1️⃣ Quick Insight:
CVX has caught my attention again—been watching it from the early days and now it’s starting to show strength, both on spot and futures. Current structure and sentiment are looking solid for a potential upside move.
2️⃣ Trade Parameters:
Bias: Long
Entry: Current market price
Stop Loss: $2.41
TP1: $4.75
TP2: $5.48
TP3: $5.76
TP4: $6.85
Partial Exit: Watching $4.17 closely as a short-term resistance area that could act as a milestone
3️⃣ Key Notes:
Let’s break down what CVX (Convex Finance) is. It's a DeFi protocol built on top of Curve Finance, aiming to optimize yield and boost capital efficiency. What makes it unique is that it allows users to earn boosted CRV rewards and CVX token incentives without locking up their CRV, which simplifies staking and governance participation.
CVX operates on Ethereum Layer 2, with its key partnership being with Curve. The team behind it remains anonymous, but the project is strongly community-driven.
From a market structure point of view, CVX has been showing strong spot interest and its footprint on futures markets has been growing. This confluence adds conviction to the trade idea. The structure suggests it wants to push toward $4.17 first, and if that breaks, there’s room to ride it further.
4️⃣ Follow-up:
If price confirms with good momentum past the $4.17 zone, I’ll consider updating this with a new scale-in or extended target. For now, just watching closely and ready.
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Disclaimer: This is not a financial advise. Always conduct your own research. This content may include enhancements made using AI.
✅Buy and Trade here on $CVX