Immutable (IMX) Set for Growth — Emerging LTF Structure Indicates This!
Market Overview: The cryptocurrency market is experiencing a slight retracement, with Bitcoin (BTC) and Ethereum (ETH) down nearly 1%, impacting leading altcoins like Immutable (IMX).
Harmonic Pattern Development: IMX is forming an ABCD harmonic setup on the 2-hour chart, indicating potential for an upward movement, particularly if it can break above the 100 MA resistance at $0.2361.
Price Projections: Should IMX successfully surpass the 100 MA, it could target a price of approximately $0.2757, representing a potential 19% increase from current levels, appealing to short-term swing traders.
Support and Risks: Maintaining support at the C-marker ($0.2270) is crucial; failure to do so may lead to consolidation and delay the anticipated upward movement, though the overall setup remains constructive.
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