🚨 CVX/USDT: The DeFi Yield Aggregator at a Critical Junction! Is a Bounce or Breakdown Imminent? 

Market Outlook: CVX has been in a recent consolidation phase after a significant price correction. The current price is hovering around the $4.04–$4.13 mark, with recent 24-hour performance showing a slight dip. The overall sentiment is cautious, as traders watch to see if the recent lows hold as support.

💡 Futures Trading Plan (Neutral Stance):

🟩 Long Entry Trigger: Wait for a confirmed breakout and candle close ABOVE the resistance level of $4.35 on a higher timeframe (e.g., 4H or Daily) with a significant volume increase. This could signal a reversal of the recent bearish momentum.

💰Targets: $4.50, $4.75, and potentially towards $5.00, based on previous resistance and psychological levels.

🛑Stop Loss: Below the breakout candle's low or below the immediate support at $4.00.

🟥 Short Entry Trigger: Consider a short if the price breaks BELOW the crucial support level around $4.00 with a closing candle on a higher timeframe. This would indicate a continuation of the downtrend.

💰Targets: $3.90, $3.75, and potentially toward the longer-term bottom near $3.50.

🛑Stop Loss: Above the breakdown candle's high or above $4.15.

Your Action Plan:

01 - Wait for Confirmation: CVX is currently in a range-bound area. Avoid entering a trade until a clear breakout or breakdown is confirmed by a candle close on a relevant timeframe.

02 - Use a Stop-Loss: Given the asset's recent volatility, a stop-loss is essential for managing risk and protecting your capital.

03 - Manage Your Risk: Do not over-leverage your position, especially given the recent price swings. Assess your risk tolerance and size your trades accordingly.

📢 What are your thoughts?

Vote: Do you think CVX will hold its support and bounce, or will the selling pressure continue?

Bounce and Recover 🚀

Further Decline 📉

Comment: Share your analysis below!