IMX Weekly Analysis Jan 24

IMX closed the week with a 1.97% decline in a narrow range ($0.25-$0.26), maintaining its bearish trend structure; the attempt to hold at critical supports entered a risky accumulation phase test under BTC’s downtrend pressure.

IMX in the Weekly Market Summary

IMX stabilized at the $0.25 level last week, sustaining its bearish primary trend. The weekly change of -1.97% showed calm consolidation, but the $10.43M volume profile reflects low participation. RSI at 44.14 indicates neutral-bearish momentum, with MACD’s negative histogram reinforcing trend pressure. Price, unable to hold above EMA20 ($0.26), hit the $0.32 resistance filter. In the big picture, IMX as a laggard from altcoin rallies is under pressure from rising BTC dominance; for position traders, support tests will distinguish between trend reversal signals or distribution traps.

Trend Structure and Market Phases

Long-Term Trend Analysis

The long-term outlook is bearish; the higher low structure is broken on weekly and monthly timeframes, with price approaching the lower band of the main downtrend channel after a 70%+ drop from 2025 highs. Market structure remains intact with lower highs (well below $0.4344 target) and bearish EMA stacking. The trend filter gives a bearish signal, while $0.2462 support score (65/100) marks the first line of defense. In the macro cycle context, BTC’s downtrend supertrend keeps altcoins out of the system; IMX’s long-term recovery seems unlikely without BTC stabilization. From a portfolio management perspective, long positions are risky in this phase, with short bias dominant.

Accumulation/Distribution Analysis

The market phase shows accumulation characteristics with low-volume range, but the absence of bearish MACD and RSI divergence raises distribution risk. Volume profile has formed a POC (Point of Control) around $0.25, but buying pressure is weak. Accumulation phase features (stable support tests) are observed in the $0.2462-$0.2320 band, but with no strong resistance (score <60), upside capacity is limited. Distribution patterns emerging: weekly doji-like candles and BTC correlation—seller exhaustion or trap? For strategic depth, accumulation confirmation requires volume increase and RSI >50 condition.

Multi-Timeframe Confluence

Daily Chart View

On the daily chart, no bullish confluence with 3 strong supports (score >60); price maintains bearish structure below EMA20 ($0.26). $0.2462 daily low confluence (65/100), critical with double bottom potential at $0.2320. Momentum is bearish, but oversold approach (RSI 44) could trigger short-covering rally. For detailed IMX spot analysis, monitor daily data for range breakout.

Weekly Chart View

In the weekly perspective, 1S/2R breakdown: bearish channel lower band ($0.2150 score 65) confluence keeps downtrend intact. $0.4344 upside objective distant (score 31), $0.0680 downside risk (22) with asymmetric R/R bearish. Multi-TF 5 strong levels (1D:3S/0R, 3D:1S/2R, 1W:1S/2R) support-heavy, but high-TF resistances ($0.32+ implied) block upside. Confluence makes $0.2462 breach a trend acceleration signal.

Critical Decision Points

Main supports: $0.2462 (primary, 65/100 – breach confirms downtrend), $0.2320 (61/100 – double bottom), $0.2150 (65/100 – main channel). No resistance (no >60 score), implied at $0.26 EMA20 and $0.32 trend filter. Inflection point $0.2462: hold signals accumulation, break signals distribution. IMX futures market data critical for confirming these levels with volume increase. BTC $88,400 breach triggers cascade in IMX.

Weekly Strategy Recommendation

In Bullish Case

Bullish scenario: $0.2462 hold + volume spike > $15M with $0.26 EMA20 breakout. Target $0.32 (trend filter), extension $0.4344. Entry on $0.25 dips, stop below $0.2450. R/R 1:3+, BTC $91k+ confluence required. Position sizing 2-3% portfolio, trailing stop at EMA20.

In Bearish Case

Bearish scenario: short activate on $0.2462 close below, target $0.2320-$0.2150, extreme $0.0680. Entry on $0.2460 breach, stop above $0.25. R/R 1:4+, BTC $88k breach confirmation. Monitor correlation for IMX and other analyses; aggressive shorts 5% allocation.

Bitcoin Correlation

BTC at $89,782 in downtrend (24h +0.32% but supertrend bearish), suppressing IMX; altcoin caution mode. BTC key supports $88,400/$86,634 breach breaks IMX $0.2462, high cascade risk. Resistances $91,192+ breakout supports IMX accumulation. Rising dominance strengthens IMX short bias; longs risky without BTC stabilization. Position traders watch BTC $84k bottom as IMX downside trigger.

Conclusion: Key Points for Next Week

Next week focus: $0.2462 support test and BTC $88,400 movement. Volume >$15M + RSI rebound confirms accumulation, breach opens path to $0.2150. Trend intact as long as $0.2462 holds; adjust positions accordingly at this inflection. In the macro cycle, altcoin recovery tied to BTC leadership, cautious stance dominant.