IMX price prediction — Is $0.30 next on the cards?

Immutable (IMX) extended its bullish recovery by recording gains worth 10% over the last 24 hours. These daily gains came just two days after it bounced from a key EMA support near $0.16.

On the daily charts, the token soon stabilized above $0.20, strengthening the case for a potential move towards the $0.30-resistance level. The network’s rising price volatility and a shift to positive funding rates all hinted at renewed activity in the derivatives market too.

Hence, the question: Can buyers sustain the recovery and push IMX towards $0.30 or will rising volatility trigger another reversal?

Volatility, Funding Rates signal renewed activity

Besides the positive technicals , IMX’s market activity has been picking up too. The sharp hike in price volatility to 0.04 over the same period suggested that network’s traders and investors may be reacting more aggressively to changing market conditions.

While higher volatility can accompany strong breakouts as seen during previous episodes, this time it could also increase the risk of sudden price swings.

Meanwhile, IMX’s funding rate also recorded a week of positive gains.

This further indicated that long-position holders have been paying shorts to maintain their perpetual futures exposure.