Immutable (IMX) staged a relief bounce from $0.298 to $0.320 this week, climbing 7.3% off its monthly low after a devastating 39.8% collapse wiped out nearly $0.25 in value since November. The gaming-focused Layer 2 token hit oversold extremes not seen since the August market-wide capitulation, with technical indicators suggesting sellers may have exhausted themselves at these levels. The main question for traders is: can bulls transform this oversold bounce into a sustainable reversal, or will the broader downtrend reassert itself once relief buyers finish their work?