IMX is down by more than 6% in the last 24 hours

    The cryptocurrency market has misplaced practically $100 billion over the previous 24 hours, with quite a few cash and tokens buying and selling in the purple zone.  

    The cryptocurrency market has been in a bearish pattern for the previous few months, and issues took one other adverse flip this week. The complete cryptocurrency market cap has dropped under $900 billion, down by more than $2.2 trillion from the all-time excessive attained in November 2021. 

    At press time, the complete market cap stands under the $900 billion area. Bitcoin and the different main cryptocurrencies have recorded large losses over the previous few days.

    Bitcoin is buying and selling simply above the $21k help degree, whereas Ether dangers dropping under $1,000 if the bearish pattern continues. 

    IMX, the native token of the Immutable X ecosystem, is down by more than 6% over the last 24 hours. This newest growth comes regardless of Immutable X asserting a significant partnership settlement with TurnerSportsPR.

    TurnerSportsPR is a number one sports activities information model and homes platforms akin to Bleacher Report, TNT and TBS. 

    Per the phrases of the settlement, Immutable X will work with TurnerSportsPR to construct blockchain video games for premier sports activities, powered by StarkWare.

    Key ranges to observe

    The IMX/USD 4-hour chart is very bearish at the second as Immutable X has recorded big losses in the last few days. 

    The MACD line is under the impartial zone, indicating bearish momentum. The 14-day RSI of 36 reveals that IMX might quickly enter the oversold area.

    At press time, Immutable X is buying and selling at $0.68 per coin. If the bearish pattern continues, IMX might drop under the $0.55 resistance degree over the subsequent few hours.

    Unless there is an enormous selloff, IMX ought to keep above the $0.50 psychological degree in the close to time period.

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