ILV is in a strong position after making a falling channel pattern on the charts. The crypto is giving a buy signal.
In this article, we will see ILV Crypto price analysis along with weekly analysis and news roundup.
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ILV Crypto Price Analysis
- Price: $63.46
- Market Cap: Approximately $120 million
- 24h Trading Volume: Around $17 million
- Circulating Supply: 1,894,299 ILV
- Total Supply: 10,000,000 ILV
Channel Down has broken through the resistance line . Possible bullish price movement forecast for the next 12 days towards 70.1114.
Weekly Price Analysis
- Opening Price (5 July 2024): $60.23
- Highest Price (7 July 2024): $64.50
- Lowest Price (10 July 2024): $58.90
- Closing Price (12 July 2024): $63.46
- Weekly Price Change: +5.36%
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News Roundup
- Partnership Announcements: Illuvium recently partnered with several gaming platforms to expand its GameFi ecosystem, which is expected to attract more players and investors.
- Technological Updates: The development team announced significant progress on their Layer 2 scaling solution, which aims to reduce transaction costs and improve speed.
- Market Sentiment: Overall positive sentiment driven by broader market recovery and increased interest in GameFi projects.
Indicators Value
- RSI (Relative Strength Index): 70 (overbought conditions)
- MACD (Moving Average Convergence Divergence): Showing bullish crossover
- Bollinger Bands: Widening, indicating increased volatility
Conclusion
The current trend of ILV is rising as it shows the strong performance in the last week and received a boost in price. This Al might be due to positive news on partnerships and other technological breakthrough likely to propel the bullish trend. There is an indication that though market may periodically fluctuate, there is generally a positive feeling on the market for such product to be developed.
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