Immutable X (IMX)

Among the other Ethereum tokens, the Immutable X (IMX) shows a steady recovery resonating within two converging trendlines of wedge patterns. A recent reversal from the pattern’s lower trendline has updated the asset from $1.36 to $1.56, registering a 14.3% increase while the market cap surged to $2.54 Billion

While the chart setup typically recuperates the bearish momentum for the next breakdown, the buyers could invalidate the thesis if they challenge the overhead trendline. The IMX price is 25% away from surpassing the upper resistance trendline and drives a sustained recovery trend.

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