The gaming altcoin IMX is leading the pack and has been for the last 30 days. Prices have skyrocketed 147% and are predicted to continue to rise.
CoinMarketCap price chart done 2/8/23 at 5:40pm of last 30 days of IMX.
ImmutableX (IMX) has surged by 147% during the past thirty days, increasing from $0.42 on January 8th to its current value of $1.04.
The layer-2 protocol’s price explosion comes as the project says its blockchain technology is becoming increasingly popular for Web3 uses, including gaming.
“Immutable is becoming the leading ecosystem of choice for the highest quality Web3 games and experiences. Here is everything you missed this week on how we are bringing Web3 to the mainstream.”
The project also says it will soon launch the “Immutable Passport,’’ a non-custodial wallet that streamlines the ability for Web3 games to onboard players.
In a recent press release about the wallet, the project says,
“Customer research conducted by the ImmutableX team found that ease of onboarding, security, and plug-and-play features were the top priorities for development studios integrating Web3 components into their game.
Achieving these goals requires a mainstream gamer-friendly wallet to possess a simple sign-in process, leveraging social logins from popular services like Google and Apple. This will allow gaming projects to easily welcome new, larger audiences.”
ImmutableX is also a partner in the NBA on TNT’s watch-to-earn program, where participants can earn tokens by answering trivia questions and use them to purchase digital items from an online marketplace.
Token projects built on ImmutableX are also seeing surging prices, such as the non-fungible token (NFT) gaming project Illuvium (ILV).
ILV shot up by more than 70% in a week amid new upgrades, reaching a weekly high of $105 from a low of $61.81 on January 29th. Illuvium has since retraced and is trading for $90.27 at time of writing.
|Internet Growth||Buy||$ 1.857765||$ 2.40||$ 3.10|
|Google Growth||Strong Buy||$ 2.72||$ 4.24||$ 6.61|
|Facebook Growth||Strong Buy||$ 5.49||$ 12.17||$ 26.99|
|Mobile Growth||Buy||$ 1.826527||$ 2.34||$ 2.99|
Comparing Immutable X against other important technological innovations and trends is one way of predicting where the Immutable X price could head over the long term. The table above shows what the Immutable X price would be by end of year 2024, 2025, and 2026 if its growth trajectory followed the growth of the internet, or large tech companies like Google and Facebook in their growth phase.
mmutable X is currently trading above the 200-day simple moving average (SMA). The 200-day SMA has been signaling BUY for the last 9 days, since Jan 30, 2023.
The price of Immutable X is currently above the 50-day SMA and this indicator has been signaling BUY for the last 31 days, since Jan 08, 2023.
The most recent Death Cross in the Bitcoin market happened 262 days ago, on May 22, 2022.
Based on our technical indicators, Immutable X’s 200-day SMA will rise in the next month and will hit $ 0.753275 by Mar 10, 2023. Immutable X’s short-term 50-Day SMA is estimated to hit $ 1.229776 by Mar 10, 2023.
The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 76.64, which indicates that the IMX market is in a overbought position. The RSI indicator suggests that the price of IMX will increase.
Popular IMX Moving Averages and Oscillators for Wed, Feb 08, 2023
Moving averages are a popular indicator in all financial markets. The purpose of a moving average (MA) is to smooth price action over a certain amount of time. Moving averages are a lagging indicator which means they are based on previous price action. In the table below you can find two types of moving averages, simple moving average (SMA) and exponential moving average (EMA).
Daily Simple Moving Average (SMA)
|SMA 3||$ 0.941160||BUY|
|SMA 5||$ 0.938893||BUY|
|SMA 10||$ 0.843730||BUY|
|SMA 21||$ 0.744275||BUY|
|SMA 50||$ 0.576485||BUY|
|SMA 100||$ 0.521503||BUY|
|SMA 200||$ 0.674724||BUY|
Daily Exponential Moving Average (EMA)
|EMA 3||$ 1.051880||SELL|
|EMA 5||$ 0.969315||BUY|
|EMA 10||$ 0.890633||BUY|
|EMA 21||$ 0.783311||BUY|
|EMA 50||$ 0.649576||BUY|
|EMA 100||$ 0.609240||BUY|
|EMA 200||$ 0.763254||BUY|
Weekly Simple Moving Average (SMA)
|SMA 21||$ 0.586200||BUY|
|SMA 50||$ 0.979559||BUY|
Weekly Exponential Moving Average (EMA)
|EMA 21||$ 0.663047||BUY|
|EMA 50||$ 1.060530||SELL|
Immutable X Oscillators
An oscillator is a technical analysis tool that constructs high and low bands between two extreme values, and then builds a trend indicator that fluctuates within these bounds. Traders use the trend indicator to discover short-term overbought or oversold conditions.
|Stoch RSI (14)||100.00||SELL|
|Stochastic Fast (14)||96.75||SELL|
|Commodity Channel Index (20)||66.67||NEUTRAL|
|Average Directional Index (14)||67.21||BUY|
|Awesome Oscillator (5, 34)||0.28||NEUTRAL|
|MACD (12, 26)||0.02||NEUTRAL|
|Williams Percent Range (14)||-3.25||SELL|
|Ultimate Oscillator (7, 14, 28)||66.99||NEUTRAL|
|Hull Moving Average (9)||0.99||BUY|
|Ichimoku Cloud B/L (9, 26, 52, 26)||0.79||NEUTRAL|
Immutable X Key Price Levels
Based on today’s classical pivot point (P1) with the value of $ 0.997592, Immutable X has support levels of $ 0.929320, $ 0.806760, and the strongest at $ 0.738488. Similarly, Immutable X resistance levels are at $ 1.120153, $ 1.188424, and $ 1.310985..
Immutable X Correlation
Over the past 7 days, Immutable X price was most positively correlated with the price of Maker (MKR), Stacks (STX), Algorand (ALGO), NEM (XEM) and Theta Token (THETA) and most negatively correlated with the price of Monero (XMR), Nexo (NEXO), Trust Wallet Token (TWT), XinFin Network (XDC) and Aptos (APT).
Positively Correlated Currencies
Immutable X price is positively correlated with the top 10 coins by marketcap with a value of 0.343, excluding Tether (USDT) and positively correlated with the top 100 coins by marketcap excluding all stablecoins with a value of 0.494.
Currencies that are positively correlated with Immutable X indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with Immutable X, a move in one direction for Immutable X would translate into a move in the opposite direction for the negatively correlated coin.
|Feb 9, 2023||$ 1.024550||1.54%|
|Feb 10, 2023||$ 1.052421||4.30%|
|Feb 11, 2023||$ 1.112064||10.22%|
|Feb 12, 2023||$ 1.153564||14.33%|
|Feb 13, 2023||$ 1.230817||21.99%|
|Feb 14, 2023||$ 1.224415||21.35%|
|Feb 15, 2023||$ 1.314981||30.33%|
|Feb 16, 2023||$ 1.308017||29.64%|
|Feb 17, 2023||$ 1.347137||33.51%|
|Feb 18, 2023||$ 1.274376||26.30%|
|Feb 19, 2023||$ 1.287281||27.58%|
|Feb 20, 2023||$ 1.419399||40.68%|
|Feb 21, 2023||$ 1.379849||36.76%|
|Feb 22, 2023||$ 1.519598||50.61%|
|Feb 23, 2023||$ 1.582395||56.83%|
|Feb 24, 2023||$ 1.477180||46.40%|
|Feb 25, 2023||$ 1.588514||57.44%|
|Feb 26, 2023||$ 1.466495||45.34%|
|Feb 27, 2023||$ 1.499567||48.62%|
|Feb 28, 2023||$ 1.439037||42.62%|
|Mar 1, 2023||$ 1.493380||48.01%|
|Mar 2, 2023||$ 1.528956||51.53%|
|Mar 3, 2023||$ 1.626244||61.18%|
|Mar 4, 2023||$ 1.868563||85.19%|
|Mar 5, 2023||$ 1.946360||92.90%|
|Mar 6, 2023||$ 2.05||102.79%|
|Mar 7, 2023||$ 2.01||99.41%|
|Mar 8, 2023||$ 1.922503||90.54%|
|Mar 9, 2023||$ 2.07||104.99%|
|Mar 10, 2023||$ 2.42||140.14%|
What is Immutable X’s price prediction today?
Based on the Immutable X price prediction, the price of Immutable X will increase by 21.99% and reach $ 1.230817 by February 13, 2023.
What is the current Immutable X sentiment?
The current Immutable X sentiment is bullish according to our technical analysis. The majority of technical indicators are showing buy.
How to predict cryptocurrency prices?
You can predict cryptocurrency prices by considering both on-chain and off_chain metrics, as well as technical indicators that take into account Immutable X’s past price performance. Another tool you can use is to gauge the market sentiment to see whether investors are optimistic or pessimistic about Immutable X. Keep in mind that there is no way to predict the future with 100% success, and past performance is no guarantee of future results.
Is it profitable to invest in Immutable X?
Over the last 30 days, Immutable X had 18/30 (60%) green days. According to our historical data, it is currently profitable to invest in Immutable X. The price of Immutable X decreased by -63.46% in the last 1 year.
What are Immutable X’s key price levels?
The key price level for Immutable X are the $ 0.929320, $ 0.806760 and $ 0.738488 support levels and the $ 1.120153, $ 1.188424 and $ 1.310985 resistance levels. Price breaks from those levels could indicate higher volatility in the coming days.
Is Immutable X a good buy in 2023?
Based on multiple technical quantitative indicators, the current forecast for Immutable X in 2023 is Bullish. This could be an indication that Immutable X is a good buy in 2023. However, it’s important to consider both technical factors (price history) and fundamental factors (on-chain activity and development) before making the decision to buy Immutable X or not.
How is Immutable X correlated to other assets?
Immutable X is most positively correlated with Maker (MKR), Stacks (STX), Algorand (ALGO), NEM (XEM) and Theta Token (THETA). Positive correlation means that these coins commonly trend in the same direction at the same time. Immutable X is most negatively correlated with Monero (XMR), Nexo (NEXO), Trust Wallet Token (TWT), XinFin Network (XDC) and Aptos (APT), which means that the Immutable X price typically moves in the opposite direction compared to these coins.
What will the price of Immutable X be next week?
According to our Immutable X forecast, the price of Immutable X will increase by 21.99% over the next week and reach $ 1.230817 by February 13, 2023.
What will the price of Immutable X be next month?
According to our Immutable X forecast, the price of Immutable X will increase by 140.14% over the next month and reach $ 2.42 by March 10, 2023.
What is Immutable X’s 50-Day SMA and what does it indicate?
Immutable X’s 50-day SMA (simple moving average) is currently $ 0.576485. The 50-day SMA indicates the average price of Immutable X over a 50-day period. The 50-day SMA is commonly used to gauge the price trend of an asset over an intermediate period of time. A rising 50-day SMA indicates a positive IMX price trend in the medium term, while a dropping SMA indicates the opposite.
The 50-day SMA is calculated by adding together Bitcoin’s closing prices in the last 50 days, and dividing the total by 50.
What is Immutable X’s 200-Day SMA and what does it indicate?
Immutable X’s 200-day is currently $ 0.674724. The 200-day SMA is a popular indicator that’s used to determine an asset’s long-term price trend. A rising Immutable X 200-day SMA indicates a positive long-term trend. Meanwhile, a falling 200-day SMA shows that IMX has been trending downwards over the long term.
Generated Image: Midjourney
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