- Illuvium, a leading gaming platform, has partnered with Team Liquid.
- The partnership will explore Arena, the company’s latest game.
- Team Liquid is a leading player in the eSports industry.
Illuvium (ILV) price pulled back slightly on Friday but remained on track for a strong weekly performance. The token reached a high of $123.06 on Wednesday and has now pulled back to $110. In all, it has jumped by more than 192% from the lowest point in November.
Partnership with Team Liquid
One of the biggest Illuvium news of the week was its partnership with Team Liquid, a global eSports powerhouse. The partnership will explore and limit-test Illuvium: Arena’s competitive modes.
Some of the top Team Liquid streamers like SnoodyBoo and Broxah will play the Arena game and showcase the game to a new audience. The goal is to take Arena mainstream as the top blockchain game in the industry. In a statement, Kiera Warwick, the founder of Illuvium said:
"Overcoming the scepticism around blockchain games is crucial, and the way forward is by delivering exceptional gaming experiences. Our collaboration with Team Liquid is a significant milestone in demonstrating that blockchain games, including those with NFTs, can offer engaging and deep gameplay experiences on par with traditional games."
Illuvium is a leading player in the blockchain gaming industry. Its goal is to build quality games that can compete with mainstream games from companies like Take Two Interactive and EA Sports.
Illuvium also incorporates blockchain features like decentralized finance (DeFi) and non-fungible tokens (NFTs). In addition to Arena, other games in its ecosystem are Overworld, Zero, and Beyond.
Blockchain games like Axie Infinity, Decentraland, and Sandbox boomed in 2021 as the crypto bull run accelerated. They then lost traction as the pandemic ended and their underlying tokens plunged.
Read more: How to buy Decentraland.
Illuvium price forecast
The daily chart shows that the ILV token price has done well in the past few weeks. It has soared from a low of $37.58 in November to a high of $123. Along the way, the token has jumped above the 25-day and 50-day Exponential Moving Averages (EMA).
At the same time, the ILV’s token Relative Strength Index (RSI) has formed a bearish divergence pattern. It has moved from the overbought point of 98 to 60. Also, the MACD and signal lines have made a bearish crossover pattern.
It has also moved slightly below the resistance point at $119.80, the highest swing in February.
Therefore, the outlook for the ILV token is bullish as long as bulls manage to push it above the key resistance levels at $119.80 and $123. If this happens, the next point to watch will be at $130.
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