CVX Technical Analysis: Bulls Ready To Crush Falling Wedge

CVX coin price shows a bull cycle within the falling wedge ready to surpass the resistance trendline. Should you be interested in an early bullish entry? Key technical points: CVX’s price sustains above the $25 mark. The EMAs achieve a bearish alignment. The 24-hour trading volume of Convex Finance is $19.05 Million, reflecting a rise of 53%. Past Performance of CVX CVX coin price shows a downtrend in a falling wedge fashion accounting for deflation of 30% last month. However, the recent reversal from the support trendline comes with a double bottom breakout and shows a growth of 15% in the last 24 hours. However, the resistance trendline and the resisting EMAs keep the bullish growth in check. Source-Tradingview CVX Technical Analysis The CVX coin price retests the 50-day EMA breakout and sustains above the $25 mark reflecting a surge in underlying bullishness. Hence, the chances of trendline breakout to reach the $30 mark is still significant. The flattish trend of the key 4-hour EMA is a strong rebuke to the bull run, while remaining in the bearish alignment. But, the break of the averages could indicate a potential buying opportunity. MACD Indicator: The MACD and signal lines surpass the zero line after the recent bullish crossover reflecting a rising underlying bullishness. RSI Indicator: The RSI slope continues an uptrend to surpass the halfway line with the support of the 1-day average. In a nutshell, the CVX technical ...