ILV Price Analysis: Illuvium Retracement Move Sparks Concerns
The price of Illuvium (ILV) has experienced a retracement move, causing some investors to worry about its future. This comes after the cryptocurrency’s disappointing performance in 2021, with a -97% decline. The retracement move has been triggered by a trading channel that has acted as resistance for any significant price increase above $110 since August.
However, despite the retracement, ILV bulls have defended the drop, establishing a support level between $84 and $100. The recent consolidation and the cooling-down of the RSI indicate the potential for upside movements in the future. Overall, ILV price appears healthy and is expected to consolidate before attempting a re-test of the resistance level at $112.
Bitcoin Minetrix Presale Raises Over $4.4M
Bitcoin Minetrix, a Bitcoin cloud mining platform, has raised over $4.4 million in its presale. The platform offers a stake-to-mine system with a staking APY of 141%, allowing users to buy and stake Bitcoin and earn rewards. Bitcoin mining has experienced significant growth in recent years, but it has also become more centralized. The majority of block rewards go to just two mining pools, highlighting the need for decentralized mining solutions.
Bitcoin Minetrix aims to address this issue by providing secure and transparent Bitcoin mining rewards for retail investors through its innovative cloud mining approach. It operates on the Ethereum blockchain, ensuring security and reliability. The ongoing presale offers an opportunity for early investors to participate in this stake-to-mine evolution at a competitive price.
Hot Take: ILV Price Holds Strong Amidst Retracement
The recent retracement move in ILV price has sparked concerns among investors, but the cryptocurrency has shown resilience. Bulls have defended the drop, establishing a support level and indicating potential upside movements in the future. While there are risks involved, ILV price is unlikely to go to zero at this stage.
Meanwhile, Bitcoin Minetrix is gaining attention with its innovative approach to Bitcoin cloud mining. The platform aims to address the issue of mining centralization and offers retail investors a chance to participate in Bitcoin mining through its stake-to-mine system. With a successful presale raising over $4.4 million, Bitcoin Minetrix presents a lucrative opportunity for early investors.
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