Illuvium Drops 7%, ILV Prices Could Sink to Q1 2022 Lows of $475

Illuvium is in bear territory, dropping seven percent and below critical resistance at $550. ILV prices may fall to Q1 2022 lows if bulls fail to flow back. Past Performance of ILV The Illuvium token is in red, dropping seven percent in the previous trading week and trailing the USDT. Despite earlier gains on April 25, the ILV price is bearish. Notably, prices are snapping back to last week’s trend as sellers set sight on retesting Q1 2022 lows of around $475. Technically, the wide-ranging bear bar of April 26 canceling previous bullish attempts is setting the momentum for more losses in the immediate term. Illuvium Technical Analysis The current bear bar appears to be rewinding gains of April 25, continuing the selling pressure of last week. With ILV bear bars banding near the lower BB and moving in the direction determined by sellers of April 11, every retracement towards $530 or today’s highs provides an entry for traders targeting $475. Therefore, if sellers press on, further losses below the critical support at $475 open up the ILV token for more dumps towards all-time lows of around $410. Ideally, Illuvium buyers will be in control provided prices trend above $550. The breakout should be with high trading volumes and preferably wide-ranging, setting the foundation for a leg up towards $670—April 2022 highs. What to Expect from ILV? The inability of ILV buyers to sustain prices above $530 could see the token post more los...