Illuvium (ILV) surged 100% after the Leviathan No Limits Tournament boosted player interest.
Breakout from the double bottom pattern confirmed bullish momentum.
Key targets to watch are: $25, $27.50, and $30 if the rally continues.
In a stunning turn of events, Illuvium (ILV) has reignited investor interest after a dramatic price surge following the conclusion of its highly anticipated Leviathan No Limits Tournament.
The Web3 gaming token has shown exceptional momentum in recent days, leaving traders wondering whether this marks the start of a sustained uptrend or just a temporary flash of hype.
With the fundamentals improving and technical indicators aligning, ILV is making a strong case to be back on the radar.
Competitive play sparks a revival
The Leviathan No Limits Tournament served as a defining moment for the Illuvium ecosystem.
Unlike previous events that relied heavily on high-end NFT assets, this competition showcased how skill alone could drive competitive outcomes.
As a result, players with minimal in-game investments were able to compete effectively, shifting the game’s perception from pay-to-win to a skill-based and fair one.
This shift has contributed to a renewed sense of legitimacy around the game.
More importantly, it has started to attract a broader audience, including previously sceptical players who now see a more polished and competitive product.
As word spread, ILV’s price began to react swiftly, climbing more than 60% in a single day, a move rarely seen even among highly volatile crypto assets.
Double bottom breakout ignites an ILV bull run
Technically, the ILV/USDT chart painted a classic double bottom near the $11.81 level, forming a strong base after months of consolidation.
This bullish pattern triggered a sharp breakout, pushing the token to a high of $23.53 — a remarkable 100% rally within just a few hours.
To many, this is a clear breakout confirmation, with volume surging to levels not witnessed in months.
Even though the price has slightly pulled back to the $21 range, the bullish momentum remains intact.
Holding above $20 will be crucial in determining whether this is a healthy retracement or the start of a deeper correction.
However, with sentiment shifting and volume still strong, many believe the breakout has more room to run.
Illuvium price targets to watch
Market analysts have started pointing to higher resistance levels as potential short-term targets.
The first key level to watch is $25, followed by $27.50 and then $30 if momentum continues.
These targets are based on technical resistance zones and recent historical price action.
A successful breakout above the $23.66 high could pave the way for rapid moves toward those levels.
However, traders must remain cautious. ILV is still down nearly 99% from its all-time high of $1,911.26 recorded in November 2021.
While the recent bounce is significant, it comes after a deep and prolonged bear phase.
This means that volatility is likely to persist, and any major price movement should be approached with calculated risk management.
In addition, the RSI indicator shows an overbought market, meaning a pullback could be imminent, although the MACD shows a bullish trend resurgence.
Long-term outlook hinges on more than hype
Beyond the charts and short-term catalysts, Illuvium’s long-term success will depend on continued player engagement, product updates, and the ability to retain a competitive edge in the growing Web3 gaming sector.
The Leviathan tournament may have reignited interest, but sustaining that momentum will require consistent delivery from the development team.
Notably, the Illuvium ecosystem is still sizzling with user engagement as the ILV Summer Exclusive Illuvitars, which ends on August 14, has seen over 180 Glitched Illuvitars pulled so far.
With these developments, Illuvium has once again become one of the Web3 tokens to watch closely, although whether the recent breakout turns into a full-blown trend reversal remains to be seen.
