Rally

Major

bullish

Movement

<ul class="wp-block-list">
 <li>IMX/USDT broke above a long-term descending trendline, signaling a potential trend reversal.</li>  
 <li>The price is consolidating in a support zone between 1.2114 and 1.3918, which could serve as a launch pad for further gains.</li>  
 <li>A key resistance level to watch is 1.8031, with a break above potentially signaling a continued bullish run.</li> 
</ul>  
<p>The<a href="https://cryptonewsland.com/top-altcoins-to-invest-in-now-sui-imx-fet/" target="_blank" rel="noopener noreferrer nofollow"> IMX/USDT </a>cryptocurrency pair is recently showing a technical pattern change of the price and outbroke a long-term descending trendline that has limited the price rise. After this breakout it ran back up to a support zone around the levels of 1.2114 and 1.3918. It is on this range that price consolidation is considered critical as it creates a basis for a steeper uplift in the coming weeks. Looking at the market, however, it has a gain appearance which would mean that there may be a rally in progress.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/Crypt0_vanguard/status/1844354796876173717
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-support-zone-and-price-target">Support Zone and Price Target</h2>  
<p>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.&nbsp;</p>  
<p>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.</p>  
<h2 class="wp-block-heading" id="h-potential-for-upside-movement">Potential for Upside Movement</h2>  
<p>Presently, there is positive expectation concerning the continuing of <a href="https://cryptonewsland.com/immutable-token-crashes-hard-after-polygon-partnership-reveal/" target="_blank" rel="noopener noreferrer nofollow">IMX/</a>USDT upward movement at the chart. The breakout from the descending trendline has helped build more confidence in the market, and having consolidation around the support zone only adds to this perspective. If the price anchors at levels higher than 1.3918, there is room for a higher move to play out which might possibly test even higher resistance levels beyond the 1.8031 mark in the future.</p>  
<p>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.</p> 
<p>The post <a href="https://cryptonewsland.com/imx-usdt-eyes-major-rally-after-trendline-break-key-levels-to-watch/" rel="noopener noreferrer nofollow">IMX/USDT Eyes Major Rally After Trendline Break: Key Levels to Watch</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

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

Table of Contents

Crypto News Land

Other articles published on Oct 10, 2024

Tilray Brands’ Q1 2025 Net Revenue Surges by 13%, Reaching $200 Million

Bitcoin Amsterdam Conference Begins October 9-10, 2024

This Massive Bitcoin (BTC) Surge Makes Zero Sense

Fed Hints at Smaller Rate Cut as Inflation Persists

CHINPEPE Memecoin to Rally 19,000% Before Exchange Listings, While SHIB and DOGE Fall

Here’s how the FBI used fake crypto to expose widespread fraud

Join our free newsletter for daily crypto updates!