📈 $CVX

CVX/USDT Technical Analysis – Binance Update

Current Price: $5.334

24H Range: $4.520 - $5.566

Volume (24H): 2.06M CVX ($10.58M USDT)

Key Moving Averages (MA):

MA(7): $5.427 – Near-term resistance

MA(25): $5.358 – Short-term support

MA(99): $5.028 – Long-term support

Technical Targets 🎯

Based on the current trend and market dynamics, here are three potential targets for CVX/USDT:

1. Target 1 – $5.58

Why: Immediate resistance zone; a breakout above $5.566 could signal bullish momentum.

Action: Ideal for short-term traders aiming for quick gains.

2. Target 2 – $6.10

Why: Mid-term target based on Fibonacci retracement and previous highs.

Action: If the price consolidates above $5.58, this target becomes achievable.

3. Target 3 – $4.80

Why: If the price fails to hold above $5.088 support, $4.80 is the next significant level.

Action: Monitor for a potential bounce or reversal in this range.

Trading Strategy

Bullish Scenario: Break above $5.566 with strong volume could push CVX towards $6.10.

Bearish Scenario: If the price drops below $5.088, expect a pullback to $4.80.