Why ZRO and IMX Will Lead the Next Rally | Credit: Derek Fenech
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Key Takeaways
ZRO is breaking out from a symmetrical triangle pattern.
Immutable (IMX) emerged from a descending resistance trend line.
Will these two altcoins be at the forefront of the crypto recovery?
The crypto market fell at the start of the week, but the ensuing bounce bodes well for the possibility of new highs before the end of the year.
Specifically, some altcoins like ZRO and IMX have already erased all their losses and could be gearing up to lead the crypto market once the trend stabilizes.
This article will examine the price movement for both and determine whether they will reach new highs this year.
ZRO Price Analysis
The daily time frame shows that ZRO has traded inside a horizontal range between $1.60 and $3.30 since the start of February.
ZRO was rejected by the range high in May and has not reached it again since; instead, it is trading close to the range low.
However, this could all change soon. The ZRO price has traded inside a symmetrical triangle for the past two months and is breaking out today.
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If it does, a movement toward the middle of the range and then range high will be likely.
The wave count aligns with this possibility. According to the count, ZRO is in wave C of an A-B-C correction (red), confirmed with a breakout from the triangle.
The symmetrical triangle contained wave B, and the breakout means wave C is underway.
Momentum indicators also support this possibility. The Relative Strength Index (RSI) is above 50 while the Moving Average Convergence/Divergence (MACD) is positive.
The two primary targets for the rally’s top are $2.80 and $3.40, respectively, created by giving wave C the same length and 1.61 times the length of wave A.
IMX Price Analysis
Like ZRO, the IMX price also breaks out from a key resistance, but it is horizontal instead of diagonal.
The IMX rally began in June, leading to a breakout from a descending resistance trend line.
Last week, IMX finally moved above the $0.75 horizontal resistance area, which is validated as support today (green icon).
If successful, the IMX price could surge to the next resistance at $1.20, a level not reached since 2024.
Like ZRO, IMX’s momentum indicators are bullish. The RSI and MACD generated bullish divergence (orange) before the rally, and are now in bullish territory.
So, the IMX prediction remains bullish as long as the price does not close below the $0.75 horizontal area.
Final Thoughts
ZRO and IMX are showing strong bullish signs, which could take them to the forefront of a broader crypto market recovery.
Both altcoins have broken above key resistance levels, and momentum indicators firmly support continued upside.
If these trends hold, they may be among the first altcoins to push toward new highs before the end of the year.
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.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
