ImmutableX Hits Eight-Month High with Strong Rally
ImmutableX (IMX) rose 10% on Friday, reaching its highest level in eight months. This marks the fourth day of continuous gains. The price has moved above the 50% retracement level of $0.868, based on the range from December 4’s high of $2.25 to June 22’s low of $0.335. The next resistance is at the 61.8% Fibonacci level of $1.087.
If IMX breaks this level, it could climb further to the 78.6% Fibonacci retracement at $1.497. A recent Golden Cross occurred when the 50-day EMA crossed above the 100-day EMA, signaling strong short-term growth. The RSI is in the overbought zone at 83, and the MACD shows a strong upward trend.
However, if IMX falls below $0.868, it may pull back to the 200-day EMA at $0.656.
Near Protocol Breaks Resistance, Eyes $3.845 Target
Near Protocol (NEAR) continues its steady rise, breaking above the 200-day EMA at $2.861 and a local resistance trendline. On Friday, NEAR gained over 1%, adding to a 12% increase from the previous day. The next target is the 50% retracement level at $3.845, offering nearly 20% upside potential.
Technical indicators support this bullish trend. The RSI is at 72, entering the overbought zone, and the MACD remains positive. If NEAR falls below the 200-day EMA, the breakout could fail, possibly leading to a drop toward the 50-day EMA at $2.642.
Avalanche Gains Momentum After PayPal’s PYUSD Integration
Avalanche (AVAX) rose 1% on Friday, continuing a four-day rally. This follows the integration of PayPal’s USD stablecoin, PYUSD, on the Avalanche blockchain. The move is expected to boost Avalanche’s user base and liquidity, increasing demand for AVAX.
The price has surpassed the 61.8% Fibonacci retracement level at $33.48, based on the range from December 4’s high of $55.79 to April 7’s low of $14.66. The next resistance is the 78.6% Fibonacci level at $41.91.
The RSI is in the overbought zone at 79, and the MACD shows a strong upward trend. If AVAX falls below $33.48, it could decline to the 50% retracement level at $28.60.
