Illuvium Price Analysis: ILV Gearing Up for a Massive Rally?


  • ILV/USD is confronted with resistance level of R1 at 60.72 dollars.
  • Current Illuvium Price is 119.25 dollars
  • Illuvium’s EMA(10) shows a upward trend.
  • ILV price flashes signs of bullishness on 7-days price chart.

28 April 2024 : In this article we will walk you through Illuvium price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Illuvium, Is ILV a good investment? Illuvium support & resistance levels etc. But before diving deep into the ILV technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,389,940,938,190. The total trading volume stands at $51,779,553,141. Bitcoin shares 52.91 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $64,154.38 level after an upward movement of 1.76%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 6.12 percent reaching to $3,310.98 during the previous 24 hours.
While publishing this blog, BNB traded at $601.40, following a price change of 1.38% within the same time frame. SOL the native coin of Solana is up by 6.22 and currently trading at $144.44. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Illuvium Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Illuvium (ILV)

ILV Resistance Levels ILV Support Levels
Resistance Level 1 $60.72 Support Level 1 $50.34
Resistance Level 2 $66.87 Support Level 2 $46.11
Resistance Level 3 $71.10 Support Level 3 $39.96

Illuvium Performance

ILV has recorded a upsurge, gaining 5.69% in last 24 hours. The current value of Illuvium is hovering at $119.25 with the trading volume of $63,632,898.00 USD in the same timeframe. The overall marketcap for ILV is $449,255,688.00 USD while the coin price changes 26.39% over the week.

Illuvium Price Analysis

ILV price analysis for 28 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Illuvium.

Moving Averages Price Indicator
Simple Moving Average (10) 54.19 Buy
Exponential Moving Average (10) 54.24 Buy
Simple Moving Average (20) 55.36 Buy
Exponential Moving Average (20) 55.28 Buy
Simple Moving Average (50) 62.76 Buy
Exponential Moving Average (50) 62.43 Buy

While ILV’s Williams %R indicator is at -74.158 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The ILV/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. RSI implying near oversold phase while trading at 37 and is trying to break out of the bearish zone.

Conclusions

There had been a positive trend for some time and it seems that the coin will continue it upward movement as long as it remains in the green area. You should only acquire crypto right now if you're prepared to book profit through short-term market moves.