ImmutableX (IMX) Price Prediction As It Bounces Back To $1, Will The Bulls Prevail?

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ImmutableX has returned to the $1 price level today after a slight retracement on February 13 to $0.9696. It is trading at $1.16, and the trading volume has spiked by 161.02%, showing the growing interest among traders for the asset. It currently ranks 54 in the crypto market and has a market cap above $896 million.

What is Driving ImmutableX Latest Price Surge?

IMX has recorded outstanding gains in the past three days due to several factors in the crypto ecosystem. Sometimes, cryptocurrencies react to news and developmental plans in their ecosystem. Positive news often attracts more investors to acquire them, increasing demand and increasing the price.

However, negative news could create panic selling or shorting, which results in excess supply and causes a decline in the asset’s price. Here are some events in the ImmutableX community that might push the current price rally.

Cross The Ages NFT collection Records Outstanding Success

Cross The Ages, a blockchain-based trading card game, officially launched its first NFT collection on the ImmutableX marketplace. The launch was stellar and sold 750 thousand NFTs within 24 hours.

A Golden Legacy Pack, one of the rarest in the game, sold for $57,000 on the third day of its launch. Richard Détente, the co-founder of the Grand Angle Meta (GAM), purchased the NFT pack.

🎁 FREE IMX Card Packs!

In celebration of @CrossTheAges' Road to GA, they are offering limited IMX & Cross The Ages partnership packs for the next 48 hours! Sign up below #onIMX https://t.co/QNuYhDuGoa pic.twitter.com/i87Da7Gtzl

— Immutable (@Immutable) February 14, 2023

Cross The Ages is an NFT and digital trading card game based on several fantasy and science fiction novels. This Web3 innovation on the network could increase interest among users.

Immutable Passport Introduced On The Network

ImmutableX, earlier in February, introduced an Immutable passport to support gaming. It is a non-custodial wallet that connects users to Web3 games on the network.

Introducing Immutable Passport, your passport to the future of gaming 🎮

We are developing Immutable Passport, the instant non-custodial wallet onboarding solution for web3 games. Designed to onboard the next billion users into web3 #onIMX https://t.co/A8WKmGUxlV pic.twitter.com/NOxmZl2vDk

— Immutable (@Immutable) January 31, 2023

The development team explained further that the App would eliminate the stress of maintaining multiple addresses and wallets for users. The emphasis was on lowering the entry barrier for the application, better asset distribution, and scaling Web3 games globally.

Robbie Ferguson, Co-founder of ImmutableX, expressed excitement for the project stating that it will not compromise the security of users’ crypto assets. He also said the goal was to reach 1 billion players, achievable with a passport.

ImmutableX Network Hosts Hackathon Event

ImmutableX hosted a hackathon event that kicked off on February 11, 2023, for Web3gaming. The event attracted over 300 hackers, with 24 games launched and $10,000 given out as rewards.

Hackathons are special community-based events for developers where they assemble to brainstorm and create apps or provide solutions. These events have increased in popularity over the years and often attract investor interest to crypto projects.

IMX Partners With Illivium To Launch Illuvium: Beyond

IMX has partnered with Illuvium to launch NFTs on March 7. These NFTs (Illuvitars) can bond with accessories for a unique appearance. The project is called Illuvium: Beyond. It offers Album points, Collections, and other customizable features.

💥Powered by IMX, their cutting-edge technology helps bring the most expansive and feature-rich NFT collection to light. @Immutable ensures true digital ownership as well as gas-free transactions.

We are proud to have them as a trusted partner for Illuvitars and beyond. pic.twitter.com/ttXTsxDx9Y

— Illuvium (@illuviumio) February 8, 2023

Illuvium is a decentralized game studio building a new and inter-operatable blockchain multiverse, focusing on Web3. Illuvials are the digital creatures in this universe that make the experience thrilling.

This project is powered by IMX, ensuring that users can execute gas-free transactions on the network. ImmutableX provided the solution to high gas fees since they can be a discouraging factor for some users.

Immutable X launches Watch To Earn platform Partner With NBATV

The IMX network has launched a watch-to-earn (W2E) program for its users. Community members are rewarded for tuning in to NBAonTNT to watch games and post-game events on the network.

The live broadcast offers users the opportunity for digital communication and foster growth in the community. Users can scan a QR code that will launch a trivia game to play during a live broadcast. Providing the right answers for the trivia will translate to B/R tokens that are redeemable for digital collectibles.

ImmutableX Price Prediction

ImmutableX (IMX) Price Prediction As It Bounces Back To $1, Will The Bulls Prevail? — Source: Tradingview.com

ImmutableX is trading at $1.16 in the market today, an increase of 19.63% in 24 hours with minor fluctuations. The asset has stayed above its 50-day and 200-day Simple Moving Averages (SMA) since January 31, 2023. It indicates bullish pressure that has sustained the asset to trade above $1.

IMX is also trading in the upper region of the Donchian Channel, which is a bullish signal and shows that it is still in an uptrend. A bullish engulfing pattern is observed on the price chart, and a large green candle formed on February 14, likely translating to a price increase for the asset.

The 50-day SMA is moving upwards and might cross the 200-day SMA to form a golden cross which will serve as a price pivot for the asset. The support levels are $0.75733, $0.84675, and $0.99128, and the resistance levels are $1.22523, $1.31465, and $1.45919.

The Relative Strength Index (RSI) is at 67.07, close to the overbought zone of 70. The indicator points upwards, possibly moving into the overbought zone. IMX will likely test the $1.22523 and $1.31465 resistance levels soon if the bulls persist.

ImmutableX Alternatives That Will Reward Investors

There is some altcoin presales investors can benefit from. These presales are already in their advanced stages and will soon list on exchanges in the open market.

FightOut (FGHT)

FightOut is a move-to-earn fitness platform that seeks to reward users for engaging in physical activities. The mobile App makes it easily accessible with plans that can help different users.

The presales have recorded tremendous success, with over $4.1 million realized. FGHT tokens are currently on sale for 0.02171 USDT and will rise in value with each presale stage. The FGHT tokens will be available on exchanges within the first quarter of 2023.

Meta Masters Guild (MEMAG)

This gaming platform has brought a new wave of innovation to the Metaverse. Meta Kart racers are set to launch soon, similar to traditional racing games offering users exciting challenges. GEMS are given out to players as rewards, while MEMAG, the native token, is used for transactions and on-chain governance.

It is a play-to-earn gaming model that rewards users for their achievements. One MEMAG token is worth 0.023 USDT on presale and is in its closing stages.

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