FxWirePro- IMXUSD(Chart of the day)

Immutable X is the first layer-two (L2) scaling solution for non-fungible tokens (NFTs) on Ethereum, with instant trading, massive scalability, and zero gas fees for minting and trading, all without compromising user or asset security.

Main features of Immutable X -

It does not impose gas fees for transactions carried out on this platform.

It supports ERC-20 and ERC-721  tokens.

It is a platform  that provides  layer 2 solutions on the Ethereum

IMXUSD prices surged more than 80% in the past two weeks. It hit a high of $3.05 and currently trading around $2.914. The pair is holding well above the short-term (21 and 55-day EMA) and long-term moving average (200-day EMA).

The near-term resistance is around $3.20, any indicative breach above will take the pair to $3.50/$4.05. On the lower side, immediate support is $2.40, and any violation below target is $2/$1.70/$1.28.

Indicators ( Daily chart)

CCI(50)- Bullish

Directional movement index - Bullish

It is good to buy on dips around $2.40 with SL around $1.70 for TP of $5.