CONVEX FINANCE - CVX/USDT - Weekly - Technical analysis published on 01/24/2024 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
11%
61%
28%
My opinion
Bearish under 3.21 USDT
My targets
1.96 USDT (-26.70%)
My analysis
The bearish basic trend is very strong on CONVEX FINANCE - CVX/USDT but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 3.21 USDT. Crossing the first support at 1.96 USDT would be a sign of a further potential price plummet. Caution, a return to above the resistance located at 3.21 USDT would be a sign of a possible consolidation phase of the short-term basic trend. 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, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7
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Additional analysis
Quotes
CONVEX FINANCE - CVX/USDT rating 2.67 USDT. The price is lower by -6.51% over the 5 days and has been traded over the last 5 days between 2.64 USDT and 3.17 USDT. This implies that the 5 day price is +1.14% from its lowest point and -15.64% from its highest point.2.64
3.17
2.67
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Abnormal volumes on CONVEX FINANCE - CVX/USDT were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in Weekly of this CONVEX FINANCE - CVX/USDT chart shows a sharp bearish trend. The signals given by moving averages are 89.29% bearish. This strongly bearish trend seems to be slowing down given the slightly bearish signals being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further decline is moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
R1
R2
R3
Price
| Price | R1 | R2 | R3 | |
|---|---|---|---|---|
| ProTrendLines | 2.67 | 3.21 | 6.73 | 15.56 |
| Change (%) | - | +20.22% | +152.06% | +482.77% |
| Change | - | +0.54 | +4.06 | +12.89 |
| Level | - | Minor | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 37.90 | |
| MACD (12,26,9): | -0.2100 | |
| Directional Movement: | -1.86 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 2.99 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.06 | |
| Elder Ray (13): | -0.29 | |
| Super Trend (3,10): | 2.44 | |
| Zig ZAG (10): | 2.67 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 19.27 | |
| TEMA (21): | 3.18 | |
| Williams %R (14): | -97.93 | |
| Chande Momentum Oscillator (20): | -0.75 | |
| Repulse (5,40,3): | -30.7500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.6300 | |
| Courbe Coppock: | 18.39 |
| MA7: | 2.86 | |
| MA20: | 3.00 | |
| MA50: | 3.38 | |
| MA100: | 3.36 | |
| MAexp7: | 3.06 | |
| MAexp20: | 3.28 | |
| MAexp50: | 4.45 | |
| MAexp100: | 7.43 | |
| Price / MA7: | -6.64% | |
| Price / MA20: | -11.00% | |
| Price / MA50: | -21.01% | |
| Price / MA100: | -20.54% | |
| Price / MAexp7: | -12.75% | |
| Price / MAexp20: | -18.60% | |
| Price / MAexp50: | -40.00% | |
| Price / MAexp100: | -64.06% |
Quotes :
-
Real time data
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