Price Position and Structural State
Immutable X (IMX) closed at 0.128 USDT on August 28, 2026, down 1.92%. The asset now sits in a sideways structure inside its 55-day range. Current 55-day support is near 0.0943 USDT, with resistance near 0.1571 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 above short-term moving averages but remains below longer-term resistance. MA9 at 0.126433 USDT can act as near-term support for the recovery attempt, while MA100 at 0.130934 USDT is the key level to reclaim for a broader trend shift. Short-term structure has improved, but longer-term moving averages still show overhead resistance.
Trading Friction and Price Efficiency
IMX shows high trading friction, with a 3-day friction score of 21.1. 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 +2.31% in one day and remains near the upper side of its 90-day range. This shows leverage is elevated and still building.
Funding is positive on the 24-hour average at +0.005000%, with the 7-day average also positive at +0.005000%. This shows sustained long-side cost pressure across both short and medium windows.
The long/short ratio is 1.38, showing more long accounts than short accounts. It sits near the middle of its 60-day range, so this is a long tilt without clear historical crowding.
Correlation, Beta, and Index Relationship
IMX shows a moderate relationship with the broader crypto market (Sigloid Index). Correlation indicates partial co-movement with the index, while R² suggests that index behavior explains only part of its movement. This means broader market direction has some influence, but asset-specific factors remain important. Over the 30-day window, the relationship is weakening. Over the 60-day window, the relationship is stable. Over the 180-day window, the relationship is stable.
| Window | Correlation | Beta | R² | Read |
|---|---|---|---|---|
| 30D | 0.552 | 0.734 | 0.304 | Moderate linkage |
| 60D | 0.559 | 0.851 | 0.312 | Moderate linkage |
| 180D | 0.68 | 1.023 | 0.462 | Strong linkage |
Momentum, Volatility, and Indicator Pressure
IMX is showing wider movement, but participation is not fully backing it. ATR% reads 7.09, near the lower side of its full historical range, while Bollinger Band width% reads 37.16, close to the top of its 180-day range. 20-day Volume Z-score is -0.36, showing near-normal participation.
Momentum is stronger. RSI is 60.03, ROC14 is +18.08%, and MACD histogram is positive. These readings point in the same direction: upside pressure is active across momentum and multi-day acceleration.
The read is still incomplete: momentum is improving, but volatility or participation has not confirmed the move strongly enough.
Broader Market Regime
The Sigloid Index remains in a bullish regime, showing broad strength across the market. IMX has a moderate link to that market condition, so market strength can still influence price behavior, while asset specific factors also matter.
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 0.1571 USDT establishes a bullish regime, while a daily close below 55-day support at 0.0943 USDT confirms a bearish regime.