Price Position and Structural State
Immutable X (IMX) closed at 0.1598 USDT on May 29, 2026, down 0.25%. The asset now sits in a sideways structure inside its 55-day range. Current 55-day support is near 0.13 USDT, with resistance near 0.213 USDT. Price is near the middle of the range, so the market has no clear structural edge until it closes outside these levels.
Moving Averages and Trend Context
IMX is trading below all key moving averages. MA100 at 0.162478 USDT stands as the first moving-average resistance area to watch. Price sits 5.79% below MA50, within its historical distance range of -58.50% to 85.12%. The moving-average structure is bearish without showing extreme downside extension.
Trading Friction and Price Efficiency
IMX shows high trading friction, with a 3-day friction score of 19.3. The score combines price progress, wick rejection, and volume confirmation. Recent candles show contested movement, with weak price progress or heavier wick rejection. In this condition, moves near support or resistance carry less weight until price closes more cleanly.
Open Interest, Funding, and Positioning
Open interest increased +1.25% in one day but remains near the lower side of its 180-day range. This shows participation is improving from a low leverage base.
Funding is near neutral across the 24-hour and 7-day averages, at -0.000919% and +0.000600%. This shows limited cost pressure on either side, so funding is not giving a strong directional signal right now.
The long/short ratio is 1.19, showing near balance between long and short accounts. It sits near the middle of its 60-day range, so account-side positioning looks balanced.
Correlation, Beta, and Index Relationship
IMX remains strongly linked to the broader crypto market (Sigloid Index), with beta indicating higher sensitivity to index movements. Correlation confirms that IMX moves in line with the index, while R² shows that index behavior explains a significant share of its movement. Elevated beta means price tends to amplify broader market moves rather than simply track them. Over the 30-day window, the relationship is stable. Over the 60-day window, the relationship is stable. Over the 180-day window, the relationship is stable.
| Window | Correlation | Beta | R² | Read |
|---|---|---|---|---|
| 30D | 0.794 | 1.775 | 0.63 | Strong, high beta |
| 60D | 0.792 | 1.546 | 0.627 | Strong, high beta |
| 180D | 0.801 | 1.196 | 0.641 | Strong linkage |
Momentum, Volatility, and Indicator Pressure
IMX is moving more day to day, but participation remains weak. ATR% reads 7.08, near the lower side of its full historical range, while Bollinger Band width% reads 26.48, near the lower side of its full historical range. 20-day Volume Z-score is -0.53.
Momentum is weaker. RSI is 41.91, ROC14 is -13.67%, and MACD histogram is negative. These readings point in the same direction: downside pressure is active, while recovery pressure remains limited.
The read is cautious: downside momentum is active, but volatility and participation do not confirm a strong break yet.
Broader Market Regime
The Sigloid Index remains in a sideways regime, showing no clear broad market direction. IMX stays closely linked to that market condition, so changes in market sentiment can still influence price behavior even when the broader trend is unclear.
Key Levels for the Next State Change
For IMX, the next structural shift depends on range boundaries. A daily close above 55-day resistance at 0.213 USDT establishes a bullish regime, while a daily close below 55-day support at 0.13 USDT confirms a bearish regime.