Illuvium $ILV suggestions for today’s trading based on recent performance and key indicators👇
Current Price and Historical Low: The current price is close to its all-time low, having dropped nearly 99% from its peak in May 2021. This suggests it could be attractive for investors looking for a speculative long-term entry, but the lack of recent momentum (-0.3% in 24h and -10.4% over the last week) indicates weak short-term sentiment.
Volume Decline: The trading volume is down by 16.57%, reflecting reduced trading activity and possibly low liquidity. This may make it riskier to execute larger trades without affecting the price. If you’re considering short-term trading, keep in mind that lower volume could increase slippage.
Relative Performance: ILV has dropped 20.1% over the past 14 days and 48.6% over the past year, suggesting it is currently in a downtrend. Without any significant recovery signals, further short-term declines are possible.
Volatility and Range Trading: The 24-hour price range between $30.68 and $32.17 shows limited price movement, which could make it suitable for range-bound trading if volatility remains low. You might consider setting buy orders around $30.68 and sell orders close to $32.17, aiming to capture small profits on price fluctuations.
Market Cap and FDV: The Fully Diluted Valuation (FDV) is significantly higher than the market cap, indicating there is more supply that could potentially enter circulation. This is worth monitoring as it could dilute the token’s value if additional ILV enters the market.
Long-Term Hold Consideration: For those interested in the Illuvium ecosystem, ILV could be an entry point for a long-term hold, but only if you have a high-risk tolerance given the significant price drop from its peak and current market trends.
Overall Recommendation: Given the downtrend, ILV may be best suited for cautious, range-bound trading. For a speculative, long-term approach, it might be wise to monitor for further declines and consider buying in smaller increments, especially if it tests new lows.