Technical analysis by ULYSSESTRADER about Symbol IMX: Sell recommendation (10/16/2025)

1. Chart Context Pair: IMX/USDT Timeframe: 1h Current Price: ≈ 0.551 USDT Market sentiment: Price recently failed to create new highs and is now retesting a resistance zone. 2. Trade Setup The highlighted red/green zone represents the short trade idea: Entry Zone: Around 0.551 USDT (current price at resistance). Stop Loss (SL): 0.578 USDT (top of the red box). If price goes above this, the short idea is invalidated. Take Profit (TP): 0.492 USDT (bottom of the green box). Targeting a drop back into support. 3. Risk/Reward Ratio Risk (SL distance): ~0.027 USDT Reward (TP distance): ~0.059 USDT R:R ratio ≈ 2.18:1 This is a favorable setup, offering more than 2x reward compared to risk. 4. Support & Resistance Resistance Zone: 0.55 – 0.57 (price rejected here earlier). Support Zone: Around 0.49 – 0.52 (highlighted in the green zone). The trader expects sellers to step in at resistance and push price back down toward support. ✅ In summary: This is a short position on IMX/USDT where the trader enters at ~0.55, places a stop loss at 0.578, and aims for 0.492. The risk/reward is strong (≈2:1), based on the idea that resistance will hold and price will drop back into the support zone.