TheCoinRepublic

CVX price attempts to break the 0.618 level of Fib retracement

BINANCE:CVXUSDT   CVX / TetherUS
The Convex Finance Token price is trading near the lowest level ever at $16.10.
The Convex finance price is moving towards the half-line of Bollinger Bands indicator in terms of the daily price chart.
The daily CVX token price is trading below the half-line of Bollinger bands indicator in terms of the daily price chart.


According to Fib retracement, the CVX investors are gathering the value to jump above the $21.50 (0.618-level of Fib). Above the following level, buyers may again face a pullback near $30-crucial resistance.

The Stoch RSI is signaling the soft bullish indication for the Convex Finance token where the k is at 67-mark, and the D is at 46-mark, and the indicator broke the falling trendline (green). Moreover, the EMA Ribbon reflects the extreme bearish indication for the short-term period.

Convex Finance Token appears to be in a retracement phase. If the bulls breach the $21.5 bull market barrier with a significant amount of market volume , we can expect the bulls to move towards $30. If the bulls fail to sustain the price, they could end up in a bloodbath.

Support level - $15 and $10
Resistance level - $23 and $30

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