Immutable X Price Prediction for Today, December 4: IMX/USD Finally Reaches $0.5 Price Level

It took Immutable X price long enough to reach the $0.5 price level. The bullish price was previously rejected at this level on November 11. And since then, due to active contention for the price by the bulls and bears, the progress of the price to the upside has been very slow. However, the buyers began to gain the upper hand on November 29 at the support level of $0.417. This support price level forms the basis for the price at its current position in the market. 

Immutable X Market Price Statistic:

• IMX/USD price now: $0.496
• IMX/USD market cap: 362,868,762
• IMX/USD circulating supply:718,714,289.78
• IMX/USD total supply: 2,000,000,000
• IMX/USD coin market ranking: #81

Key Levels

• Resistance: $0.55, $0.60, $0.70
• Support: $0.40, $0.35, $0.30

Immutable X Market Price Analysis: The Indicators’ Point of View

According to the RSI indicator, the market is just still in the midrange. The buyers need more than just advancing the price to the midrange, They need to take the price above the $0.5 price level to establish a stable bullish market. Also, in the MACD indicator, we now have a bullish crossover in the sell zone. But this is not enough, the MACD line now needs to cross out of the sell zone.

IMX/USD 4-Hour Chart Outlook

From this perspective, the bearish resistance faced by the buyers is not too strong. With a spike in the buying volume of trade, the bullish price will continue to trend. And once the bullish price becomes stable above the $0.5 level, the next target for the market is $0.6.

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