Market Recovery: ARB and PYTH break into double-digit pump, IMX maintains positive upward trend.

According to Gate, as the price of Bitcoin (BTC) stabilizes above $108,000 and continues to approach historical highs, the cryptocurrency market shows strong signs of recovery. Against this backdrop, altcoins such as Arbitrum (ARB), Pyth Network (PYTH), and Immutable (IMX) have all achieved remarkable pumps in the past 24 hours. These Tokens are accelerating into a long-term recovery cycle, and are expected to soon break through key resistance levels, bringing new opportunities for investors.

Arbitrum (ARB) aims to break through key resistance

As of this Monday when the article was published, Arbitrum (ARB) has only slightly decreased by 1%, while it recorded a high of up to 18% increase the previous day. This altcoin is currently testing the key supply area around $0.35, while it has maintained a strong rebound of 37% over the past week.

If ARB can successfully close above the yellow shadow supply zone on the lower daily chart, then the upward momentum will have a chance to consolidate, and the next target will be the 200-day exponential moving average (EMA) at $0.45.

Last Thursday, the MACD indicator issued a bullish crossover signal (the MACD line crossing above the signal line), indicating that a clear upward trend is forming. At the same time, the Relative Strength Index (RSI) has broken through the neutral threshold, reaching 58, reflecting strong buying pressure.

However, if ARB encounters resistance in the current supply area, a correction may occur, potentially re-testing the 50-day EMA around $0.34. Investors should closely monitor this key level.

(Source: Trading View)

Pyth Network (PYTH) Target Breakthrough 50-Day EMA

Pyth Network has achieved an impressive 30% pump over the past week, rebounding strongly after hitting an annual low of $0.080 on June 22. However, at the time of writing, the momentum is slowing, and after a 10.85% rebound on Sunday, PYTH has slightly dropped nearly 1%.

Currently, the altcoin is struggling against dynamic resistance near the 50-day moving average (EMA) at $0.117—after rising for five consecutive trading days, the first bearish candle has just appeared at this price level. If it can decisively break through this moving average, PYTH may return to the monthly high of $0.131.

It is worth noting that the MACD indicator continues to solidify an upward trend, with the green histogram expanding above the zero line, indicating that bullish momentum is being maintained. At the same time, the RSI indicator rebounded strongly from the oversold area last week and has now surpassed the neutral threshold of 51—this indicates that buying pressure is returning to the market.

However, if the price fails to maintain the recovery momentum and reverses, the short-term downward trend may continue, dragging PYTH down to the annual low of $0.080.

(Source: Trading View)

Immutable (IMX) strives to reach resistance line

The price of Immutable (IMX) experienced a slight pullback of 1% in Monday's trading, having previously encountered resistance near the 50-day exponential moving average (EMA) at $0.50. The impressive 30% pump last week has brought its stock price to a long-term resistance level formed by the highs on May 11, May 23, and June 11.

If IMX can successfully close above the trend line and the 50-day EMA, it will be a strong breakout signal and has the potential to reach a monthly high of 0.58 USD.

Last Wednesday, the MACD indicator issued a clear buy signal, with the MACD line crossing above the signal line. At the same time, green bars appeared above the zero line, reinforcing the credibility of the emerging upward trend. The RSI also shows positive signals, rebounding from the oversold territory and currently returning to the neutral zone, reflecting that the selling pressure has significantly eased.

However, if IMX fails to maintain its bullish momentum and closes below the rebound price level on Sunday, the risk of returning to the annual low of $0.33 will become increasingly apparent.

(Source: Trading View)

Conclusion:

With Bitcoin's steady performance, the altcoin market has also experienced a significant recovery. Tokens such as Arbitrum, Pyth Network, and Immutable have shown strong growth potential and are striving to break through key resistance levels. Although market volatility still exists, the technical indicators and market dynamics of these tokens suggest that there may be more positive performance in the future. Investors should closely monitor these tokens' key points to seize the opportunities brought by the market recovery.