IMX is setting its sights on the next big target at $3. It's currently trading within a large channel and showing a weekly hidden bullish divergence—an encouraging sign for upward continuation. A potential double bottom is forming, with the neckline around $0.71. If that breaks, the initial projection is around $1.50, with $3 as the eventual target.
However, $3 is a major resistance level, so the road up won’t be easy. Still, the structure looks bullish in the long term. Now it's a matter of watching how price action unfolds in the coming weeks.
However, $3 is a major resistance level, so the road up won’t be easy. Still, the structure looks bullish in the long term. Now it's a matter of watching how price action unfolds in the coming weeks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.