$CVX /USDT: Bull Run in Progress! 🚀🔥
The $CVX /USDT pair continues its upward trajectory, trading within a clearly defined ascending channel on the 30-minute timeframe. Currently priced around $5.36, the pair shows strong bullish momentum, suggesting further upward movement.
Trade Setup
Entry Point
Now presents an ideal opportunity to enter a long position as the price hovers near the lower trendline of the channel.
Targets
1. Target 1 (T1): $5.60 (upper trendline of the channel)
2. Target 2 (T2): $5.80 (key resistance zone)
Stop Loss
Place a stop loss below $5.20 to manage risk effectively and safeguard against unexpected reversals.
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Key Observations
Performance: CVX has surged 145.80% over the past 90 days, underscoring strong and sustained bullish momentum.
Upside Potential: A breakout above the channel could signal a continuation of the bullish trend, opening the path to even higher targets.
Volume & Conditions: Monitor trading volume and broader market sentiment to confirm the price action and ensure sustained movement.
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Risk Management
Remember to trade with discipline and stick to your strategy. Always consider market conditions and adjust positions accordingly.