Technical analysis by Kat-Crypto-Street1 about Symbol IMX: Buy recommendation (7/21/2024)

IMXUSDT has recently broken through a key resistance zone on the 4-hour chart, closing above it after multiple attempts. The current price is trading above both the 100 and 200 EMAs, indicating a potential strong bullish trend. Consider entering at $1.66, with a stop loss at 1.46 to manage risk effectively. Given the prevailing bullish sentiment, we anticipate higher price levels. The initial targets are set at $2.00 and $2.30, with an ultimate target of $2.58. Monitor the market closely and adjust your trades as needed.