IMX to the Moon… or Not? 🚀

by

Oy Vey! What’s Happening with IMX?

So, IMX went up 52%? Nu, big deal! It’s like my Aunt Mildred at a mahjong tournament – a little excitement, but don’t get your hopes up too high. 🤪 They hit $1.1 billion, which is a lotta gelt, but there’s a hurdle…a BIG hurdle.

Immutable [IMX], this cryptocurrency thing, it’s been climbing, yeah? Like a desperate man up a beanstalk. Market cap up 14% to $1.1 billion and the price is, like, $0.62. Not bad, not bad… but still waiting for the goose that lays the golden eggs.

These “perpetual investors” are driving the bus, apparently. Schmucks! But everyone’s getting a funny feeling…headwinds, they call it. Sounds like a bad hair day for your portfolio.

Will IMX go higher? Or will it fall faster than a Borscht belt comedian’s career? AMBCrypto’s “experts” are poking around, trying to figure it out. Good luck with that! 🤨

The Breakout… and the Brick Wall

So, 52% up? Okay, okay, not terrible. Broke through a… what do they call it… a “descending resistance channel”? Sounds like a fancy plumbing problem to me. 🚽

Usually, this means the price goes *up*. Like a rocket, maybe? To $0.816, or even higher! If the “bullish momentum” holds, which, let’s be honest, is a big “if”.

But HOLD THE PHONE! There are obstacles. A “Fibonacci Retracement tool”? Oy, don’t get me started on these fancy charts! It means resistance is coming! Like trying to get a seat at a delicatessen on a Saturday!

Apparently, there are two spots where IMX is gonna get smacked down.

First, $0.632. Right above where it is now. This is bad! It used to be good, a support level, but then… *poof!* 19% drop! Like forgetting your mother-in-law’s birthday. You’re in trouble!

Then, $0.713. Tried to break that one before and went right back down to $0.632. It’s like trying to escape a timeshare presentation.

Break those, and *maybe* $0.816. And if it keeps going… well, who knows? Maybe we’ll all be driving flying cars! (Don’t count on it.)

The Perpetual People

These perpetual investors, they’re the ones making things happen, especially recently. Big spenders, these guys…or maybe just desperate gamblers. 🤷

“Open Interest” and “Funding Rates” are up. Sounds like a complicated banking scheme. 💸

Apparently, “Open Interest” jumped 26% to $46 million. That’s a lot of… something.

And “Funding Rate” is positive for four days! Positive! What’s next, world peace? (Don’t hold your breath.) It means people are betting *on* IMX going up. They’re all in!

But Wait, There’s a Catch!

As IMX gets close to $0.632, people are starting to sell. Smart people! They see the writing on the wall! 🕵️

$541,000 worth of IMX sold! They think there’s going to be a big sell-off. And you know what? They’re probably right!

If the selling stops, maybe it’s just a temporary dip. But don’t get excited!

So, IMX is going up, the market’s doing okay…but a pullback is likely. A little correction. Like a slap in the face to remind you not to get too comfortable. It’s the crypto life, folks! Deal with it! 🎭

Read More

2025-07-18 21:54