Immutable (IMX) is on a slippery slope as of recently. The token appears to be going under significant selling pressure, as investors flee the IMX market in anticipation of a token unlock happening later this week.
The project will be unlocking 24.52 million IMX on June 12, or around US$12.67M (1.33% of M. Cap), that will be entering the circulating supply.
These fears are not unfounded. When more tokens enter the circulating supply, each unit becomes less scarce, potentially altering market dynamics and price stability.
Immutable has been running these periodic token unlocks for a while now. As part of its long-term token release strategy, Immutable has scheduled multiple unlock events throughout 2025.
Token Unlock Price Behavior
As of right now, $IMX trades at $0.5238, down by 4.78% over the last 24 hours. Overall, the token has been on a downward trend for the majority of the month. In the chart below, let’s look at how $IMX behaved during the token unlocks that took place since December 2024:
As we can see, these unlocking events tend to affect value, but aren’t the single bearish drive in IMX. So what does that mean?
As of right now, the asset is heading into a make-or-break zone. The current $0.51 resistance zone has been playing a role in neglecting bearish movements in IMX’s history since October of 2022. Every time the asset hit below that zone, price eventually moved back to above fifty cents:
This means that this selling pressure could provide an opportunity for short-term traders looking for a good entry point. Depending on how the market reacts to tomorrow’s unlock, investors may monitor key support levels, trading volume, and overall market sentiment to gauge whether IMX stabilizes or continues its downward trend.
If price action shows signs of consolidation above $0.51, we could see the asset testing zones like the $0.60 (16% increase from current price), and $0.71 (36% above current price).
What to Keep in Mind
RSI and MACD are both showing signs that sellers are exhausted. As $IMX ranges at the $0.51 zone, RSI has formed a higher low, potentially indicating that buyers will not go as far as ‘oversold’ levels.
Meanwhile, MACD also shows signs that bears are getting tired. While still trading under a bearish period, moving averages are tightening, suggesting that bearish momentum may be slowing down.
Depending on how volatile IMX behaves tomorrow, we could see a brief period of price stabilization before the next decisive move.
Potential Setup
- Confirmation – Consolidation above $0.51 support, with EMA-20 holding and RSI forming higher lows near 55–60.
- Target – First TP at $0.57, opening the door for a move toward $0.71.
- Invalidation – Close below $0.51 with increasing sell volume and RSI dropping under 45. Stop loss at $0.488.
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