Amid ongoing market volatility, the altcoin leader, Ethereum's price has reclaimed the $2,650 level with a jump of 2.11% in the past day
As the crypto market continues to experience price volatility, several altcoins have shown promising price movements. Here's a closer look at the price action of IMX, Optimism (OP) and Ondo (ONDO) in the past 24 hours with their technical analysis to gauge their potential for the upcoming AltSeason.
ImmutableX (IMX) Price Analysis
The IMX price has seen a 5.39% rise in the past 24 hours, with a trading volume of $34.240 million. The technical analysis of the ImmutableX price on the 1D chart suggests that the altcoin is on the cusp of breaking out of the resistance trend of the falling wedge pattern.
The SMA indicator has displayed a bullish convergence in the 1D time frame. Notably, the MACD has recorded a constant uptrend with its averages experiencing a positive action. This suggests that the ImmutableX price will continue gaining value in the coming time.
If the bulls break out of the resistance trend, the IMX price will prepare to test its upper resistance level of $1.925. Conversely, if the bears regain momentum, this altcoin will retest its low of $1 this month.
Optimism (OP) Price Analysis
The OP price is up 6.37% in the past 24 hours and 9.37% in the past week. Moreover, the altcoin is on the verge of testing the resistance trendline of the triangle pattern, indicating increasing bullish sentiment for Optimism in the crypto space.
The technical indicator, RSI has displayed a sharp rise toward the midpoint with its average trend line recording a bullish curve. However, since then, it has displayed a flatline, suggesting uncertainty in future price action.
Maintaining a bullish sentiment could result in the Optimism price heading toward its upper high of $2.025 this month. However, a bearish action could pull the OP price toward its crucial support level of $1.060.
Ondo (ONDO) Price Analysis
The ONDO price has dropped by around 40% in the past 30 days. However, in the past 24 hours, the altcoin has regained momentum and added over 6% to its portfolio. Moreover, with a market capitalization of $986.45 million, it secures the 66th position in the global crypto list.
The MACD has recorded a constant green histogram, in the 1D time frame. Furthermore, the averages have experienced a bullish convergence, highlighting a positive outlook for the ONDO price during the upcoming time.
If the market holds the Ondo price above its support level of $0.6970. The bulls will regain momentum and prepare to test its resistance level of $0.9845. Negatively, if the bears dominate the crypto space, the altcoin will retest its low of $0.44390.
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