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 platform that utilizes convex optimization algorithms to provide liquidity and stability to the DeFi ecosystem. CVX token holders can participate in governance and earn rewards through its unique staking mechanism. The platform’s innovative design has attracted significant attention from investors and the broader DeFi community, positioning it as a promising player in the rapidly growing decentralized finance space.
Convex Finance Price Overview:
As of October 02, 2023, Convex Finance is trading at approximately 0.00011 BTC. Let’s dive into the detailed price action for CVX-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00011 |
| High (H) | 0.00011 |
| Low (L) | 0.00011 |
| Close (C) | 0.00011 |
| Volume (C) | 2,771.49 |
- Open (O): The opening price for today’s trading session was approximately 0.00011 BTC.
- High (H): Convex Finance reached a daily high of around 0.00011 BTC.
- Low (L): The daily low for CVX-BTC was approximately 0.00011 BTC.
- Close (C): At the time of analysis, Convex Finance is trading near its daily close of 0.00011 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -5.16% |
| 3D Change (%) | -6.71% |
| 7D Change (%) | -6.38% |
| 30D Change (%) | 3.83% |
| 90D Change (%) | -18.73% |
| YTD Change (%) | -44.01% |
Over the past three days, CVXBTC has declined by approximately -6.71%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -6.38%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CVXBTC maintaining an upward trend of approximately 3.83%, despite intermittent fluctuations. Examining the last 90 days, CVXBTC has witnessed substantial fall of approximately -18.73%, reflecting strong long-term confidence. Year-to-date, CVXBTC has steadily depreciated by around -44.01%, 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 0.52094.
- Momentum score is 0.03828.
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 2,771.49 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Convex Finance is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for CVX-BTC is currently in the neutral zone, around 49.61618. 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 bullish 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.
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.
