Convex Finance ($CVX ) just broke out above the $2.20 resistance, signaling a possible trend reversal after long accumulation around $2.00.
With volume rising and momentum picking up, CVX could be gearing up for a strong push toward $2.60–$3.00! 💥
📊 Trade Setup:
Entry: $2.25 – $2.30
TP1: $2.40 | TP2: $2.60 | TP3: $2.90
SL: $2.08
DeFi tokens are waking up one by one — UNI, SUSHI, VELODROME… and now CVX joins the party 🎉
🔍 Technical Overview
Convex Finance ($CVX ) has started showing strong recovery momentum after a prolonged consolidation phase near $2.00 support. The price broke above the $2.20 resistance zone with an expanding candle body and rising volume — an early signal of a trend reversal.
Trend: Bullish breakout from accumulation zone
Structure: Higher low formed at $2.03
Volume: Increasing on green candles — demand returning
Momentum: RSI turning up from 50 level, suggesting fresh buying
💡 Why This Setup Works
Accumulation Phase Breakout: CVX held the $2.00 level multiple times — strong base building.
DeFi Sector Rebound: After UNI, SUSHI, and VELODROME rallies, CVX often follows with delayed strength.
Volume Confirmation: Rising trading activity confirms genuine buying pressure.
Clean Market Structure: Clear breakout from resistance with no nearby overhead supply until $2.60+.
⚙️ Trade Management Plan
Move SL to breakeven after TP1 is hit.
Trail stop using 9 EMA (4H chart) for momentum capture.
Add on dips to $2.20 if the zone holds with strong volume.
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