Renowned analyst CryptoClaws shared insights on the recent breakout of IMX price from a symmetrical triangle, signaling potential bullish momentum.

Breakout on the IMX Chart

The IMX price broke above the top trendline of the symmetrical triangle, as seen on the chart. After this, the price rose into the resistance zone of $1.75 to $1.85, encountering resistance. This pattern often indicates a shift in market sentiment.

Support and Resistance Levels

Two main resistance zones stand out: the first at $1.75 where the price recently faced resistance, and a higher zone at $2.50. Support is noted at $1.50, offering potential for swing trades.

Indicators and Market Sentiment

The Relative Strength Index (RSI) shows neutral conditions at 52.49, suggesting balance between buyers and sellers. The MACD indicator is slightly bullish but mostly neutral, indicating potential for movement in either direction based on future price action.

IMX’s recent price breakout has injected momentum into the token, but key resistance and support levels remain crucial to watch.