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 nearly 15% in past two days. It hit a high of $1.6945 and currently trading around $1.6340. 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 $1.85, any indicative breach above will take the pair to $2.15/$2.60/$3. On the lower side, immediate support is $1.40, and any violation below target is $1./$0.80.

Indicators ( Daily chart)

CCI(50)- Neutral

Directional movement index - Bearish

It is good to buy on dips around $1.50 with SL around $1 for TP of $3.