Technical Analysis for $CVX
/USDT🔥💯
Current Price: $5.57
24h Change: +18.79%
Trend: Bullish
Support & Resistance Levels:
Support: $4.66
Resistance: $6.07
Technical Indicators:
Relative Strength Index (RSI): In bullish territory, around 60, indicating further upward momentum without being overbought.
Moving Average Convergence Divergence (MACD): Bullish crossover, signaling continuation of the upward trend.
Volume: Increased trading volume, suggesting market interest and validation of the uptrend.
Trade Signal:
Buy: After a breakout above $5.65 (Resistance level), continue buying on pullbacks near $5.50.
Sell: Target profit-taking at key levels and watch for retracements near targets.
Target Levels:
1. First Target 🎯: $5.90
2. Second Target 🎯: $6.20
3. Third Target 🎯: $6.50
Momentum:
The bullish momentum is strong as CVX continues to show upward movement with healthy volume and favorable technical indicators (RSI, MACD).
Be cautious of sudden retracements; set stop-loss orders near $5.00 to manage risk effectively.
Trade with confidence but monitor key levels for breakout or reversals.