Illuvium/Tether (ILVUSDT) Market Overview

Summary
• ILVUSDT surged to a 24-hour high of $9.66, breaking above prior resistance.
• Volatility and volume spiked sharply after 16:30 ET as price accelerated upward.
• RSI data unavailable, but bullish momentum evident from price action and MACD.

The Illuvium/Tether (ILVUSDT) pair opened at $8.64 on 2025-11-06 at 12:00 ET and closed at $9.60 at 12:00 ET the following day. The price reached a high of $9.66 and a low of $8.58 during the 24-hour period. Total trading volume amounted to 71,215.36, with a notional turnover of approximately $634,295. The price action reflects strong accumulation and a breakout from a descending channel, suggesting growing bullish sentiment.

Structure & Formations

Price formed a bullish ascending triangle pattern during the early hours, with a breakout occurring after 16:30 ET. A strong engulfing candle at 16:30 ET confirmed the breakout above $9.21, signaling a shift in sentiment. A doji at 14:45 ET marked a short-term pause but was quickly followed by renewed upward momentum.

Moving Averages

On the 15-minute chart, the price closed above both the 20-period (8.96) and 50-period (9.01) moving averages by the end of the session. Daily moving averages are not available from the dataset, but the 24-hour closing price at $9.60 suggests the price is well above key short-term trend lines, supporting a continuation of the bullish bias.

MACD & RSI

MACD turned sharply positive after 16:30 ET, with the line and histogram diverging in favor of bulls. While RSI data could not be pulled due to missing information, the sharp price move and diverging MACD signal strong momentum. If RSI were available, it likely would have entered overbought territory near the close, suggesting a potential pause in the near term.

Bollinger Bands

Volatility expanded significantly after the breakout, with price moving beyond the upper Bollinger Band for several periods. This expansion is typically followed by a period of consolidation, so a retest of the $9.21–$9.44 range could occur in the next 24 hours.

Volume & Turnover

Volume surged at the end of the session, particularly between 16:30 ET and 17:00 ET, confirming the breakout. Notional turnover also spiked during this period, aligning with the price move and reinforcing the likelihood that the trend is supported by institutional or heavy retail activity.

Fibonacci Retracements

The 24-hour swing from $8.58 to $9.66 shows a 61.8% retracement at approximately $9.20, which was successfully tested and rejected. A 38.2% retracement at $9.36 may act as a potential support level for the next 24 hours.

Backtest Hypothesis

The inability to access RSI data for ILVUSDT highlights a limitation in automated backtests for less-liquid or niche pairs. A more reliable approach could involve using a proxy or verifying the correct symbol format (e.g., "BINANCE:ILVUSDT") for future data pulls. For now, a simple RSI-based entry strategy—triggering long positions on RSI(14) overbought (>70) and short positions on oversold (<30)—would need to be manually adjusted or applied to a more liquid pair. Given the recent surge, a backtest using an RSI filter with a 70+ threshold would likely have generated a late-day long signal, aligning with the observed breakout.