According to CoinMarketCap Immutable (IMX) price has increased in the last 24 hours. At the time of writing, the altcoin’s price is trading at $0.8098 after posting a 24-hour gain of 6.61%. Additionally, the crypto managed to hit a daily high of $0.8272. It has since been withdrawn.
Over the past 24 hours, IMX has also managed to outperform Bitcoin and Ethereum. At the time of writing, IMX is up 6.22% against BTC and 5.67% against ETH. Altcoins not only has it seen an increase in price. At the same time, daily trading volume increased by more than 100% to a total of $35,325,857.
The price of IMX has been in a consolidation period between $0.708 and $0.837 for the past 2 weeks. On Thursday, the altcoin’s price dropped to the bottom of its price channel. This forced the bulls to give a much-needed pump. This injection of buy volume then forced the price of IMX to break above the 9-day and 20-day EMA lines on Friday.
Also, the price of IMX retested the upper level of the aforementioned consolidation channel. However, it failed to close the day’s trading session above the key resistance level. Earlier in today’s trading session, it tried to turn the level back to support. But once again, he suffered a retreat.
However, technical indicators on IMX’s daily chart were still pointing bullish as the daily RSI line broke above the daily RSI SMA line. Also, the 9-day EMA line was on the verge of triggering a major bullish flag and was looking to break above the 20-day EMA line.