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$CVX /USDT TECHNICAL ANALYSIS
Price Action:
Current Price: $3.92
24h Change: +14.08%
24h High: $3.968
24h Low: $3.370
Chart Structure (1H TF):
Strong bullish rally with a sharp breakout from $3.50–$3.70 zone.
Current price testing resistance around $3.95–$4.00 (psychological level).
Next key resistance levels: $4.10 – $4.20.
Support zones: $3.70 (immediate) and $3.50 (major).
Momentum Indicators:
Bullish volume spike confirming breakout.
RSI (1H) likely near overbought → short-term pullback possible before continuation.
📌 Trade Setup (LONG Idea):
Entry Zone: $3.85 – $3.90 (on minor dips)
🎯 Target 1 (TP1): $4.05
🎯 Target 2 (TP2): $4.20
🎯 Target 3 (TP3): $4.40
🛑 Stop-Loss (SL): $3.65
💡 Market Outlook:
Holding above $3.70 keeps bullish momentum intact.
Break and close above $4.00 opens the way for $4.20+.
⚡ Strategy:
Ride the trend but expect some consolidation near $4.00.
Safer to enter on retracements rather than chasing highs.
#CVX #USDT #LONG