In the cryptocurrency market today, gaming tokens are back in the spotlight, with Immutable (IMX) drawing increased attention. The overall gaming narrative market cap has climbed by 2.99%, while trading volume has jumped a notable 9.57% over the past 24 hours.
Riding this momentum, IMX is up nearly 7% on the day. More importantly, the higher-timeframe chart is beginning to reveal a larger technical structure that could be setting the stage for a meaningful upside move in the weeks ahead.
Weekly Chart Signals a Bullish Move
From a technical perspective, the weekly IMX chart suggests the formation of a classic Power of 3 (PO3) structure—a pattern often seen near major market bottoms and trend transitions. This setup typically unfolds in three phases: accumulation, manipulation, and expansion, with the strongest price move usually emerging once the expansion phase begins.
Accumulation Phase
Between February and November 2025, IMX spent an extended period consolidating within a clearly defined range. Price action remained capped near the $0.815 resistance zone, while buyers consistently defended the $0.35 support area. This prolonged sideways movement reflects steady accumulation, where long-term participants quietly build positions while volatility remains compressed.
Manipulation Phase
During the broader market downturn in November 2025, IMX broke decisively below the $0.35 accumulation support, sliding toward a local low around $0.2031. This sharp breakdown, highlighted on the chart by the lower shaded zone, aligns well with the manipulation phase of the Power of 3 pattern.
At this stage, stop losses are triggered, sentiment turns bearish, and weaker hands are forced out of the market. Notably, selling pressure has started to fade near this region, with IMX now trading around $0.2928—an early sign that downside momentum may be losing steam.
What Comes Next for IMX?
Currently, IMX remains in the lower portion of the manipulation phase, trading just below the crucial $0.35 level. This zone is particularly important, as it previously acted as strong accumulation support and now serves as a key decision area.
For bullish momentum to gain credibility, IMX must first reclaim $0.35 and then push above the 50-week moving average, which sits near $0.5277. A sustained move above these levels would strongly suggest a transition into the expansion phase of the Power of 3 structure, where upside momentum typically accelerates.
If price manages to break and hold above the $0.815 resistance, the longer-term chart projection opens the door toward the $1.42 region in the coming months—a level that aligns with prior structural targets on the weekly timeframe.
That said, the setup remains conditional. As long as IMX trades below $0.35, downside risks cannot be completely ruled out, and price may continue to experience volatility. Holding current lows and reclaiming key resistance zones will be critical for bulls to confirm a broader trend reversal.
Bottom Line
While Immutable (IMX) has already posted a strong short-term bounce, the bigger story lies in its higher-timeframe structure. The ongoing stabilization near cycle lows, combined with a developing Power of 3 pattern, suggests that IMX could be preparing for a larger move—provided key levels are reclaimed. For now, patience is warranted, but the chart hints that the worst of the downside may already be behind.