$CVX
/USDT Technical Analysis and Trade Signals 🚀 🎯
Current Price: $4.62 (+5.04%)
Trend Analysis:
Short-term Trend: Bullish, with price near the middle Bollinger Band and above its lower band, but facing resistance at the Parabolic SAR ($4.763).
Momentum Indicators: Mixed; price shows upward pressure but needs to break above key resistance for sustained bullish momentum.
Trade Momentum
Momentum: Neutral to Bullish
A breakout above $4.763 (SAR resistance) will confirm bullish momentum.
Failing to break $4.763 might lead to a retest of support at $4.592 or even $4.26.
Trade Signal for CVX/USDT
1. Entry Zone:
Buy on breakout above $4.763 or on a pullback near $4.59 with confirmation of support.
2. Targets 🎯:
Target 1 (Short-Term): $5.00 (psychological resistance level).
Target 2 (Mid-Term): $5.124 (upper Bollinger Band and key resistance).
Target 3 (Extended): $5.65 (24h high and major resistance).
3. Stop-Loss:
Place below $4.50 (strong support zone and Bollinger Band lower limit).
4. Risk-Reward Ratio:
Target 1: ~1.5:1
Target 2: ~2.2:1
Target 3: ~3.5:1
Strategy Note:
Bullish Confirmation: Look for price sustaining above $4.763 with increasing volume for bullish continuation.
Bearish Risk: If the price closes below $4.50, further downside to $4.26 may occur, invalidating bullish bias.