Whales Are Watching: Will $IMX Turn This Pump Into a Full-Blown Rally?

IMX has formed a falling wedge pattern on the daily chart with a target of $1. A whale went long on IMX, showing increasing bullish sentiment among traders. IMX price shot up more than 41% in the past day, reclaiming the 20-day EMA. Immutable (IMX), the scaling solution for NFTs on Ethereum, has caught the attention of whales and market participants following a massive 41.79% increase in price in the past 24 hours. This move pushed the $IMX token firmly past a $450 million market cap as it eyes further gains. Fueling the rally, on-chain data indicates substantial accumulation of IMX by large “whale” traders, coupled with a notable surge in large transaction volumes, sparking speculation about a sustained bullish rally. Whale Trades and Volume Spike Preceded Surge According to Whale Alert data, a top trader on the Hyperliquid platform, known for their profitability, recently initiated a long position of $19.54K in IMX at a price of $0.58. This trader’s current total long position stands at $19.51K with an average entry price of $0.58. A top trader by PnL on Hyperliquid just went long $19.54K of $IMX at $0.58 This user’s current position is long $1… The post Whales Are Watching: Will $IMX Turn This Pump Into a Full-Blown Rally? appeared first on Coin Edition .

Source: Coin Edition