Can IMX bulls hold on after selling pressure fuels daily losses of 12%?

As the market crashed on the back of Binance being hacked, most altcoins were left bleeding. Immutable was one of the most affected altcoins on the charts. In fact, IMX recorded a massive price drop on the charts. The altcoin not only lost the $0.12-support but also breached $0.11, dropping to a low of $0.106. Soon after, it slightly rebounded though. At the time of writing, Immutable was trading at around $0.11, down 12% on the daily charts. At the same time, the altcoin's volume jumped by 218%, hinting at strong selling pressure as traders reduced their exposure.