ILV token is heading towards major support zone at high 900s. Crypto market is in a consolidation phase, which may take a while given the severity of the latest drop. I expect a relief rally bounce at the mentioned zone of support, which happens to cross latest HTF resistance trend line. The relief rally may bring us back to ~$1300 level marked by the left shoulder. If the pattern completes it would mean that the crypto market is weak, especially altcoins market.
Comment
⋅
First signs of bottoming visible
Comment
⋅
Pattern completed, good entry to go long with tight stop-loss under the formation