Market Overview for Illuvium/Tether (ILVUSDT) on 2025-10-13

• ILV/USDT rose 6.6% in 24h, forming a bullish breakout above key resistance.
• High volatility with expanding Bollinger Bands and strong volume confirmation.
• RSI near overbought levels, suggesting possible short-term pullback ahead.
• Bullish engulfing and higher lows mark strong short-term momentum.

Illuvium/Tether (ILVUSDT) opened at $12.12 (12:00 ET - 1), rose to a high of $13.07, fell to $12.24, and closed at $13.01 (12:00 ET). Total 24-hour volume reached 159,536.95 units, with notional turnover of $1.99 million. The pair demonstrated strong bullish momentum, with a breakout of a key resistance cluster and confirmation via increasing volume.

Structure & Formations

The price of ILVUSDT formed a series of higher lows and higher highs, suggesting a strong short-term bullish bias. A notable bullish engulfing pattern formed around $12.68–$12.72 during the early morning hours, indicating a potential reversal of short-term bearish pressure. Key support levels appear to be forming around $12.45 and $12.30, with resistance clustering at $12.75 and $12.85. A doji appeared at $12.70, which may signal temporary indecision, but was quickly resolved by a follow-through rally.

Moving Averages

On the 15-minute chart, the price closed above both the 20 and 50-period moving averages, suggesting a continuation of the bullish trend. The 20-period line was at $12.67, and the 50-period at $12.58. On the daily chart, the 50-period MA is at $12.44, while the 200-period is at $12.03. The price remains well above the 200-day average, indicating a strong long-term uptrend.

MACD & RSI

The MACD (12,26,9) for the 15-minute chart turned bullish, with the line crossing above the signal line and forming a positive histogram. This confirms the strength of the recent rally. The RSI is at 68, near overbought territory, suggesting potential for a pullback or consolidation in the short term. A sharp rise in the past four hours pushed the RSI above 60, reinforcing that bullish momentum is strong but possibly overextended.

Bollinger Bands

The Bollinger Bands have widened significantly, reflecting increased volatility in the past 24 hours. At the close of the reporting period, the price sat above the upper band, indicating a strong break and potential continuation. A contraction in the bands was observed early in the morning, suggesting a possible setup for a breakout—confirmed by the subsequent move upward.

Volume & Turnover

Volume surged during the early morning and midday hours, especially between 07:00 and 10:00 ET, with several 15-minute candles showing more than 7,000 units traded. The largest volume spike occurred at 07:45 ET with a trade of 7,529.324 units, coinciding with the breakout above key resistance. Notional turnover followed a similar pattern, with the highest turnover occurring at the same time. The alignment of volume and price action supports the bullish bias.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from $12.30 to $12.82, the price closed near the 61.8% level at $12.81, reinforcing the strength of the move. On the daily chart, the 50% retracement of the previous bearish leg is at $12.55, which has been successfully retested and rejected. This indicates strong bullish conviction.

Backtest Hypothesis

Given the appearance of a bullish engulfing pattern around $12.68–$12.72, a backtest of a 3-day holding strategy could be valuable. This pattern typically signals a reversal of short-term bearish momentum and is best evaluated in the context of volume and price action. If we assume the pattern is valid, a long entry at the close of the engulfing candle at $12.72, with a stop loss below the low of $12.61 and a take-profit at $12.85 (the next Fibonacci level), could be tested. Given the high volume and momentum seen immediately following the pattern, this trade may have strong confirmation for a near-term move up.