The Immutable (IMX), Arweave (AR), and Fetch.ai (FET) cryptocurrencies faced significant selling pressure and eroded gains in the past 24 hours. Amidst the recovery in the crypto market, these tokens remained negative. IMX displayed bull trap activity, AR faced rejection near the $50 supply region, and FET showed no buying interest. IMX failed to sustain momentum and encountered rejection near the 100-day EMA mark.
Analysts observed a head and shoulders pattern in IMX, with resistance near $2.80. AR formed a rounding bottom pattern aiming at the $50 mark, while FET exhibited range-bound movements around the $2 mark. Despite profit booking and losses, these tokens might retest key levels in the near future.
The daily charts depict challenges for IMX, AR, and FET, showing resistance levels and profit booking. IMX traded at $2.40 with a 4.26% drop, AR traded at $39.38 with a 2.75% drop, and FET traded at $2.27 with a 3.10% drop. Market trends indicate potential upsides but with prevailing challenges.
