Immutable X partnered with Nifty Gateway just a few hours in the past, however that hasn’t been sufficient to push IMX greater within the quick time period.
IMX, the native coin of the Immutable X community, is down by greater than 6% within the final 24 hours. The poor efficiency comes regardless of Immutable X saying a significant partnership.
The Immutable X crew introduced just a few hours in the past that it had partnered with Nifty Gateway, an all-in-one platform that empowers customers to purchase, promote, and retailer digital artwork and collectibles.
Welcome @niftygateway to the IMX household!
We’re partnering with Nifty Gateway to be the primary chain added outdoors of ETH to supply a premium and frictionless buying and selling expertise to the web3 gaming area #onIMX
Right here is to onboarding the subsequent billion individuals 🤝 pic.twitter.com/UMeLmiaoyA
— Immutable 🅧 – $IMX (@Immutable) October 18, 2022
This newest cryptocurrency information implies that Nifty Gateway is the primary chain added outdoors of Ethereum that gives a premium and frictionless buying and selling expertise to the web3 gaming area on the Immutable X community.
IMX’s poor efficiency additionally comes because the broader cryptocurrency market losses a number of the positive factors it had gathered earlier this week.
The broader market has misplaced greater than 1% of its worth in the present day, with the overall crypto market cap now at $925 billion.
Bitcoin is down by greater than 2% within the last2 4 hours and is now buying and selling at round $19,200 per coin.
Key ranges to observe
The IMX/USD 4-hour chart is bearish, as Immutable X has been underperforming during the last 24 hours.
The MACD line has been under the impartial zone for greater than a month now, indicating that the bears have been in management for some time.
The 14-day relative energy index of 30 exhibits that IMX may quickly enter the oversold area.
At press time, IMX is buying and selling at $0.594 per coin. If the bearish pattern continues, IMX may drop under the primary main assist stage at $0.5492 earlier than the top of the day.
With the broader market in a bearish state, IMX may file additional losses over the approaching hours and sure drop under the $0.515 assist stage for the primary time in months.
The place to purchase now
Huobi
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