The price of IMX has increased by more than 32%, targeting 0.79–0.87 USD.

The announcement came after the U.S. Securities and Exchange Commission (SEC) concluded its investigation into the IMX token of Immutable without taking any enforcement action, providing a solid legal basis for the company to continue expanding.

In the past year, the Immutable ecosystem has experienced impressive growth with over 5 million new users through Immutable Passport, despite having only released 10% of the planned games. Ferguson emphasized that "growth rate" is more important than the current position.

With support from strategic partners such as Tencent and Temasek, Immutable is currently supporting over 500 games that are either operational or in development, affirming its position as one of the leading Web3 gaming platforms today.

IMX price targets 0.79–0.87 USD

Immutable's IMX has been in the spotlight as it recorded its most impressive price gain over the past 24 hours, soaring to more than 32 percent, amid positive sentiment spreading throughout the crypto market. This strong rally coincided with the Bitcoin price regaining the important psychological mark of $90,000, thereby triggering a wave of broad-based recovery and leading to the breakout of many altcoins, including IMX.

Trading volume surged 761%

As of the time of writing, the price of IMX is trading around 0.65 USD — the highest price in 27 days, marking a 38.7% increase in just one day. Notably, the trading volume of this token has surged by 761%, reflecting a significant increase in buying and selling activity and showing a growing interest from investors.

IMX Price and Trading Volume | Source: SantimentThe convergence between price and volume is a positive technical signal, indicating that buying pressure is increasing and reinforcing the strength of the current uptrend. The willingness of many traders to enter the market at higher price levels shows that confidence in the growth potential of IMX remains intact.

Technical signals reinforce the bullish trend

On the daily chart, IMX is currently trading above the 20-day exponential moving average (EMA 20) — an indicator showing that the price is in a short-term uptrend. The 20-day EMA reflects the average price over the last 20 sessions, with a higher weight given to recent prices, helping to timely identify changes in market momentum.

When the price rises above this EMA line, it indicates that buyers are in control and the market is gradually leaning towards bullish.

The 20-day EMA of IMX | Source: TradingViewAdditionally, the MACD indicator of IMX is also showing positive signals Currently, the green MACD line( is above the yellow signal line) and the zero line.

IMX MACD | Source: TradingViewThe MACD indicator of an asset determines the trend and momentum in its price movement, helping traders detect potential buy or sell signals through the crossovers between the MACD and the signal lines.

When the MACD line is above the signal line, buying activity will dominate the market. For IMX, this setup reinforces the recent bullish trend and indicates that upward pressure may continue as traders build confidence in the short-term trajectory of the asset.

Additionally, the Balance of Power index (BoP) of IMX is currently above 0.54, indicating that the strength is leaning towards the buying side. When BoP remains above 0, it implies that demand is outpacing supply, reflecting strong accumulation from investors.

IMX price chart 1 day with BoP | Source: TradingViewWith technical factors and market sentiment remaining positive, IMX could extend its current bullish momentum to the 0.79 USD range, and if buying pressure is maintained, the possibility of testing the 0.87 USD level in the short term cannot be ruled out.

However, the risk of adjustment still exists if investors start to take profits after a strong increase. In that case, IMX may reverse and test the support area around 0.34 USD.

Disclaimer*: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making a decision. We are not responsible for your investment decisions*

Lilly