The substantial offloading carried out by luggis.eth resulted in a significant plunge in the value of $ILV, causing it to decrease by approximately 5%. This sudden movement in price has captured the attention of the cryptocurrency community, shedding light on the impact that major holders have on market prices.
A noteworthy transaction occurred on the blockchain, where Luggis.eth sold 40,730 $ILV for 778.72 $ETH, amounting to a valuation of $2.72 million. This massive sale has had a noticeable effect on the $ILV market. The substantial sell-off by Luggis.eth led to a sharp decline in the price of $ILV, resulting in a decrease of approximately 5%. This unexpected alteration in price has caught the interest of the cryptocurrency community, highlighting the influence wielded by large holders on market prices.
luggis.eth executed the sale of 40,730 $ILV for 778.72 $ETH ($2.72M) on the blockchain roughly 10 minutes ago, causing the price of $ILV to experience a drop of approximately 5%.
luggis.eth currently possesses 260,881.8 $ILV ($17.64M) remaining.
Despite the substantial sale, luggis.eth still retains a significant amount of $ILV. Presently, Luggis.eth holds 260,881.8 $ILV, which is valued at approximately $17.64 million. The remaining holdings indicate that luggis.eth maintains a considerable stake in $ILV, even after the recent transaction.
Reviewing the price of ILV: What is the Token’s Outlook?
Upon analyzing the price charts for the token, we observe that the price is positioned below the cloud, which is typically interpreted as a bearish signal. Conversely, when examining various technical indicators, we note that the Money Flow Index (MFI) is below 50, suggesting that the asset is neither overbought nor oversold, but rather exhibits weak buying pressure.
Chart displaying the 4-hour ILV/USDT movement. Source: TradingView
Furthermore, we find that the current value of the Awesome Oscillator (AO) is -1.41. The AO is in a negative state, indicating an increasing bearish momentum. The price has experienced a sharp decline, which signifies intense selling pressure. The combination of the price being below the Ichimoku Cloud and the negative AO implies a continuation of the bearish trend.