Bull Run Is Here for Immutable? As IMX Makes Two Years High

• Immutable (IMX) hits a two-year high of $3.05.
• Bulls hold ground, IMX aims for $3.50 and $4.

Immutable (IMX) has surged to a two-year high, hitting $3.05 amidst a flurry of bullish sentiment within the cryptocurrency market. This 11% jump signals a notable uptrend after a period of neutrality, reflecting growing investor optimism in the coin’s potential.

Despite overall market downturns, IMX has defied the odds, boasting a significant 13.5% gain, rising from $2.68 to $3.05 over the past 24 hours and currently trading at $2.96. This surge has propelled the asset’s market capitalization beyond the $4 billion mark, securing its position as the 21st-largest cryptocurrency by market cap.

Immutable (IMX) Price Chart (Source: CoinGecko)

In addition to its impressive price performance, Immutable has witnessed a notable uptick in trading volume, experiencing a 7.51% rally with volumes reaching around $231 million within the past 24 hours.

Trading above the critical $2.50 resistance level, Immutable’s current price of $2.96 suggests a continuation of the upward trajectory. However, bears are anticipated to mount a strong challenge around the $2.95 mark. A failure to sustain prices above $2.50 could signal weakening bullish momentum.
Conversely, if bulls maintain their stronghold and surpass the $3.05 resistance level, it could pave the way for further gains, potentially pushing the pair towards $3.50 and eventually $4, reinforcing bullish sentiments within the market.