Immutable (IMX) Price Prediction: Can IMX Double Its Value in the Next Quarter?

Updated: 21 September 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Immutable (IMX) attracted the attention of buyers earlier today, September 21, when its price suddenly skyrocketed.

The project positions itself as the first L2 scaling solution for NFTs on Ethereum, effectively bypassing the limitations of the Ethereum blockchain, such as illiquidity, poor UX, slow developer experience, etc.

As such, it is already worth looking into, but from the buyers’ perspective, the project’s token’s price makes it a hot crypto now.

Immutable Sees a Sudden Surge

In the last month, the token saw relatively low levels of volatility. Its price fluctuated between $0.55 and $0.60 between August 21 and September 3.

Once September had started, the price stopped going back and forth between the support and the resistance, sticking much closer to the support level for about a week.

Around September 9, however, the support at $0.55 was broken, and the token dropped to just under $0.50. It reached this level on September 11, which was last Monday.

After that, the token spent several days trying to climb back up, but the new resistance at $0.50 kept it from doing so until September 15.

This was when IMX saw a sudden price increase that allowed it to return to $0.55, although this former support was now also acting as a resistance. This was where the token was for the past week until September 21.

In the early hours of September 21, the token suddenly surged by over 27%, going from $0.55 to the price of $0.75. IMX only took an hour to make such a leap, and its price fluctuated between $0.70 and $0.75 for the next few hours.

The resistance seems quite strong, not allowing the price to move forward, but the support at $0.70 broke after a while, becoming the new resistance. The price did not drop further down, sticking to this level instead, which leads us to IMX’s value at the time of writing, as the token sits at $0.68.

Can IMX Grow Further?

The token has seen a surge of 35% in only six hours, which makes it easy to understand why it attracted as much attention as it did. To those who reacted quickly, this was an excellent opportunity to turn a profit.

The question now is whether this was just a one-time price anomaly or if IMX has the potential to grow further, especially in the upcoming Q4. Historically, Q3 of any year could have been better for the crypto industry, and September is known to be the worst month for digital assets.

However, Q4 tends to be when the prices recover the most, which has made some traders optimistic about the upcoming period. However, it is hard to predict what will happen next. The token did see massive interest, with its volume skyrocketing by over 2,000% in the last 24 hours, currently at $345.4 million.

Its market cap is up by 25%, as well. This might be enough to put it on the map and attract new buyers, theoretically allowing its price to grow in weeks and months.

Wall Street Memes to See Listing in 4 Days: The Last Chance to Buy

In only four days, the most popular new meme coin in 2023 will see its first listing on a Tier 1 exchange, according to the Wall Street Memes (WSM) website.

The project saw massive popularity this summer, with its presale raising over $25 million in the past few months. However, the presale is ongoing, so anyone with high hopes for the project can still purchase its WSM token for $0.0337.

Once the token hits the exchanges, its price may increase, so buying it now would mean buying it cheaply.

There is no guarantee that the price will surge, but with the start of Q4 immediately after the token’s launch, chances are that the market will see a bullish wave rather than a bearish one.

Those who purchase WSM can do so in exchange for BNB, ETH, or USDT. Alternatively, they can buy it with their credit or debit card.

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