IMX/USDT Eyes Major Rally After Trendline Break: Key Levels to Watch

• IMX/USDT broke above a long-term descending trendline, signaling a potential trend reversal.
• The price is consolidating in a support zone between 1.2114 and 1.3918, which could serve as a launch pad for further gains.
• A key resistance level to watch is 1.8031, with a break above potentially signaling a continued bullish run.

Support Zone and Price Target

Once below the downward sloping trendline the correction back to the 1.2114-1.3918 support level suggests that the market is more settled. This level could exert a bull signal which would be good for the start of an upward trend. The current support zone provides a conducive ground for buyers, whereby most analysts are likely to call for a higher price from that level. 

However, at present, we’re poised to see the price break higher in a similar manner with key levels at 1.8031 with upside momentum leading to a breakdown of this level being a key resistance. If IMX/USDT is to achieve this target, it could be a sign for a bullish run to continue.

Potential for Upside Movement

The last technical act regarding IMX/USDT refers to the analysis of the support area of ​​1.2114-1.3918. This level therefore translates to a support level for the market on its way toward a possibly bullish breakout to the 1.8031 mark. Traders will probably keep an eye on this price fluctuation, as the upcoming weeks may become critical for IMX/USDT’s price.