Immutable (IMX) is currently trading at $0.312175, reflecting a 24-hour decline of 2.08%. The price has fluctuated between $0.311253 and $0.319177 in the last day, indicating a narrow trading range of 0.007924%, suggesting low volatility.

The trading volume over the past 24 hours stands at 14,753,573, representing a volume-to-market cap ratio of 5.82%. The hourly moving averages are bearish, with the 8 SMA at $0.3165 down 1.37%, the 13 SMA at $0.3162 down 1.28%, and the 21 SMA also at $0.3162 down 1.27%, indicating a consistent downward pressure.

The 1-hour RSI is at 44, which is nearing the oversold territory, while the 7-day RSI sits at 50, reflecting neutral market momentum. The recent 7-day price change shows a slight increase of 1.89%, but this is overshadowed by a significant decline of 18.58% over the past 14 days and a sharp drop of 35.78% in the last 30 days.

Given the technical indicators, including bearish moving averages and a declining RSI trend, the market sentiment appears weak. The substantial gap from the all-time high of $9.52 also highlights the long-term downtrend that IMX has been experiencing since late 2021.

Considering the current technical and fundamental data, the rating for IMX is a Sell. The persistent negative price action combined with bearish indicators suggests further downside risk in the near term, making it unfavorable for new positions.