Altcoin Immutable ( $IMX )
Immutable IMX1 has experienced a decline over the last two months, trapped in a descending wedge pattern and currently priced at $0.539. This altcoin has lost 22% of its value in the last two weeks, indicating ongoing bearish pressure. However, this pattern also suggests the possibility of a breakout that could reverse the current trend.
IMX is still holding above the important support level of $0.508, which is reinforced by the launch of RavenQuest, a Sandbox MMORPG game scheduled for release on March 14. This launch could spark new interest and investment, as well as improve market sentiment towards IMX.
If IMX is able to capitalize on this momentum, there is potential to break through resistance at $0.684 and possibly reach $0.810. However, if it fails to break through, the bullish prospects could be invalidated. In a bearish scenario, losing support at $0.508 could lead to further declines towards $0.400.
