In this Convex Finance technical analysis, we will examine the current price action, trading volume, key levels and indicators for CVX-BTC. Convex Finance (CVX) is a decentralized finance (DeFi) platform that utilizes cutting-edge convexity-based algorithms to optimize yield farming and liquidity provisioning. By leveraging the power of convexity, CVX enables users to earn higher returns on their investments while minimizing risk. With its innovative approach and strong development team, CVX is poised to revolutionize the DeFi landscape.
Convex Finance Price Overview:
As of July 02, 2024, Convex Finance is trading at approximately 9e-05 BTC. Let’s dive into the detailed price action for CVX-BTC:
| Metric | Value |
|---|---|
| Open (O) | 9e-05 |
| High (H) | 9e-05 |
| Low (L) | 8e-05 |
| Close (C) | 9e-05 |
| Volume (C) | 350.94 |
- Open (O): The opening price for today’s trading session was approximately 9e-05 BTC.
- High (H): Convex Finance reached a daily high of around 9e-05 BTC.
- Low (L): The daily low for CVX-BTC was approximately 8e-05 BTC.
- Close (C): At the time of analysis, Convex Finance is trading near its daily close of 9e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.38% |
| 3D Change (%) | -0.58% |
| 7D Change (%) | 4.91% |
| 30D Change (%) | -8.95% |
| 90D Change (%) | -25.59% |
| YTD Change (%) | -55.88% |
Over the past three days, CVXBTC has decreased by approximately -0.58%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 4.91%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CVXBTC maintaining a downward trend of approximately -8.95%, despite intermittent fluctuations. Examining the last 90 days, CVXBTC has witnessed substantial fall of approximately -25.59%, reflecting strong long-term confidence. Year-to-date, CVXBTC has steadily dropped by around -55.88%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Convex Finance Live Chart:
You can access a live price chart for CVX-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.44738.
- Momentum score is -0.09619.
CVX BTC Technical Analysis
Convex Finance Trading Volume:
The trading volume for Convex Finance (CVX) over the past 24 hours has been insignificant, with approximately 350.94 BTC traded against CVX. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): CVX is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Convex Finance is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for CVX-BTC is currently in the neutral zone, around 45.67665. This suggests that Convex Finance is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Convex Finance (CVX-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Understand Convex Finance’s (CVXBTC) challenges at 8.55e-05 BTC with detailed bearish technical analysis, highlighting weakened support and cautionary indicators.
Don’t skip our thorough exploration of CVX USDT Convex Finance Technical Analysis if you resonated with this post; it’s the perfect next step for deeper understanding.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.