The IMX chart over the past 24 hours gives a clear signal: buyers are taking control. After a quiet period through the late evening, volume picked up sharply in the early morning. That surge in participation came alongside a strong upward move in price. The combination of rising volume and higher highs signals strength in this trend.
At the start of the session, IMX traded around $0.71 to $0.72. Volume was muted, holding near the $40M range. The chart shows sellers pressing the market lower into the night, with price dipping near $0.70. Yet each dip was met with steady buying interest. That created the base for the move that followed.
Around 5:00 AM, the tone shifted. Buyers stepped in with conviction, pushing volume from under $45M to over $60M in a matter of hours. Price broke through $0.74, $0.75, and $0.76 without stalling. By midday, IMX touched $0.77, holding gains even as some profit-taking appeared. When a market climbs on rising volume and then consolidates near its highs, it is a textbook sign of accumulation rather than distribution.
Higher Lows and Breakout Structure
One of the clearest signs of strength is the sequence of higher lows that formed after 1:00 AM. Each retracement stopped above the prior low, creating a stair-step pattern higher. That structure signals buyers are willing to enter the market at increasingly higher prices. Sellers, meanwhile, are unable to push price back down into the prior range. This is classic bullish price action.
The breakout at $0.74 was especially important. That level acted as resistance earlier in the day. When price cleared it with volume behind the move, the market confirmed a change in sentiment. Traders who were waiting for confirmation likely joined in, adding fuel to the rally.
Volume Confirms the Move
Price action without volume support can fade quickly. That is not the case here. The sharp rise in traded volume from under $40M to $65M confirms that demand is real. Buyers are not just pushing price with thin orders; they are committing capital at scale. The fact that volume expanded as price advanced shows conviction in the move.
The shaded volume area also reveals that the largest spike occurred right as price broke past resistance. This confirms the breakout was not a false move. It had real participation, which increases the likelihood of follow-through.
Short-Term Outlook
The immediate chart shows resistance near $0.77, where the rally paused. This is a natural profit-taking zone after a strong advance. The key to watch is whether IMX holds above $0.75 during this consolidation. If buyers defend that level, the market sets the stage for another leg higher.
Momentum favors that scenario. The lack of sharp pullbacks shows there is little supply overhead. Sellers who wanted out already had chances near $0.72 and $0.74. Now, with price holding steady near the highs, those same sellers may hesitate to re-enter. That gives buyers the advantage.
A measured move based on the breakout range suggests upside potential toward $0.80 in the near term. A decisive break above $0.77 with fresh volume could trigger that run quickly. Beyond $0.80, the next levels to watch sit near $0.83 and $0.85.
Medium-Term Setup
Zooming out, this 24-hour rally fits into a broader picture of strength. IMX had been trading in a sideways band for several days, building a base between $0.70 and $0.73. Breakouts from such bases often lead to sustained moves because they represent the release of built-up energy.
The price now rests above the midpoint of that prior range, and volume suggests strong participation. If the market sustains above $0.74, it confirms the breakout and turns that zone into new support. Traders often call this the “flip” of resistance into support, and it is one of the most reliable patterns in technical analysis.
As long as IMX trades above $0.74, the bias remains to the upside. A dip back to test that level would not be bearish; instead, it would offer a chance for new buyers to enter at a logical level. If the test holds, the market could stage another run toward $0.80 and higher.
Why the Setup Looks Bullish
The case for higher prices rests on three technical factors working together:
- Higher lows and rising structure – buyers show steady control.
- Breakout through resistance with volume – confirms demand.
- Strong close near the highs – signals accumulation, not distribution.
