Today, *CVXUSDT* (Convex Finance) exhibits mixed trends as it consolidates in the broader DeFi ecosystem. CVX is trading with moderate volume, reflecting a cautious market sentiment. Over the last 24 hours, the asset has maintained a market cap of approximately $228 million with a circulating supply of around 99.37 million tokens. This positions CVX as a mid-tier cryptocurrency by market capitalization
Technically, CVX faces resistance near $3.00 while finding support around $2.60. Recent volatility in DeFi tokens has influenced CVX, which benefits from its role in enhancing Curve Finance's staking rewards. Stakers can access boosted rewards through Convex pools, a key utility driving demand for the token. However, the reliance on Curve's ecosystem exposes CVX to broader DeFi market fluctuations
CVXUSDT is showing a bullish trend today, with its price rising by 7.93% in the past 24 hours . Currently, it's trading at $2.244 USDT, with a 3.02% increase in the last day and a 7.16% increase in the last week . The Relative Strength Index (RSI) is at 69.42, indicating a potential continuation of the upward trend .
*Technical Analysis*
- Oscillators are showing a neutral trend, with some indicators suggesting a strong buy signal .
- Moving Averages are indicating a strong buy trend, with the Exponential Moving Average (10) and Simple Moving Average (10) showing positive signals .
- The Ichimoku Base Line (9, 26, 52, 26) is also indicating a bullish trend .