CVXUSDT One Resistance to beat before Fib gap filling

CVXUSDT is trading within a Channel Up on the 4H time-frame since the January 27 bottom. On Feb 16 and 09 it got rejected on the 31.00 Resistance, which is currently the level to beat in order to turn bullish on the longer term.

Even though it has also been rejected on the 4H MA200 (orange trend-line), the important of the 31.00 Resistance is so established that I believe if it breaks, the Channel Up Higher Higher will also break and CVXUSDT will fill the first Fibonacci retracement level (0.382) at 37.55. A 1D closing above it should bring a bullish extension on the 0.618 Fib (47.30) and naturally a complete recovery at 63.00 should occur next on the long-term despite the usual profit-taking pull-backs in between.





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