šÆ$CVX /USDT Price Analysis & Target on BinancešÆā¤ļøš
The $CVX /USDT trading pair has been showing strong bullish momentum recently, with a +12.28% increase in the last 24 hours. The price is currently at $4.44, and this surge has caught the attention of traders and investors alike. In this analysis, we will break down the technical indicators, key price levels, and potential targets for CVX/USDT on Binance.
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Key Market Data for CVX/USDT
Current Price (CVX/USDT): $4.44
24h High: $4.588
24h Low: $3.763
Price Change (24h): +12.28%
24h Volume (CVX): 1.92M CVX
24h Volume (USDT): $8.11M
In the past 24 hours, CVX/USDT has surged by +12.28%, with the price moving from a low of $3.763 to a high of $4.588. This price increase, coupled with the substantial volume of 1.92M CVX (equivalent to $8.11M USDT), suggests strong market interest and liquidity.
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Technical Indicators Overview
Moving Averages (MA)
MA(7): $4.453
MA(25): $4.472
MA(99): $4.478
Looking at the Moving Averages (MAs), the current price is situated above the key short-term, medium-term, and long-term MAs:
The 7-period MA (4.453) is just below the current price, which suggests the short-term trend remains bullish.
The 25-period MA (4.472) and 99-period MA (4.478) are slightly higher, confirming the continued bullish trend in the medium and long-term as well.
The price being above these moving averages indicates a positive outlook for $CVX
/USDT in the coming days, reinforcing the idea that bullish momentum could continue.
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Support and Resistance Levels
Immediate Support: $4.414 - $4.409
Immediate Resistance: $4.507 - $4.588
Support Levels: If the price faces a retracement, the $4.414 - $4.409 range would be crucial for support. These levels should hold if the uptrend is to continue. If the price dips below these, the next level to watch would be $4.00, where there is additional support.
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