The Immutable (IMX) price has increased swiftly since October, culminating with a high of $2 today. 

The IMX price had not reached this level in more than 600 days. How long will this increase continue?

Immutable Finally Moves Above $2

The IMX price has been mired in a rapid increase since October. The rally has been significant and has not experienced and retracements. In 56 days, the IMX price increased by 300%, culminating with a new yearly high of $2.07 today. This was the highest price in more than 600 days.

While increasing, IMX also broke out from an important horizontal resistance area, which previously rejected the price in March (red icon). 

The RSI is a momentum indicator traders use to evaluate whether a market is overbought or oversold and whether to accumulate or sell an asset.

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Author: Valdrin Tahiri

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