 resistance, with surging trading volume.
Non-zero holder addresses have increased, signaling strong market participation and adoption.
IMX could target $1.52, while failure to maintain support above $0.62 risks a retracement.
Immutable (IMX) price has burst into the spotlight with an explosive 38% rally. This breakout has positioned IMX as one of the top-performing altcoins today, and traders are now eyeing the potential for fresh 2025 highs if momentum holds.
IMX surged above the $0.72 resistance zone, which had capped gains for weeks. The breakout was accompanied by a surge in trading volume, confirming strong participation from both retail and institutional buyers.
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As seen on the 4-hour chart, the IMX price reached this high after breaking above the upper trendline of a symmetrical triangle. Other indicators, like the Chaikin Money Flow (CMF), support this.
At press time, the CMF has risen to 0.12, indicating rising buying pressure. The Relative Strength Index (RSI) has entered overbought territory, but this suggests strong trend strength in the current context instead of signaling weakness.
Should this trend remain the same, IMX price will likely breach the resistance at $0.85.
Beyond the technical setup, several on-chain factors are helping fuel IMX’s price. According to Glassnode data, the number of non-zero addresses holding IMX has steadily increased.
This rise signals that more investors are accumulating the token, expanding the holder base, and strengthening long-term demand.
A growing number of unique holders reflects broader adoption and network confidence, which can provide a solid foundation for sustained price appreciation.
This metric might continue to rise, meaning that the IMX price would also continue to increase.
IMX Number of Addresses with a Non-Zero Balance | Credit: Glassnode
IMX Price Analysis: What To Watch
From a technical perspective, IMX has broken above the upper trendline of a descending channel, signaling a potential trend reversal. If the token can sustain momentum above $0.80, the next upside targets are $0.93 and $1.07.
Adding to the bullish setup, the green line of the Supertrend indicator has flipped below the price, confirming a buy signal.
At the same time, the Moving Average Convergence Divergence (MACD) has formed a bullish crossover, reinforcing the case for continued upward momentum.
A successful rally beyond $.107 would allow IMX’s price to challenge its long-term resistance near $1.27. Once successful, the altcoin might experience a rally toward a new yearly high of $1.52.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
