Following a recent downturn in the cryptocurrency market, a resurgence is underway as several alternative digital currencies, known as altcoins, exhibit promising upward trends. Amongst these, IMX Coin is making noteworthy strides, casting its sights on surpassing previous records. This emerging pattern raises questions about the potential value of IMX Coin in the near future.
Surge in IMX Coin’s Market Performance
While not all altcoins have fully capitalized on the market’s rebound – with DOGE and SHIB showing muted reactions – IMX Coin stands out with its impressive price surge. Since October, IMX Coin has been on an uptrend, hitting a December 2023 peak of $2.6, and now, breaking through resistance levels to reach $3.06, marking its highest value in two years and a significant weekly closure above a long-standing resistance point.
Despite achieving a new two-year high, the Relative Strength Index (RSI) shows a bearish divergence, as it eases slightly with the price hike. This indicator suggests the possibility of price fluctuations if the easing of RSI persists.
Forecasting IMX Coin’s Trajectory
Crypto experts maintain a positive stance on IMX Coin’s prospects. Analysts, including CryptoScofield, anticipate a continuation of the strong trend, with a 50% rise post-wedge pattern breakout, while IWantCoinHaberleri projects further gains based on previous increases of 300%. Daily chart analysis, including wave counting and RSI levels, seems to confirm the continuation of the uptrend.
With IMX Coin having overcome a $2.45 resistance, predictions suggest it could attain a $4 valuation in the final wave, a 35% climb from its current stance. However, a bearish downturn could see a fall to $1.75, where buyers might intervene to mitigate losses.