ILV Tops $100 Sprayed Over 130% This Month, What’s Going In ILV?

Illuvium (ILV) glimpsed a sharp spike of over 130% this month and is on the list of the top gainers in the cryptocurrency market. In the past few months, ILV crypto was in the retracement phase and persisted in forming lower lows inside the falling wedge pattern. As soon as ILV whips the trendline mark of $50 is close to the 200-day EMA mark. Post a sharp spike in buying momentum, ILV rose rapidly. ILV crypto continues to form higher highs, and has surpassed the key hurdle of $100 and key MAs.

Illuvium (ILV) crypto formed a golden crossover and will continue its performance and may reach the swing mark of $125 soon. As per the technicals, ILV crypto instigated a fresh bull move as the buyers have attained momentum, which may resume the rally in the next sessions. However, the ILV crypto appears overbought and a retracement was due toward the immediate support zone of $110, which may be seen soon.

The live price of Illuvium (ILV) crypto is $117.21 with a massive intraday gain of 9.21% shows bullishness on the charts. Moreover, the trading volume increased by 14.08% to $102.28 Million and the pair of ILV/BTC is at 0.00310 BTC. However, the market cap of ILV crypto is $799.62 Million. Analysts have maintained a buy rating and suggest a growth outlook for the upcoming sessions.

Will ILV Crypto Reach $150 by the End of 2023?

ILV crypto has witnessed the bulls’ dominance and escaped the prompt hurdle of $100 and $110 and is now an unrestricted area to extend the rally. In the past sessions, ILV crypto faced resistance near $100 and retraced to the 20-day EMA.

The RSI curve is in the overbought zone and formed a bullish divergence, suggesting that the rally will continue in the coming sessions.The MACD indicator shows a bullish crossover and formed green bars on the histogram, suggesting outperformance in the upcoming sessions.

Weekly Charts Displays Double Bottom Pattern

On the weekly chart, the ILV crypto made a double bottom along with a sharp rebound. Buyers are persisting to lift ILV and surpassed the ongoing hurdles decisively, exhibiting a glimpse of bullishness. The technicals highlight a trend reversal and that ILV crypto is ready to go bullish and reach the $150 soon.

Summary

Illuvium (ILV) crypto price chart shows a double-bottom pattern breakout and buyers will extend the rally and may reach $130 soon. The ILV crypto has finished the correction phase and registered a sharp pullback from the bottom zone of $38 and surged over 200% in recent weeks.

Technical Levels

Support Levels: $110 and $100

Resistance Levels: $125 and $135

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.