$ILV The price of (ILV) has skyrocketed by 60% in 24 hours.

- Illuvium (ILV) shares rose by 60% in 24 hours amid excitement surrounding the Illuvium Pro League 2025, which starts on August 16.

- The relative strength index (RSI) value above 70 indicates overbought conditions for $ILV , raising concerns about an impending pullback as selling pressure increases.

The relative strength index (RSI) of ILV is currently above 70.0, indicating that the token is in the overbought zone. This suggests a potential price reversal may occur soon. Historically, when the RSI approaches this threshold or crosses it, the price of $ILV has shown a pullback, albeit short-term.

As the excitement surrounding the ILV Pro League wanes, overbought conditions may lead to selling pressure. A high RSI signals a potential correction for the asset, especially considering the rapid price increase. This could lead to investors withdrawing funds and trigger a short-term decline.

Having reached a six-month high, ILV is unlikely to continue its upward trend given all the factors. The altcoin may drop, contradicting the optimistic forecast and nullifying the recent gains.