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 brief 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 serious 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 house #onIMX
Right here is to onboarding the subsequent billion folks 🤝 pic.twitter.com/UMeLmiaoyA
— Immutable – $IMX (@Immutable) October 18, 2022
This latest cryptocurrency news implies that Nifty Gateway is the primary chain added outdoors of Ethereum that provides a premium and frictionless buying and selling expertise to the web3 gaming house on the Immutable X community.
IMX’s poor efficiency additionally comes because the broader cryptocurrency market losses a few of the positive factors it had accrued earlier this week.
The broader market has misplaced greater than 1% of its worth at present, with the entire 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 over the past 24 hours.
The MACD line has been beneath the impartial zone for greater than a month now, indicating that the bears have been in management for some time.
The 14-day relative power 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 development continues, IMX may drop beneath 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 document additional losses over the approaching hours and certain drop beneath the $0.515 assist stage for the primary time in months.
The place to purchase now
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