CONVEX FINANCE - CVX/USDT

- USDT (-)

- Real time data - CoinMarketCap

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Type:	Cryptocurrencies
Ticker:	CVXUSDT
ISIN:

CONVEX FINANCE - CVX/USDT - Daily - Technical analysis published on 01/24/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
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Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

11%

83%

My opinion

Bearish under 2.86 USDT

My targets

2.46 USDT (-7.87%)

2.31 USDT (-13.48%)

My analysis

The bearish trend is currently very strong for CONVEX FINANCE - CVX/USDT. As long as the price remains below the resistance at 2.86 USDT, you could try to take advantage of the bearish rally. The first bearish objective is located at 2.46 USDT. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 2.31 USDT as an objective. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.

Force

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by finacian. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The CONVEX FINANCE - CVX/USDT price is 2.67 USDT. On the day, this instrument lost -3.26% and was between 2.64 USDT and 2.77 USDT. This implies that the price is at +1.14% from its lowest and at -3.61% from its highest.

2.64

2.77

2.67

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows the following items:

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

The Central Volumes scanner detects abnormal volumes on the asset:

Abnormal volumes

Timeframe : 5 days

Abnormal volumes

Timeframe : 20 days

Abnormal volumes

Timeframe : 50 days

Technical

Technical analysis of CONVEX FINANCE - CVX/USDT in Daily shows a overall strongly bearish trend. 89.29% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The probability of a further decline is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Near support of channel

Type : Bullish

Timeframe : Daily

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S2	S1	Price	R1	R2	R3
ProTrendLines	2.31	2.46	2.67	2.86	3.21	3.38
Change (%)	-13.48%	-7.87%	-	+7.12%	+20.22%	+26.59%
Change	-0.36	-0.21	-	+0.19	+0.54	+0.71
Level	Minor	Intermediate	-	Minor	Minor	Intermediate

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.36	2.50	2.63	2.77	2.90	3.04	3.17
Camarilla	2.69	2.71	2.74	2.76	2.79	2.81	2.83
Woodie	2.36	2.50	2.63	2.77	2.90	3.04	3.17
Fibonacci	2.50	2.60	2.67	2.77	2.87	2.94	3.04

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.49	2.64	2.79	2.94	3.09	3.24	3.39
Camarilla	2.87	2.90	2.92	2.95	2.98	3.01	3.03
Woodie	2.50	2.64	2.80	2.94	3.10	3.24	3.40
Fibonacci	2.64	2.75	2.82	2.94	3.05	3.12	3.24

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.96	2.59	2.95	3.58	3.94	4.57	4.93
Camarilla	3.03	3.12	3.21	3.30	3.39	3.48	3.57
Woodie	1.82	2.52	2.81	3.51	3.80	4.50	4.79
Fibonacci	2.59	2.97	3.21	3.58	3.96	4.20	4.57

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	34.07
MACD (12,26,9):	-0.1600
Directional Movement:	-12.12
AROON (14):	-85.72
DEMA (21):	2.80
Parabolic SAR (0,02-0,02-0,2):	3.15
Elder Ray (13):	-0.22
Super Trend (3,10):	3.31
Zig ZAG (10):	2.67
VORTEX (21):	0.9100
Stochastique (14,3,5):	8.95
TEMA (21):	2.74
Williams %R (14):	-97.29
Chande Momentum Oscillator (20):	-0.35
Repulse (5,40,3):	-10.1400
ROCnROLL:	2
TRIX (15,9):	-0.6700
Courbe Coppock:	17.57

MA7:	2.86
MA20:	3.00
MA50:	3.38
MA100:	3.36
MAexp7:	2.84
MAexp20:	3.01
MAexp50:	3.22
MAexp100:	3.29
Price / MA7:	-6.64%
Price / MA20:	-11.00%
Price / MA50:	-21.01%
Price / MA100:	-20.54%
Price / MAexp7:	-5.99%
Price / MAexp20:	-11.30%
Price / MAexp50:	-17.08%
Price / MAexp100:	-18.84%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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