IMX/USDT Breaking out the pattern this is Bullish Momentum !!

💎IMX has undeniably garnered significant attention in the market. Currently, IMX has successfully broken out of the descending channel pattern and is currently confronting a local resistance level.

💎 A potential scenario is that if the price manages to break out of this resistance level, it could continue its upward trajectory, with the probability of reaching our target in the bearish OB area.

💎 However, if IMX fails to break above the resistance level, there is potential for a downward movement, which could involve a retesting phase at the support area around 2.08 to establish new momentum.

💎 It's worth noting that there is a possibility of the price retracing to the demand area if the support area fails to provide a bounce and loses its significance. Historical data suggests that the demand area has exhibited strength in supporting the price during downward movements.

💎 Confirmation of a bearish trend would occur if IMX broke down below the demand area and fails to bounce when reaching the Bullish OB area, potentially leading to further downward movement.