The cryptocurrency market has misplaced practically $100 billion over the previous 24 hours, with quite a few cash and tokens buying and selling in the pink zone.
The cryptocurrency market has been in a bearish development for the previous few months, and issues took one other unfavorable flip this week. The whole cryptocurrency market cap has dropped under $900 billion, down by more than $2.2 trillion from the all-time excessive attained in November 2021.
At press time, the whole market cap stands under the $900 billion area. Bitcoin and the different main cryptocurrencies have recorded large losses over the previous few days.
Bitcoin is buying and selling simply above the $21k assist stage, whereas Ether dangers dropping under $1,000 if the bearish development continues.
IMX, the native token of the Immutable X ecosystem, is down by more than 6% over the last 24 hours. This newest growth comes regardless of Immutable X saying a serious partnership settlement with TurnerSportsPR.
TurnerSportsPR is a number one sports activities information model and homes platforms similar to Bleacher Report, TNT and TBS.
Per the phrases of the settlement, Immutable X will work with TurnerSportsPR to construct blockchain video games for premier sports activities, powered by StarkWare.
We’re coming into right into a strategic partnership w/ @TurnerSportsPR to construct blockchain video games for premier sports activities, powered by StarkWare
Turner Sports, residence to Bleacher Report, TNT, TBS, have been innovating in web3 gaming since 2017 & we’re delighted to have them innovating on IMX L2. pic.twitter.com/ilmHd1MNmA
— Immutable | $IMX ⓧ (@Immutable) June 14, 2022
Key ranges to observe
The IMX/USD 4-hour chart is very bearish at the second as Immutable X has recorded big losses in the last few days.
The MACD line is under the impartial zone, indicating bearish momentum. The 14-day RSI of 36 reveals that IMX might quickly enter the oversold area.
At press time, Immutable X is buying and selling at $0.68 per coin. If the bearish development continues, IMX might drop under the $0.55 resistance stage over the subsequent few hours.
Unless there is a large selloff, IMX ought to keep above the $0.50 psychological stage in the close to time period.
