Market Overview for Illuvium/Tether (ILVUSDT) on 2025-09-18

• Price surged 10.3% in 24 hours, closing at $15.24 after breaking above $14.80.
• Momentum accelerated with rising RSI and bullish engulfing patterns from 19:00–22:00 ET.
• Volatility expanded, with Bollinger Bands widening as trading volume spiked 2.5× the average.
• Key support at $14.46 and resistance at $15.42 were tested, with a potential 61.8% Fib level at $15.73 ahead.
• Divergence between price and turnover was noted during consolidation periods in early morning hours.

Price and Volume Summary

At 12:00 ET on 2025-09-18, Illuvium/Tether (ILVUSDT) opened at $14.50, surged to a high of $15.56, touched a low of $14.42, and closed at $15.24. Over the 24-hour period, total traded volume amounted to 84,641.14 ILV, with a notional turnover of $1,285,668.60. Price action displayed a strong upward bias, particularly in the late afternoon and evening hours.

Structure and Formations

Key resistance levels formed around $14.80, $15.24, and $15.42, with the latter being a recent high. Support was reinforced at $14.46 and $14.36. Notable candlestick formations included a bullish engulfing pattern between 19:00–20:00 ET and a hammer near the 23:00–23:15 ET timeframe. A doji at 02:45–03:00 ET signaled indecision during a consolidation phase.

Moving Averages

On the 15-minute chart, the price closed above the 20- and 50-period moving averages, indicating strength. The daily 50, 100, and 200-period moving averages showed the price has been trending above all three for several sessions, supporting a bullish outlook.

MACD & RSI

The RSI climbed to 63 by 21:00 ET, signaling moderate strength, and peaked at 67, suggesting rising momentum. The MACD line crossed above the signal line in late afternoon and remained positive, supporting a continuation of the upward trend. However, levels above 70 on RSI may hint at overbought conditions, potentially limiting further gains in the near term.

Bollinger Bands

Volatility increased significantly during the 15–22:00 ET period, with Bollinger Bands expanding from a narrow contraction seen in early morning hours. By 19:00 ET, the price was trading near the upper band, indicating overbought conditions. A pullback toward the midline could offer a reentry point for longs.

Volume and Turnover

Volume spiked significantly during the 18:15–19:30 ET window, confirming the strength of the breakout above $14.80. A divergence between rising price and falling turnover was observed between 03:00–06:00 ET, suggesting a potential short-term consolidation phase. The final 6 hours of the 24-hour window saw volume return to elevated levels as the price continued to trend higher.

Fibonacci Retracements

Applying Fibonacci retracement levels to the key swing from $14.42 to $15.56 showed the 61.8% level at $15.73, which may serve as a near-term ceiling. The 38.2% level at $15.35 appears to have been tested in the final hour of the 24-hour window. A break above $15.73 could confirm a strong continuation pattern.

Backtest Hypothesis

The backtesting strategy described involves entering long positions on ILVUSDT during a bullish engulfing pattern occurring after a consolidation phase, confirmed by a RSI above 55 and a breakout above the upper Bollinger Band. Stops are placed below the 20-period moving average, with a target at the 61.8% Fibonacci level. Based on today’s price action, this setup was observed between 18:15–20:00 ET, with a successful trade outcome likely. The strategy may benefit from volume confirmation during breakout phases.