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Key takeaways
Polygon Labs has partnered with Immutable X to launch the Immutable zkEVM.
IMX is down by 12% at this time regardless of the strategic partnership introduced between Polygon Labs and Immutable X.
The broader crypto market is underperforming after a wonderful rally yesterday.
Polygon Labs and Immutable X announce a strategic partnership
Polygon Labs introduced in a weblog submit on Monday that it has partnered with Immutable X to launch the Immutable zkEVM.
Polygon Labs added that constructing on Immutable zkEVM with the Immutable Platform would make creating Web3-enabled video games quicker, simpler and fewer dangerous for big recreation studios and unbiased builders alike.
Regardless of this newest cryptocurrency information, IMX, the native token of the Immutable X ecosystem, has been underperforming over the previous few hours. IMX is down by 12% within the final 24 hours and will drop decrease if the development continues.
At press time, the value of Immutable X stands at $1.276 and will commerce decrease because the broader market retreats. The whole cryptocurrency market cap now stands at $1.16 trillion, down by greater than 1% at this time.
Bitcoin and the opposite main cryptocurrencies have additionally been underperforming, with Bitcoin now buying and selling beneath the $28k stage.
Key ranges to observe
The IMX/USD 4-hour chart is presently bearish, as Immutable X has been underperforming over the previous few hours. The technical indicators present that IMX is shedding among the income it generated over the previous few days.
The MACD line continues to be above the impartial zone however is heading into the damaging area, indicating that the market is popping bearish. The 14-day RSI of 43 additionally reveals that IMX is near the oversold area if the bearish development continues.
If the bears stay in management, IMX may drop beneath the primary main assist stage at $0.800 over the subsequent few hours or days. Nevertheless, until there’s a huge decline in costs, IMX ought to comfortably defend its worth above the second main resistance stage at $0.700.
The place to purchase Immutable X now
Huobi
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