The price of ImmutableX (IMX) has declined by 2.5% in the past 24 hours, despite Immutable announcing its participation in Amazon’s ISV Accelerate Program. IMX is currently priced at $0.517790, which marks a 9% decrease over the past week. Nevertheless, the altcoin has shown a 4% increase over the past month and a 34% gain since the beginning of the year.
Immutable’s inclusion in Amazon’s accelerator program allows the Ethereum-based Web3 gaming platform to gain privileged access to development leads, as well as support for deal closures and up to $100,000 in AWS cloud credits. This partnership can potentially lead to greater adoption for Immutable and an increase in demand for IMX, which may result in significant price rallies in the coming weeks.
ImmutableX Price Prediction as Amazon Web Services Adds Platform to List of Partners – Can IMX Reach $100?
Despite signs of weakness and overselling in IMX’s chart, there is potential for a major rebound, making it an opportune moment to purchase the token at a discounted price.
IMX’s relative strength index (RSI) has declined to 40 in the past couple of weeks, indicating a loss of momentum and increased selling pressure. Additionally, the coin’s 30-day exponential moving average remains below its 200-day average, suggesting excessive selling and undervaluation compared to previous price levels.
However, IMX’s support level indicates that it is unlikely to fall much further. It will be important to monitor whether it can stay above $0.515, as a breach of this level could lead to further losses.
Nevertheless, even if it falls below this level, any additional losses are expected to be brief. The partnership with Amazon highlights Immutable’s strong fundamentals and future growth potential.
Immutable has already experienced significant growth since its launch in late 2021, with over 100 games launched on its platform as of the beginning of 2023. The platform has also reached the milestone of 1.7 million active gamer wallets in August, demonstrating promising growth.
With the added support from the Amazon accelerator program, Immutable is expected to continue to grow and evolve in the coming months and years.
Based on these factors, IMX could potentially reach $1 by the end of the year, and a fully fledged bull market in 2024 could push it even higher to $5 or more.
Other Promising New Altcoins
In addition to IMX, there are several other interesting new altcoins in the market, including Bitcoin Minetrix (BTCMTX). BTCMTX is a tokenized cloud mining platform that recently launched its presale and has raised over $1 million in funding.
Bitcoin Minetrix aims to provide users with the opportunity to earn mined Bitcoin by staking the platform’s native BTCMTX token. This opens up Bitcoin mining to a wider pool of participants, as users who stake BTCMTX receive tokenized mining credits that can be used to purchase Bitcoin hashpower.
The presale of BTCMTX has received significant attention and confidence from investors. The token will have a total supply of 4 billion, with 1.4 billion allocated to the presale. It can be purchased on the official Bitcoin Minetrix website using crypto wallets such as MetaMask and Wallet Connect.
Currently priced at $0.011, BTCMTX’s price will increase to $0.01190 by the tenth and final stage of the presale. Once listed on exchanges, the coin has the potential for significant price rallies.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.