Technical Analysis and Trade Signals for $CVX

/USDT 🚀 🎯

Technical Analysis

1. Current Price: 2.639

The price is trading above the upper Bollinger Band (2.502), indicating strong bullish momentum or a potential overbought condition.

2. Support Levels:

1st Support: 2.502 (Upper Bollinger Band)

2nd Support: 2.224 (Middle Bollinger Band)

3rd Support: 2.174 (SAR Level)

3. Resistance Levels (Targets):

1st Target: 2.850 (24h High)

2nd Target: 3.000 (Psychological Level)

3rd Target: 3.180 (Potential Fibonacci Extension or breakout level)

4. Indicators Overview:

Bollinger Bands: Price above the upper band signals strong momentum but may face retracement.

SAR: Bullish signal as price is well above the SAR level at 2.174.

Trade Momentum

Bullish Momentum is currently dominating:

Price consistently breaking key levels.

High trading volume supports the trend continuation.

Trade Signals

Long Entry Signal:

Enter above 2.640 after confirmation of support at 2.502 or minor retracement.

Targets 🎯:

1. Target 1: 2.850 (Immediate resistance)

2. Target 2: 3.000 (Key psychological level)

3. Target 3: 3.180 (Extended breakout target)

Stop Loss:

Place a stop loss below 2.502 (Upper Bollinger Band).

Risk Management Tips:

Adjust stop loss to breakeven once Target 1 is achieved.

Scale out profits at each target level.

Watch volume and momentum indicators closely, especially near 2.850.

Momentum Key: As long as the price stays above 2.502 and the SAR trend remains bullish, upward momentum is likely to continue.

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