Illuvium ILV Token Price Surges 160% Amid Pro League Launch

Illuvium (ILV) token price surged to its highest point since February 14, reaching $23.65, up 160% from its lowest level this year. The price spike came after the developers released details of the Pro League, which starts on August 3 and ends in December. On-chain data shows increased accumulation by smart money investors, with over 91,000 ILV tokens held by these investors. Technicals point to more upside, with a potential price target of $41.

Illuvium (ILV) token price surged to its highest point since February 14, reaching $23.65, up 160% from its lowest level this year. The price spike came after the developers released details of the Pro League, which starts on August 3 and ends in December. On-chain data shows increased accumulation by smart money investors, with over 91,000 ILV tokens held by these investors. Technicals point to more upside, with a potential price target of $41.

The ILV price jumped after the developers launched the 2025 edition of the Illuvium Pro League. The league will include three tournaments: IPL 250, IPL 500, and IPL 1000, with various qualification paths to the main event. A two-point system will be in play: IPL points, earned from tournaments, and RLP, accumulated through the ranked ladder. The season begins August 16 and culminates in a world event in December. IPL 250 will feature 32 players and a $2,000 prize pool. IPL 500 will host 64 players and offer $5,000, while the IPL 1000 will be an invite-only event with 64 players. Additional “last call” and “last chance” events will provide final opportunities to qualify. The main event in December will involve 64 players, with 32 earning a payout from the total $250,000 prize pool [1].

The ILV price chart shows that the token dropped to a low of $9.7, where it formed a double-bottom pattern whose neckline was at $18, its highest point on May 10. The token has since moved above its 50-day moving average and briefly crossed the 23.6% Fibonacci retracement level. The most likely scenario is continued upside leading into the tournament’s start, followed by a potential pullback [1].

The ILV price surged after forming a double-bottom pattern and breaking out of a falling channel. This bullish reversal pattern signaled the end of a downtrend. The Money Flow Index (MFI) has now climbed to an extreme 99.84, indicating strong buying pressure. Despite an MFI near 100, an inverse head and shoulders pattern may keep ILV’s uptrend intact, with support at $17.95 [2].

The supply of ILV tokens on exchanges has dropped from 2.81 million to 2.74 million, indicating reduced liquidity and potential price appreciation. The ILV price surged to $21.36, the highest level in six months, after a stunning 70% surge in the past 24 hours. Despite the massive breakout, ILV shows no apparent signs of giving up its recent gains. Strong technical momentum, rising trading volume, and renewed GameFi sector interest combine to keep the rally alive [2].

References:
[1] https://crypto.news/heres-why-the-illuviums-ilv-price-is-soaring/
[2] https://www.ccn.com/analysis/crypto/illuvium-crypto-ilv-price-explosive-rally-six-month-high/