IMXUSDT→ Exit from consolidation. One step away from the bullrun
2024-08-27

BINANCE:IMXUSDT  exits the local consolidation and also breaks the resistance of the global trend, which can be regarded as a positive prerequisite for growth. 

IMX is consolidating above the support at 1.386, formed in June. The area divides the market into 2 parts (long and short). Bulls are actively trying to keep the price above this zone, buyers' target is the area of 2.576. But before the rally MM can form a local long-squeeze, in which a false breakdown is possible (liquidity capture below the level) before further movement. It is also worth paying attention to MA-50, within the framework of the retest the market may test both sma and the previously broken wedge boundary before resuming the rally phase. 

 Support levels: 1.386, MA-50, 1.076
Resistance levels: 1.543, 1.784 

Bitcoin is pressuring the market, which is forming a local correction, if the flagship starts moving up, it will strengthen the overall tone in IMX. But, if still bulls hold 1.385-1.400, breaking 1.520 resistance will give another chance for growth.

Regards R. Linda!