In the Metaverse startup bubble, we are witnessing the fall of several assets.
Here I will analyze Illuvium.
The project may be well-reasoned and so on, but the price doesn't lie.
We have a book setup here.
Bullish waves from 1 to 5.
Then we have the formation of a shoulder-head-shoulder figure.
If we project the head height to the reverse (down) side, we have...
This chart is starting off crazy.
The project seems to be a hit, even though the game is not live yet.
Keep an eye on this one, as Illuvium (ILV) is a blockchain game competing with the smash hit Axie Infinity (AXS).
Target is $4400 after 365 days (970% gain)