Technical analysis by MyCryptoParadise_Simon about Symbol IMX: Buy recommendation (10/4/2024)

Yello, Paradisers! Is IMX heading for a breakdown, or will it stage a powerful recovery? Let's dive into what’s happening and the key levels to watch.💎IMX is losing momentum after facing a sharp rejection at the crucial $1.83 resistance. Currently, the price seems poised to retest the demand zone around $1.35 as it attempts to gather new momentum. If IMX bounces off this demand area and manages to break through the $1.83 resistance again, we could see a strong upward push back into a bullish structure, increasing the likelihood of reaching our target area. 💎However, if the price fails to hold above the $1.35 - $1.20 demand zone and breaks below, it could trigger a downward spiral toward the $1.03 - $0.90 support zone. This support area still looks relatively fresh and could potentially attract buyers, leading to a significant rebound if respected.💎But if IMX breaks below $0.90 without showing signs of strength, this would indicate a bearish scenario, paving the way for an even deeper correction. Stay vigilant, and as always, trade wisely! MyCryptoParadiseiFeel the success🌴