Market Overview for Illuvium/Tether (ILVUSDT) – 24-Hour Summary

• ILVUSDT rallied 3.25% over the last 24 hours, breaking above the $14.50 psychological level.
• Strong bullish momentum is evident, with RSI near overbought territory and MACD indicating sustained upward thrust.
• Volume surged during the overnight session, with a key breakout candle confirming the shift in sentiment.
• Volatility expanded as the price moved away from the lower Bollinger Band, indicating growing trader participation.
• A double bottom pattern and bullish engulfing candles suggest strong support near $14.34–14.36.

Illuvium/Tether (ILVUSDT) opened at $14.45 on September 15 at 12:00 ET and closed at $14.61 at 12:00 ET on September 16, reaching a high of $14.82 and a low of $14.17. Total traded volume was 96,543.64 ILV, with a notional turnover of $1,398,650. The 24-hour price action reflects strong upward momentum and growing bullish conviction.

Structure & Formations

The 15-minute chart shows a clear bullish continuation pattern, with multiple bullish engulfing candles forming after the price tested key support at $14.34–14.36. A double bottom structure was confirmed following a sharp dip to $14.17. Resistance has now shifted to the $14.82 level, which was briefly breached earlier in the session. A strong breakout candle at $14.82 on the 15-minute timeframe confirmed the reversal in sentiment, suggesting buyers are now in control.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending upward, with the price currently above both, indicating bullish momentum. For the daily timeframe, the 50-period, 100-period, and 200-period moving averages are also aligned in an ascending pattern, with ILVUSDT trading above all three, reinforcing the idea that the asset is in a strong uptrend.

MACD & RSI

The MACD histogram is positive and expanding, with the MACD line above the signal line, confirming the bullish bias. The RSI has reached 68–70 levels, nearing overbought territory, which could signal a short-term pullback. However, as long as the RSI remains above 50 and the price stays above key moving averages, the uptrend appears intact. A rejection at the 70 level may result in consolidation before further gains.

Bollinger Bands

The price has moved significantly away from the lower Bollinger Band, indicating a period of high volatility and strong buying pressure. The bands have expanded since the overnight session, reflecting increased participation. The price is now trading near the upper band, suggesting that the market is stretching toward overbought levels. A retest of the lower band could offer a favorable entry for continuation traders.

Volume & Turnover

Volume spiked during the overnight session, particularly around the $14.50 and $14.82 price levels, confirming the breakout and continuation of the uptrend. Notional turnover increased alongside volume, showing that the rise in price is supported by actual trading activity rather than thin liquidity. A divergence between price and volume could indicate exhaustion, but at this point, the alignment is positive.

Fibonacci Retracements

On the 15-minute chart, the price has moved above the 61.8% Fibonacci retracement of a recent bearish swing, now testing the 78.6% extension. Key support levels remain at the 38.2% ($14.53) and 61.8% ($14.46) retracement levels, which could act as potential areas of interest for pullbacks. On the daily chart, the recent bullish move aligns with the 61.8% retracement of a larger bearish trend from earlier in the month, reinforcing the continuation bias.

Backtest Hypothesis

The backtest strategy involves a simple moving average crossover system: a long signal is triggered when the 20-period moving average crosses above the 50-period MA on the 15-minute chart, with a stop loss placed below the recent swing low. This aligns with the current structure, where the 20- and 50-period MAs are both trending upward, and the price remains above both. A test of this strategy on the recent ILVUSDT data would likely capture the uptrend from $14.34 to $14.82. However, the overbought RSI and the lack of a clear reversal signal suggest that a trailing stop or risk management component is essential to avoid premature exits.