Technical Analysis for $CVX /USDT:
Current Price: 4.806 USDT (+18.90% change)
Trend: Bullish momentum observed in the short term, as price is currently rising from a low of 4.032 USDT to 4.806 USDT.
Support Level: 4.690 USDT (SAR indicator suggests possible support around this level).
Resistance Level: 5.166 USDT (24h high).
RSI (Relative Strength Index): Likely near overbought, signaling caution for short-term corrections.
Volume: Strong buying volume (14.57M USDT), indicating active bullish momentum.
Trade Signal:
Entry: Consider entering around 4.80 USDT, as price is in an uptrend.
Target Levels:
Target 1: 5.00 USDT (short-term resistance)
Target 2: 5.15 USDT (near 24h high)
Target 3: 5.20 USDT (potential breakout point)
Stop Loss: Set at 4.65 USDT, just below recent support, to minimize downside risk.
Trade Momentum: The bullish trend is strong, but be mindful of any sudden corrections. Momentum seems to be positive, but with caution near resistance levels.
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