📊$CVC
CVC/USDT Technical Analysis: Targeting Key Levels 🎯
As the CVC/USDT pair shows some notable price action, let's break down the key levels and potential targets in the short term.
Current Price: 0.1732 USDT
24h Change: -8.36% (Rs48.2)
Key Levels to Watch:
1. Target 1: Support at 0.1702 USDT
With a low of 0.1702 in the last 24 hours, this level could act as a strong support if the price continues to fall. Watch for a possible bounce here, which could present buying opportunities.
2. Target 2: Resistance at 0.1812 USDT
The 25-period moving average (MA) sits at 0.1812, showing a potential resistance level. A break above this could signal a short-term bullish trend, as the price may push towards higher targets.
3. Target 3: Upper Resistance at 0.1968 USDT
The 24-hour high at 0.1968 represents a key resistance point. If the price can break through this level, it could suggest further upward momentum, bringing the price closer to 0.20 USDT.
Moving Averages Analysis:
MA(7): 0.1756
MA(25): 0.1812
MA(99): 0.1698
The 7-period moving average suggests slight bullish momentum, while the 25-period MA shows resistance at 0.1812. However, the 99-period MA near 0.1698 indicates long-term support.
Volume Insights:
24-hour volume is currently at 85.41M CVC and 15.75M USDT.
The short-term volume looks stable, with the 15-minute volume at 571,361 CVC, and the moving averages for volume showing increasing market participation.
📈 Conclusion:
Traders should monitor the key support and resistance levels closely. If the price breaks through 0.1702, further downside could be expected, but if the price holds and breaks 0.1812, we could see further bullish momentum towards 0.1968.
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