Immutable Price Prediction: 2024, 2025, 2030

IMX price prediction: Key highlights

1. Primary support and resistance levels

• The price level of around $4.2 can likely be the highest resistance on the weekly chart.
• Meanwhile, $0.5 marked the lowest support for the price. 

2. Market sentiment

• The market has been observed to be slightly bearish on IMX in May 2024.

3. Predictive forecasts

• Our AI/ML predictive algorithms project IMX to trade at an average price close to $140 in 2029 and $9,200 by 2035.

Given below is an extensive weekly technical analysis of IMX, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

IMX technical analysis: Increased supply pushes investors to sell

The IMX market revealed a dynamic interplay between bullish and bearish forces. Between May 2023 and May 2024, the price experienced significant fluctuations, providing the groundwork for Immutable price prediction for 2024.

Beginning the period under bearish clutches, the price experienced a continuous descent. This downtrend was finally halted at $0.5 in September, effectively turning this level into the lowest price floor.

After stabilizing at this level for over a month, the bulls rallied. The improvement in the broader market was a major trigger for this uptrend. The emergence of back-to-back bullish candles pushed the price above the $1.3 mark in late November, turning it into a support.

In early December, the token garnered massive hype as investment manager VanEck projected that it could ascend into the top 25 cryptocurrencies by market capitalization. This optimism was largely fueled by the anticipated release of high-profile video games, such as Illuvium (ILV), Guild of Guardians (GOG), and other high-budget games. These were expected to drive demand and adoption of the token.
 

This attention pushed the token to test the upper resistance at $2.5. Nonetheless, a correction materialized due to the asset being overbought. The bulls managed to stave off selling pressure by holding the price at the support of $1.8 in early 2024.

February brought a resurgence of optimism as the price resumed its ascent, flying past the $2.5 mark. By mid-month, the token was testing its peak resistance over the analyzed time frame at $3.4.

March saw the bull run lose momentum as the trend reversed. This was indicative of another correction. Yet, this time, the bulls could not keep their footing on immediate support. A significant drop in April pushed the price back to $1.8. As the analysis concluded, the altcoin exchanged hands at $2.0.

This downturn could be attributed to the series of token unlocks in 2024. As of May 2024, Immutable has already unlocked more than 73.39% of all previously locked tokens. Data from TokenUnlocks highlighted that this was valued at $1.47 million.
 

The pace of these unlocks is set to increase, further expanding the supply of IMX in the market. Notably, the next unlock is scheduled for May 17, involving an additional 25.53 million tokens. It could potentially exert downward pressure on the token's price, comprising the current support.
 

This can likely trigger the continuation of a strong bearish trend, which could push IMX as low as $1.3. However, if the market manages to absorb the supply, IMX could witness another rally. Reclaiming $2.5 can pave the way for the asset to retest its peak chart resistance. 
 

In an optimistic scenario, the price can reach $5.0 in 2024. However, this would require overcoming substantial pushback around $4.2. 

Our predictive models forecast significant growth for the IMX token, projecting an average trading price of around $140 by 2029. Looking ahead, the models anticipate a substantial increase to approximately $9,200 by 2035, highlighting a long-term bullish outlook for the token.

IMX's 2024 roadmap: Key indicators to watch and trade

• The 20 and 50-week Exponential Moving Averages (EMAs) primarily acted as resistance levels until Q4 2023. As the uptrend progressed, a golden cross formed in late November.
• In April, a price drop caused the candlesticks to fall below the 20 EMA and move closer to the 50 EMA. This reflected the waning of bullish strength.
• The Relative Strength Index (RSI) crossed its neutral threshold in late October. The bullish ascent pushed the indicator into overbought territory the following month.
• After a brief dip in early 2024, the RSI once again entered this region in late January, but it experienced a drop by March. The descent continued, turning the indicator bearish by April. At the time of writing, the RSI stood at 47.54.
• The trading volume surged during the late 2023 rally. However, following a price rejection at $2.5, the volume diminished. Even as the price appreciated subsequently, the trading volume did not recover significantly. This pointed to a lack of investor interest.