$CVX
/USDT Technical Analysis:💯🔥
Current Price: $4.99 (+4.67%)
24h High: $5.247
24h Low: $4.479
Support Level: $4.479 (Strong Support)
Resistance Level: $5.247 (Key Resistance)
Technical Indicators:
Momentum: Bullish (Uptrend of 4.67%)
RSI (Relative Strength Index): Near neutral, but leaning bullish as it's below 70 (likely to rise further with positive momentum).
MACD (Moving Average Convergence Divergence): Positive cross, indicating potential for further upside movement.
Volume: Strong buying volume (1.12M CVX in 24h) supporting the momentum.
Trade Signal:
Buy Signal: When the price stabilizes near support ($4.99) or tests low ($4.479) level.
Target Levels 🎯:
1. Target 1 (Immediate): $5.15 (Resistance Test)
2. Target 2 (Medium-Term): $5.25 (Psychological Barrier)
3. Target 3 (Long-Term): $5.50 (Next Key Resistance)
Momentum Outlook:
The bullish momentum is supported by buying volume. The market shows a tendency to break resistance at $5.25, suggesting a continuation upwards towards $5.50. Maintain a close watch on RSI for possible overbought signals near these levels.
This strategy would be suitable if you're aiming for moderate-term profits but always ensure to set stops to manage risks properly.