$CVX /USDT: Consolidation at Key Levels – A Strategic Opportunity
$CVX is trading at 5.108, up by 27.70%, following a significant rally that tested the 24-hour high of 5.657. The price is currently consolidating, with strong support observed around 5.000, indicating potential for a breakout or continuation of the upward trend. For an optimal trade, consider entering near 5.108 with tight targets at 5.200 (TP1), 5.300 (TP2), and 5.400 (TP3). A stop-loss at 4.900 is recommended to manage downside risks effectively.
This setup offers a balanced approach, allowing traders to capitalize on the ongoing momentum while protecting against volatility. Keep an eye on volume and price action near the resistance to confirm further bullish movements or potential reversals.