Immutable [IMX] eyes $0.81 after 52% rally – But THIS hurdle looms

Key Points

1. IMX's market cap rose 14% to $1.1 billion, with its price reaching $0.62 after a 52% rally.

2. Key resistance levels are at $0.632 (triggered a 19% drop in late May) and $0.713 (previous breakout attempt failed).

3. Perpetual investors drove gains, with Open Interest up 26% to $46M and positive Funding Rates for four days.

4. Spot market investors sold $541K worth of IMX near $0.632, signaling potential short-term pullback risk.

5. A breakout above resistance could push IMX toward $0.816 or higher if bullish momentum persists.