Illuvium Market Overview

• Illuvium (ILVUSDT) opened at $14.61 and closed at $14.04 after a volatile 24-hour session.
• Price fell below key support at $14.40, breaking a prior consolidation range.
• Volume spiked during the early morning ET, indicating heightened selling pressure.
• RSI reached oversold territory by the close, hinting at potential near-term bounce.
• Bollinger Bands widened significantly, signaling increased volatility and uncertain direction.

Market Overview

Illuvium (ILVUSDT) opened at $14.61 on July 21 and closed at $14.04 on July 22, hitting a high of $14.68 and a low of $13.67 over the 24-hour window. Total volume was 101,324.87 ILV, with a notional turnover of $1,443,189.35. The asset experienced a sharp sell-off after 02:00 ET, breaking key support levels and triggering bearish momentum.

Structure & Formations

Price formed a bearish engulfing pattern at $14.40, followed by a breakdown below the prior consolidation range. A series of lower lows and lower highs from 03:00 ET onward confirmed a shift in sentiment. A potential short-term support appears at $13.90–$13.85, with a prior swing low at $13.67 offering further downside risk.

Moving Averages

On the 15-minute chart, price closed below the 20-period and 50-period moving averages, reinforcing the bearish bias. The 50-period MA at ~$14.35 acted as a dynamic resistance, and price failed to reclaim it after multiple attempts. On the daily chart, the 50, 100, and 200-period MAs are aligned lower, suggesting a continuation of the broader downtrend.

MACD & RSI

The MACD turned negative after 03:00 ET and remained below the signal line, indicating sustained bearish momentum. RSI dropped below 30 by the close, entering oversold territory, which could hint at a near-term bounce or consolidation. However, RSI divergence was not observed, so caution is warranted before expecting a reversal.

Bollinger Bands

Volatility expanded significantly during the sell-off, with the bands widening to ~$1.00. Price spent the final third of the 24-hour period near the lower band, suggesting exhaustion in the selling pressure. A potential bounce from the lower band is possible, but a retest of the $14.30–$14.40 range is likely before a directional breakout.

Volume & Turnover

Volume surged during the early morning sell-off, peaking at over 3,000 ILV in the 03:15–03:30 ET timeframe. This coincided with the breakdown below key support levels, confirming bearish conviction. Notional turnover also spiked during this period, reinforcing the strength of the move. A divergence between volume and price is not evident, so the bearish bias remains intact.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from $14.68 to $13.67, the 61.8% level is at $14.19, and the 78.6% level is at $14.03. Price closed near the 78.6% level, suggesting a possible short-term bottom. A close below $13.85 would target the 88.6% level at $13.67, the initial swing low.

Illuvium may find temporary support near $14.00–$13.95 in the next 24 hours, but a sustained move above $14.30 is unlikely without a shift in broader market sentiment. Investors should watch for volume confirmation on any upswing and remain cautious of further downside risks.