✴️ Immutable X Above Support = Bullish Setup

Let's have a look at some Altcoins that have the potential to print a new leg up.

We start with Immutable X (IMXUSD).

The big blue dashed line is the main support, mid-May's low.
The cup pattern in yellow is the lower low and potential bottom of the latest correction.

As IMXUSD is back above its May low, this is a strong bullish signal, backed up by prices trading above EMA50/21/10, bullish MACD and RSI.

There is potential for a correction, like in Bitcoin and big Altcoins that can last a few days... Do not be scared, corrections are normal and should be ignored in favor of the bigger picture.

Corrections and retraces can be used as an opportunity to buy-in, rebuy and reload.

The short-term target is set at 60%.
The higher high potential can be 200%.

I don't want to compress the chart but you can scroll it up to see the higher target or check the numbers on the green bar with the 200%, it shows the price.

Let's move to the next one...

Namaste.

Comment:

This is looking really good... After a long period of consolidation this pair is ready for a big bullish explosion.