IMX eyes (IMX) 0.81 dollars after 52 % of the gatherings – but this obstacle waves on the horizon star-news.press/wp

Main meals

IMX increased by 52 % after breaking the resistance, amounting to $ 1.1 billion per market. Perpetuals paid gains, but selling a cow of approximately $ 0.632 may indicate a withdrawal before targeting $ 0.816 resistance.

IMX was on an upward path, with a high market value and price increased by 14 % to $ 1.1 billion and $ 0.62, respectively.

Permanent investors played a major role in leading the assembly during this period. However, the market morale indicates the potential opposite winds that can limit more upward trend.

Will IMX collect or reverse? Ambcrypto analysis explores both possibilities.

IMX potential resistance resistance

Over the past few weeks, IMX has gained 52 %, after the outbreak of a convergence resistance channel.

This type of penetration usually precedes a large gathering, which may push the price towards the climax of the canal at $ 0.816 – or even higher – if the bullish momentum.

But the way forward is not without obstacles. According to the Rrecking Fibonacci tool, IMX has been assigned to face great resistance in the future.

This tool helps in determining support and resistance levels based on the work of the historical price. For IMX, major resistance areas emerge.

Source: TradingView

The first lies at $ 0.632, higher than the current price. This level is very important – historical data shows that it works as support before a decrease of 19 % between 29 and 30 May.

The second resistance level is $ 0.713. The previous IMX attempt to break this level has led to a decrease to $ 0.632.

If IMX gains enough momentum to violate both resistance levels, this may push towards a peak of $ 0.816. If the bullish force continues beyond it, it will remain more upward.

Permanent investors return the gathering

Permanent investors have been the main shareholders in the last IMX gains, especially in the past 24 hours.

During this period, IMX’s open interest rates and financing increased.

Source: Coinglass

according to CoinglassOpen interest (OI) – which tracks the total number of unstable derivative contracts – jumped 26 % to 46 million dollars, at the time of the press.

Meanwhile, the financing rate (FR) remained positive for four consecutive days and showed a reading of 0.0117, according to Coinalyze.

Positive Fri indicates that most of the OI’s permanent contracts are kept by long traders – taking into account the upscale expectations.

Source: Coinalyze.

An obstacle in front of her

As IMX approaches the resistance level of $ 0.632, the immediate market investors began to reduce their exposure, according to Coinglass Data.

After three days of accumulation, immediate investors sold $ 541,000 from IMX, where the price approached this resistance, indicating that they may expect a significant sale at this level.

Source: Coinglass

If this sale declines and buying CVs tomorrow, it may indicate a temporary correction and sign that buyers remain confident.

In general, while the upright IMX movement and the strength of the broader encryption market may indicate more gains, the recent decline may be a healthy correction phase.