Bitcoin, Ethereum, and IMX: What to Expect as Prices Face Election Pressures

Bitcoin, Ethereum, and Ripple Under Pressure

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are experiencing significant resistance at crucial price levels as the US Elections approach, leading to a notable decline in their values. As of Monday, these cryptocurrencies are nearing key support levels, and a solid close below these points could indicate further price drops.

IMX Faces Setback After SEC Notice

Immutable's IMX has seen a staggering 13% decline after the announcement of a Wells Notice from the Securities & Exchange Commission (SEC), which is believed to be linked to the private sale of its tokens in 2021. This regulatory scrutiny has raised concerns among investors.

Ethereum's Potential Bounce

Ethereum (ETH) is down by over 1%, but a critical support level suggests a possible rebound from $2,490. Current on-chain metrics indicate signs of investor accumulation, hinting that ETH may retest $2,707 soon.