Illuvium (ILV)’s value on the 1-day chart of ILV/USDT is 70.32. This indicates that ILV is now inside the overbought region. There is a possibility to see a reversal/retrace forming soon.
The above 1-day chart of ILV/USDT states that ILV has been in the bearish era since 2021 December. Looking at the chart, ILV is now in the descending triangle. Due to the nature of the descending triangle, investors and traders need to wait for clear breakouts to one side of the trendline. If it breaks the upper trendline, it is more advisable to take a long position on ILV.
However, if it breaks the lower trendline, hodlers can do the DCA to accumulate more ILV. If ILV cannot break its current support and bottom, we can expect ILV bulls to initiate their era and raise ILV’s price to reach $63.51.
The above 1-day chart of ILV/USDT states that ILV has been in the bearish era since 2021 December. Looking at the chart, ILV is now in the descending triangle. Due to the nature of the descending triangle, investors and traders need to wait for clear breakouts to one side of the trendline. If it breaks the upper trendline, it is more advisable to take a long position on ILV.
However, if it breaks the lower trendline, hodlers can do the DCA to accumulate more ILV. If ILV cannot break its current support and bottom, we can expect ILV bulls to initiate their era and raise ILV’s price to reach $63.51.