Immutable X advances within recent range as sellers remain in control according to RSI: weekly forecast

Traders Union
All News
Crypto
Immutable X gains 4.26% this week

Highlights

IMX remains in a bearish trend, consistently trading below major moving averages on the weekly time frame.
Key technical indicators show weak momentum, with sellers dominating and no bullish confirmation from MACD, ADX, or other signals.
Price is expected to range between $0.1160 and $0.1420 this week, with a break below support more likely than an upward move.

Extended bearish momentum as technical indicators show no bullish signals

On the weekly chart, IMX continues to struggle underneath its major moving averages, with the MA-20 at $0.1535 acting as the next dynamic resistance. The Ichimoku Kijun line is also far above the current price level, reinforcing sellers’ control. Key support is found near $0.1160, while immediate resistance stands at $0.1420. Weekly RSI hovers around 36, showing ongoing bearish momentum, and momentum signals from MACD and ADX remain notably weak. CCI sits in oversold territory, the Stochastic RSI is neutral at the midpoint, and Bull/Bear Power is negative — all underscoring a bearish bias with no strong bullish confirmation on the weekly timeframe.

Sideways action likely next week amid weak breakout prospects

Over the next 7 days, IMX is likely to move sideways within a range of $0.1160 to $0.1420, reflecting the elevated weekly volatility of 19.05% and a lack of bullish technical signals. The probability of a notable upward breakout is less than 20%, as none of the four primary indicators give a buy signal. For a bullish reversal, IMX must break decisively above immediate resistance near $0.1420. However, if sellers regain momentum, the price could slip below $0.1160, extending the weekly downtrend.

Jainam Mehta, market strategist, notes that IMX has spent the week trading under its key moving averages, signaling that medium- and long-term momentum remains negative. Weak readings from MACD, ADX, and Bull/Bear Power reinforce the theme of subdued bullish conviction, while the price is capped by resistance at $0.1420 and supported at $0.1160. He sees sideways trading within this corridor as the likeliest path unless a breakout above resistance signals a reversal. "With indicators showing little optimism, I plan to stay patient and wait for a clear move above $0.1420 before entertaining any bullish setups this week."

Earlier, analysts noted that Immutable X was showing robust short-term bullish momentum, with buyers dominating the market and technicals supporting further gains. With the current shift to weak weekly signals and deep-seated bearish pressure, traders should closely monitor the $0.1160 support, as a sustained break below this level could trigger a fresh leg down in the coming sessions.

Source of Data: IMX Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.