Immutable (IMX) tops $0.70 as coin pumps 12%; Check forecast

Key takeaways

  • IMX is the best performer among the top 100 cryptocurrencies by market cap, up 12% in 24 hours.
  • The coin could target the $0.808 resistance level soon.  

IMX rally as on-chain activity increases

IMX, the native coin of the Immutable ecosystem, is the best performer among the top 100 cryptocurrencies by market cap in the last 24 hours. The coin rallied by more than 12% and has now surpassed the $0.70 mark.

The positive performance comes amid growing on-chain activity. IMX’s 24-hour turnover ratio is around 6.2%, indicating growing trading activity within the immutable ecosystem. On-chain data shows that a whale purchased 4.55 million IMX tokens, about $3.2 million worth, on September 13.

This transaction caused a 23% jump in large transactions and has been the primary catalyst behind IMX’s ongoing rally. 

IMX eyes the $0.808 resistance level

The IMX/USD 4-hour chart is bullish but inefficient, thanks to Immutable’s sudden rally over the last 24 hours. The inefficiency could see IMX dip lower to grab liquidity before continuing its rally.

The RSI of 64 shows that buyers are firmly in control, with the MACD lines also deep within the bullish territory. If the rally continues, IMX could hit the next major resistance level at $0.808 over the next few hours or days. An extended bullish run would allow IMX to hit the $1 mark for the first time since January.

IMX/USD 4H Chart

However, the inefficiency could see IMX undergo a correction. If that happens, IMX could decline to the $0.660 level over the next few hours. The major support and TLQ level at $0.58 would likely hold unless the broader crypto market records a massive loss. 

The onchain activity supports a continued rally for IMX, with upcoming macroeconomic events likely to play a role in how the coin performs over the next few days.

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Bitcoin price prediction: BTC recovers above $115k as $116k resistance holds

Key takeaways

  • BTC targets the $120k resistance ahead of FOMC.
  • The $116k resistance presents a hurdle to traders despite bullish price action. 

BTC is still trading below the $116k resistance

The crypto market opened the new week bearish but is now on its path to recovery as Bitcoin and other major cryptocurrencies are recording gains. Bitcoin dropped to the $114k level on Monday, with altcoins recording bigger losses.

However, BTC has slightly recovered and is now trading above $115k, with the $116k resistance still in play. The stagnated price action comes ahead of a crucial FOMC meeting tomorrow.

Analysts are expecting a rate cut of at least 25 basis points, with some predicting a 50 basis point cut. Polymarket odds of this cut have jumped to over 90%, while the CME Fed Monitor tool has the probability at 95%. A Fed rate cut will favour cryptocurrencies such as Bitcoin, with the leading cryptocurrency likely to target its all-time high price once again.

BTC eyes $120k ahead of FOMC

The BTC/USD 4-hour chart remains bullish and efficient despite Monday’s dip. The technical indicators have improved over the last few hours, with all eyes now on tomorrow’s expected Fed rate cut.

BTC/USD4H Chart

The RSI of 55 shows that buyers are still in control, with the MACD lines also within the bullish territory. If the $116k resistance level is surpassed, BTC could quickly rally towards the $120k psychological level over the next few hours or days. An extended bullish run would allow it to target the all-time high price above $125k.

However, failure to surpass the $116k resistance level could see BTC face further correction to the downside. This could see the cryptocurrency retest the TLQ and support level at $113,479. This support level will likely hold as the next support level is around $110.

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Avalanche price: AVAX holds $30 level as bulls target channel breakout

  • Avalanche (AVAX) price is in the green on Tuesday morning, with bulls hovering above the critical level of $30.
  • Most cryptocurrencies trade at key levels amid the broader market’s anticipation around the Federal Reserve’s meeting and interest rate decision.
  • Institutional interest also continues to grow, with Bitwise filing for an Avalanche spot exchange-traded fund with the US Securities and Exchange Commission.

Avalanche price eyes breakout above $30

While small-cap tokens like Avantis skyrocket to lead top gainers on the day, the Avalanche (AVAX) price hovers green. It currently trades as one of the top gainers among the top 20 cryptocurrencies.

The altcoin traded around $30.50 as of writing on September 16, up 7% in the past 24 hours and an impressive +18% over the last seven days.

It’s a performance that outpaces the global cryptocurrency market’s 1% gain and sees bulls close to the resistance line of a channel breakout.

Trading volume has spiked to $1.18 billion, up by more than 27% in the last day to signal buying pressure.

Avalanche price chart by TradingView

From a technical point of view, chart patterns suggest that AVAX is on the cusp of a significant channel breakout.

While the token has largely consolidated within a descending parallel channel, a recent uptick has bulls looking at a potential corrective pattern that could allow for a retest of $44.

Avalanche has notably breached the critical $27 horizontal resistance level. Holding above this level and piercing the $30 barrier may allow bulls to break above the channel’s upper boundary.

The Relative Strength Index (RSI) at 64 indicates room for gains before overbought conditions hit. A bullish outlook is also supported by the Moving Average Convergence/Divergence (MACD) on the daily chart.

Overall, the chart structure positions AVAX favorably for a move above $30, potentially fueled by ecosystem expansions and DeFi growth.

Bitwise AVAX ETF filing and Fed decision

Compounding the technical optimism are recent regulatory and macroeconomic trends.

One of these is the development that saw Bitwise Asset Management file an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a spot Avalanche ETF.

This filing, following the establishment of a statutory trust in Delaware, proposes direct exposure to AVAX through custody-held tokens, allowing investors to gain regulated access without managing wallets or private keys.

VanEck and Grayscale are among the top issuers seeking approval for ETFs tracking the AVAX cryptocurrency. Sentiment is high amid anticipation of an SEC nod in the coming months.

Also buoying AVAX price is expectation around the Federal Reserve’s upcoming decision on interest rates.

The Fed meets this week and a 25 basis point cut could inject fresh liquidity into risk assets like cryptocurrencies. Avalanche’s price will rally alongside other altcoins.

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Bitcoin tests $116K resistance ahead of Fed decision; new token launches stir market

  • Bitcoin stalls near $116K as Fed’s policy decision draws focus.
  • Major altcoins trade sideways amid low volumes and uncertainty.
  • Velora (VLR) and Project Merlin (MRLN) set to redefine DeFi ecosystems.

Bitcoin is once again testing the nerves of crypto market participants as its price hovers near $1,16,000, battling a stubborn resistance just as the global spotlight turns to the US Federal Reserve’s mid-September policy meeting.

In the early hours of September 16, Bitcoin traded at $1,15,200, trimming modest overnight gains amid lower trading volumes and a cautious risk mood.

The benchmark cryptocurrency’s market cap stands at a robust $2.29 trillion, with 24-hour volumes just over $52 billion, evidence that, while enthusiasm has tempered, the appetite for digital gold remains very much alive.

The shadow of the Fed’s upcoming decision has left broader markets listless, and crypto is no exception. Investors remain on high alert for clues around possible rate adjustments after a string of resilient US inflation data.

Any shift in policy or surprise rhetoric could produce short, sharp moves across all risk assets, with Bitcoin particularly sensitive given its recent struggle to clear the $1,16,000 threshold.

Bullish momentum still elusive

Ethereum, the second-largest digital asset by market cap, followed suit, changing hands at $4,522.

Ether has struggled to regain bullish momentum since its recent spike to $4,609 and is now trading in a narrow band with tepid demand from larger holders.

Despite a record high in stablecoin activity on its chain last week, ETH appears tethered to macro narratives, quietly mirroring Bitcoin’s cautious trajectory.

XRP, meanwhile, steadied at $2.99 after pulling back from recent local highs.

Recent treasury movements from notable digital asset management firms have steadied sentiment but haven’t sparked breakout momentum, as regulatory debates around the token continue to play out in key jurisdictions.

Solana is also in the spotlight, with its price down slightly to $233.67 following last week’s rally.

The token, known for its fast and low-cost transaction capabilities, has seen volatility creep back in, as short-term traders wade in to capture swings on the back of the broader market’s uncertainty.

Technical analysts note the next major support levels sit close to $220, underscoring the need for positive catalysts to maintain current valuations.

Dogecoin, always the wildcard, is trading at $0.2677 after a 24-hour spell that saw the meme coin flirt with both $0.26 support and $0.28 resistance.

While DOGE’s narrative is often ruled by social media and celebrity hype, the current environment has left even seasoned “shibes” trading cautiously, awaiting clearer signals from both the Fed and broader risk markets.

With key resistance levels drawing closer across major coins, market eyes will remain glued to the outcome of the Fed meeting.

Until then, expect crypto prices to oscillate around their current bands, with Bitcoin eyeing that crucial $1,16,000 break as the catalyst for renewed bullish conviction or yet another test of market resolve.

New launches fuel crypto buzz

Several major crypto launches and ecosystem upgrades are about to shake up the market, promising to unleash a new spark of trading action.

On Tuesday, all eyes are on Velora (VLR) and Project Merlin (MRLN) as they make their much-anticipated debuts.

Velora’s launch signals a push into the next generation of DeFi, with its $VLR token powering intent-based cross-chain trading and unlocking gasless staking and community rewards.

Meanwhile, Project Merlin steps onto the scene offering an all-in-one Web3 ecosystem that connects blockchain entrepreneurs, communities, and investors, complete with a robust launchpad, crowdfunding, and freelance ecosystem, all tied together by the $MRLN token and launching with airdrops across major exchanges.

These releases are more than just hype; they reflect how the industry is charging ahead with technical innovation and shifting toward tailored, ecosystem-first infrastructure.

But it’s not just token launches grabbing investor attention. On the regulatory front, Hong Kong just locked in fresh banking capital guidelines for digital assets, set to take effect in January 2026.

The big shift? Banks are facing a 1:1 capital provision for any exposure to “permissionless” blockchains.

The move is expected to bolster confidence for institutional players looking for a safer entry into crypto markets.

Added to that, Ripple is making headlines via a new partnership in Japan that brings its RLUSD stablecoin further into the nation’s payments rails, underscoring digital assets’ climb toward mainstream financial integration.

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