Immutable's native token IMX

Immutable’s native token IMX (IMX) has emerged as one of the best performers for today, surging nearly 12% in the past day.

On-chain data from Santiment reveals that the long/short ratio for IMX has tipped in favor of longs at 1.004. This signals that the majority of market participants are positioning for further upside.

Moreover, positive divergence between price and daily active addresses (DAA), currently at 63.22%, also suggests that user engagement is rising with price.

According to CoinMarketCap, IMX’s trading volume has skyrocketed by 300% in the last 24 hours. Its market cap also saw a major jump, climbing 11% to touch $1.16 billion.

The renewed interest in IMX coincides with a broader recovery trend in the crypto market, where investor appetite appears to be slowly returning, especially for projects with real-world use cases, such as Immutable’s gaming-focused ecosystem.

IMX Price Outlook

The IMX daily chart shows an inverse head and shoulders pattern, with the head near $0.45 and shoulders around $0.50-$0.52. The neckline breakout at $0.60 confirms bullish reversal.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75-$0.80, based on prior resistance from February’s breakdown.

If momentum holds, the pattern projects a target of $0.75