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Peter Oleshchuk
Apr 29, 2022

ILV Technical Analysis: A High Risk Of The Historical Low Update

ILV
Quite an important trading situation has occurred in the ILVUSDT market. Despite the short history of ILV cryptocurrency trading, market participants are now deciding the fate of the next medium-term price movement. The fact is that the ILV price from January 2022 is consolidating over the global liquidity range of $485. The importance of this range is obvious. However, the weak rebounds of the ILV price from this range are alarming and suggest the idea of ​​updating the historical low in the near future.

TradingView Chart

The best-case scenario for ILV investors at the moment is the continuation of price movements in the wide consolidation range of $485-$643. To do this, buyers need to actively start the first week of May and take the initiative in the market into their own hands. At $643, buyers will have a chance to break the shackles of consolidation and start a new growth wave. However, if trading volumes near the $643 range are low, you should get rid of ILV coins and expect the price to fall with the final target of $350. It is from this point that buyers will try to regain control of the market and begin preparations for the formation of a new growth wave.

Technical Analysis Of ILV On The Daily Timeframe

ILV

Analyzing the ILV price movement on the daily timeframe, one can see the total weakness of buyers in the key range of $485. After a test attack by sellers on 26 April, the reaction of buyers was frankly shocking. Using the average trading volumes, sellers were able to close the daily candle from 26 April virtually full. Within 2 days, buyers could not even reject half of sellers' candle.

Thus, the rebound of the ILV price from the range of $485 is a big question. If the dynamics of trade continues, sellers will simply be able to push the price lower and fix it at $485. And this will be a clear signal of the beginning of a local collapse in the ILV market. Therefore, it is dangerous to consider this cryptocurrency for investment as long as the chart does not show an active upward movement of ILV prices on smaller timeframes or an increase in trading volumes.

The ILVBTC Price Is Also In A Difficult Situation

TradingView Chart

The weekly ILVBTC price chart shows us two bright waves of price movement. Common between the aggressive growth wave from September 2021 and the fall wave from December 2021 is the range of 0.012. It is from this range that the bright growth wave began. And right now the ILVBTC price reaches 0.012.

So far, investors are interested in this cryptocurrency. This good can be seen in the trading volumes and a stable downward trend. The next few weeks will be crucial for ILV. Therefore, it is worth having the capital to invest in readiness, but do not rush to enter the market. To begin with, it is necessary to thoroughly identify the strengths and join it.

ILV Technical Analysis: A High Risk Of The Historical Low Update
Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

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