IMXUSDT Broke out, 5-6x gain incoming!!
2024-11-29

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Let's analyse IMXUSDT fundamentally and technically.

FUNDAMENTAL ANALYSIS:
Immutable positions itself as the first layer-two scaling solution for NFTs on Ethereum. According to Immutable, its blockchain does away with Ethereum’s limitations like low scalability, a poor user experience, illiquidity, and a slow developer experience. Instead, users benefit from instant trading and massive scalability while enjoying zero gas fees for minting and trading NFTs without compromising user or asset security.

TECHNICAL ANALYSIS:
IMX has recently broken out of a symmetrical triangle pattern on the daily chart, suggesting a strong bullish trend. The price is currently trading above the crucial 200-day Exponential Moving Average (EMA), indicating a long-term uptrend. A significant increase in trading volume is expected to further fuel the rally. Additionally, a bullish crossover in the Moving Average Convergence Divergence (MACD) indicator confirms the positive momentum.

Key Level:
Entry: Current Market Price (CMP) to $1.56 (Dollar-Cost Averaging)

Potential Targets:
A potential 5-6x return from the entry point.

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