👀 Let's wrap up the day with a review on an interesting asset that has recently attracted quite a bit of investment, I bought on the spot!
$IMX (4H) - Market picture today
Price is locked in a sideways pattern after a rapid rise - we are seeing a clear distribution phase with liquidity taking away.
🗣 Downside breakdown:
A move below $0.52 followed by a return to the buy zone could be a trigger for a rebound to $0.62 and above.
🗣 Rebound from above:
Upward momentum to $0.60-0.62$ without volume support could turn out to be a trap - a sharp plum down from there is likely.
Areas of interest:
- Resistance: 0.60-0.64$.
- Support: 0.50-0.52 $ and further - key area of 0.38-0.40 $, where activation of big capital is probable.
While the market has not chosen the direction, we should not hurry. We are waiting for reaction from the zones - only confirmed signals have weight.
Buy and Trade $IMX here
