{"id":84781,"date":"2023-11-15T07:15:08","date_gmt":"2023-11-15T12:15:08","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/is-immutable-going-to-zero-imx-price-takes-a-dive-as-budding-mining-coin-surpasses-4000000-milestone\/"},"modified":"2023-11-15T07:15:10","modified_gmt":"2023-11-15T12:15:10","slug":"is-immutable-going-to-zero-imx-price-takes-a-dive-as-budding-mining-coin-surpasses-4000000-milestone","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84781","title":{"rendered":"Is Immutable Going to Zero? IMX Price Takes a Dive as Budding Mining Coin Surpasses $4,000,000 Milestone"},"content":{"rendered":"
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Promising layer-2 scaling solution ImmutableX has once again entered minor localized retracement following the latest rally push, with IMX price trading high, and a new Bitcoin cloud mining cryptocurrency has exploded to $4m raised in presale.<\/p>\n

The sudden downtick in price action has left IMX holders reeling, with the retracement drop leaving IMX ranked amongst today\u2019s biggest losers on the market.<\/p>\n

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Top 5 Daily Losers on ONUS Pro \ud83d\udcc9 <\/p>\n

\ud83e\udd47 $STORJ<\/a> @storj<\/a>: \u2013 9,13%
\ud83e\udd48 $IMX<\/a> @Immutable<\/a>: \u2013 8,93%
\ud83e\udd49 $SUI<\/a> @SuiNetwork<\/a>: \u2013 8,62%
\ud83c\udfc5 $AGLD<\/a> @lootproject<\/a>: \u2013 7,42%
\ud83c\udfc5 $CORE<\/a> @Coredao_Org<\/a>: \u2013 6,5%#STORJ<\/a> #IMX<\/a> #SUI<\/a> #AGLD<\/a> #CORE<\/a> #Cryptocurency<\/a> pic.twitter.com\/D0W5Q7nmI1<\/a><\/p>\n

\u2014 ONUS Pro (@ONUSFutures) November 15, 2023<\/a><\/p>\n<\/blockquote>\n

Yet, with IMX stood at the top of an impressive month long rally, market sentiment remains bullish<\/a> as recognition of ImmutableX continues to grow.<\/p>\n

IMX Price Analysis: As ImmutableX Enters Minor Localized Retracement \u2013 Will IMX Rally Continue? Or is Immutable Going to Zero?<\/strong><\/h2>\n

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As IMX price fights to establish support high in the trading channel, ImmutableX is currently trading at a market price of $1.14 (representing a 24-hour change of +2.67%).<\/p>\n

This comes amid a minor localized retracement move, which has seen IMX price drop -13% as price attempts to stabilize above support at $1.10.<\/p>\n

The retracement was triggered by rejection from upper trendline resistance around $1.25, with IMX price now consolidating in poised position for a retest on the short-time frame.<\/p>\n

Recent rally movements were triggered on November 7, after the emergence of a golden cross between the 20DMA (currently sat at $0.87) and the 200DMA (currently sat at $0.69).<\/p>\n

With the 20DMA ascendant, the golden cross movement saw IMX blast up +60%, showing the bullish sentiment fuelling IMX momentum.<\/p>\n

This is reflected in bullish divergence on the MACD which is stood at 0.0277 as the momentum indicator continues to signal green.<\/p>\n

However, some concern emerges from the RSI which is showing severe bearish divergence at 76.41 \u2013 suggesting IMX price is overbought at these levels.<\/p>\n

Overall, this leaves IMX in healthy poise, with a strong and well-defended retracement high in the channel providing footing for an imminent retest with upper trendline support.<\/p>\n

This leaves IMX price with a short-time frame target of $1.30 (a potential +13.28%).<\/p>\n

While downside risk for IMX here could see price tumble to $1.01 (a possible -11.99%).<\/p>\n

IMX price therefore carries a risk: reward structure of 1.11 \u2013 a reasonable entry with decent breakout potential on the second resistance retest, and certainly not going to zero anytime soon.<\/p>\n

Meanwhile, as the Bitcoin narrative takes off ahead of the arrival of anticipated BTC spot ETFs and the April 2024 halving event, a new Bitcoin cloud mining presale is exploding on the promise of making Bitcoin mining accessible to all.<\/p>\n

IMX Price Retracement Alternative? Don\u2019t Sleep on Bitcoin Minetrix Presale As Almost $4M Raised<\/strong><\/h2>\n

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Dive into the innovative world of\u00a0Bitcoin Minetrix\u00a0and its pioneering stake-to-mine system \u2013 as the skyrocketing presale smashes +$3,983,836 raised.<\/p>\n

Offering an enticing 1224% Staking APY, Bitcoin Minetrix provides a platform where users can buy, stake, and then watch as the rewards start accumulating.<\/p>\n

The true essence of passive income in the crypto world has never been this accessible.<\/p>\n

<\/figure>\n

With the Bitcoin Minetrix approach, gone are the days of heavy initial capital and navigating complex mining contracts.<\/p>\n

Bitcoin Minetrix Smashes $3.98M Raised as Traders Rally Against Bitcoin Mining Centralization<\/strong><\/h2>\n

<\/span>
No longer the mainstay of basement ASICs, Bitcoin mining is now a\u00a0multi-billion dollar industry<\/u>, but with the success of Bitcoin mining centers comes the challenge of increased centralization.<\/p>\n

Indeed, with just two mining pools (Foundry USA and Antpool)\u00a0representing 57.5%<\/u>\u00a0of the Bitcoin network hashrate, mining centralization is desperately in need of modern solutions to ensure long-term network security.<\/p>\n

This is where the magic of Bitcoin Minetrix comes into play, with Bitcoin cloud mining offering the opportunity for everyday investors to claim their slice of the pie \u2013 while bolstering Bitcoin\u2019s network security.<\/p>\n

All interested parties have to do is\u00a0buy $BTCMTX tokens in presale<\/u>\u00a0and stake them to earn cloud mining credits, with Bitcoin Minetrix\u2019s automated system handling the heavy work.<\/p>\n

In effect, this means no more expensive barriers to entry, such as costly hardware requirements or complicated technical understandings \u2013 simply buy, stake, and earn to unlock the benefits of Bitcoin mining rewards.<\/p>\n

Key Highlights of the BTCMTX Advantage:<\/strong><\/h2>\n