IMX price up 28% as signs of bullish reversal emer
IMX price up 28% as signs of bullish reversal emerge, how high can it go?
IMX price hit an 8-month high of $0.86 today.
The token’s supply on exchanges has dropped over the past month.
Technicals are flashing early signs of a bullish reversal in the making.
According to data from crypto.news, ImmutableX Immutable
imx
10.82%
Immutable price rose 28% to an 8-month high of $0.95 before it settled at $0.86 at the time of writing. At this price, the token is up nearly 100% above its monthly lows and 160% from its year-to-date low.
The daily trading volume for IMX has doubled over the previous day, a sign of robust demand from traders.
IMX’s gains come amid an ongoing trend of investors moving their holdings off exchanges. Notably, the token supply on exchanges has decreased from 267 million at the beginning of September to around 253 million at press time, according to data from Nansen.
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