An altcoin has soared 60% in the last week. Its price is driven by the excitement generated by an event in the crypto community. However, analysts question whether it can sustain the current rally or if a technical correction is imminent.
ILV, the token of Illuvium, a blockchain game based on the Ethereum network, has seen a notable rally in recent days, reaching $24,41 after a 60% rise in just one weekIn the last month, this token's cumulative increase has exceeded 115%, capturing the attention of both retail and institutional investors.
The main trigger of this upward movement is the expectation generated by the Illuvium Pro League 2025, a competitive event that will begin on August 16 and promises to revolutionize the dynamics of the Illuvium ecosystem.
BUY ILLUVIUM ON BIT2MEWhat is the Illuvium Pro League and why is it generating so much interest?
The Illuvium Pro League (IPL) is a high-level competition within the universe of Illuvium Arena, the strategy and combat game that is part of the Illuvium ecosystem. From August to December of this year, players will be able to accumulate qualifying points and compete in monthly tournaments with prizes totaling up to $250.000, in addition to opting for a spot in the December Main Event, which will distribute an additional $150.000.
The ranking system is designed to reward both consistency and competitive performance. Players can earn IPL points by participating in tournaments across different tiers, such as IPL 250, IPL 500, and IPL 1000. Each of these Tournaments has its own set of rewards and difficulty level. For example:
- IPL 250, is a 32-player open tournament with a prize pool of $2.000.
- IPL 500 It is a 64-player tournament with $5.000 in prizes.
- While IPL 1000 It is an exclusive invitation-only event with 64 participants and a prize of $20.000.
But, in addition to the monthly tournaments, there are other qualification paths such as the Last Call and the Last Chance, both in December, offering additional opportunities to secure a spot among the 64 qualifiers in the Main Event. The majority of prizes will be distributed in ILV tokens, reinforcing demand for the digital asset and its utility within the ecosystem.
This competitive model, supported by significant rewards and a clear progression structure, has generated a surge of interest that is directly reflected in the token's price.
Between euphoria and caution: this is what ILV's technical indicators say.
However, while the excitement surrounding the Illuvium Pro League has boosted the ILV token price in recent days, technical indicators are showing clear signs of caution. For example, the Relative Strength Index (RSI) remains above 70, indicating that the market is in a bearish mood. overbought zoneThis condition, in simple terms, usually precedes corrections, that is, downward movements that balance out the excess buying.
Another interesting insight comes from the metric known as "consumed age," which measures the activity of long-term investors. In this case, a notable increase is observed, suggesting that those who have held their tokens for some time are beginning to sell to take advantage of recent gains. This trend can be crucial, as long-term holders often have significant influence on market behavior, and their exit can generate short-term bearish pressure.
On the other hand, on a technical level, analysts indicate that ILV has broken through an important resistance at $24,19. If demand can sustain, the next price target is $27,01, with the possibility of a move up to $30. However, if selling pressure gains strength, a pullback cannot be ruled out, which could take the price to $19,56, which would invalidate the bullish momentum seen so far.
Source: CoinGecko
So, although the outlook is favorable thanks to the enthusiasm generated, technical signs and the behavior of large investors suggest we should exercise caution and be alert to possible changes in ILV's trend.
Certificate
Cryptocurrency Technical Analysis Course
Medium levelIn this training we have Iván González, a professional expert in investments and cryptocurrencies, to teach you how the market works and how prices affect the behavior of investors.
Can the rally be sustained?
Illuvium’s (ILV) current momentum is closely tied to the highly anticipated launch of the Illuvium Pro League 2025, an event that could continue to attract new participants and investors, especially if the tournaments generate visibility and engagement on platforms like Twitch, YouTube, and X. On the other hand, technical pressure and long-term holder sales could limit the advance if demand for the token is not renewed.
The performance of the coming days will be key to determining whether the rally consolidates or if we're facing an imminent correction. More experienced traders will be alert for signs of bearish divergence, decreasing volume, and possible moving average crossovers that confirm a trend reversal.
A legitimate enthusiasm in the face of a possible correction
Illuvium's (ILV) rally is clearly linked to the excitement surrounding the Illuvium Pro League 2025, an event that promises to invigorate the ecosystem and attract new users. The competitive structure, token prizes, and the possibility of qualifying for the Main Event have generated a positive narrative that is reflected in the price.
However, technical indicators and the behavior of long-term holders suggest the market could be in an overbought phase. The key will be the balance between persistent demand and selling pressure. If interest in the league continues and translates into greater adoption of the game, ILV could consolidate its gains. If not, a technical correction could return the price to pre-rally levels.
For investors, the current situation demands caution, analysis, and constant monitoring of indicators. However, the excitement and expectations surrounding the Illuvium Pro League are understandable and deserve consideration, but they must always be accompanied by rigorous and risk-aware analysis.
BUY AND MANAGE ILLUVIUM HEREInvesting in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
