According to CoinMarketCap, Immutable (IMX) has had a rise in value over the last 24 hours. At the time of publication, the altcoin had a 24-hour gain of 6.61% and was trading at $0.8098. Additionally, the cryptocurrency had been able to establish a daily high at $0.8272 and had since reversed course.
Additionally, IMX was able to exceed the two market leaders, Bitcoin (BTC) and Ethereum (ETH), throughout the course of the previous 24 hours. By comparison to BTC and ETH, IMX was up 6.22% and 5.67%, respectively, at the time of publication. The altcoin’s value increased, but it also experienced a daily increase in trading volume of more than 100%, bringing the total to $35,325,857 at press time.
For the preceding two weeks, IMX’s value had been consolidating between $0.708 and $0.837. Bulls had to give the altcoin a much-needed push on Thursday after its value had fallen to the value channel’s lower stage. Following this injection of purchase volume, IMX’s value was forced to rise over the 9-day and 20-day EMA resistance levels on Friday.
Additionally, IMX’s value had tested the upper level of the aforementioned consolidation channel once more, but it was unable to close the day’s trading session above the key resistance level. Earlier in the trading session today, it had attempted to turn the extend into support once more but had experienced a pullback each time.
The daily RSI line had crossed above the daily RSI SMA line, therefore technical indicators on the IMX daily chart were still signalling bullishness. Additionally, the 9-day EMA line was attempting to cross above the 20-day EMA line and was about to set off a large bullish flag.