$CVX

CVX momentum may be weakening, investors need to be vigilant!

Convex Finance (CVX) seems to have stagnated in recent market performance, and its price trend has not shown obvious signs of a breakthrough. Currently, the price of CVX is hovering around $1.99, and continues to be suppressed by the 7-day and 25-day moving averages, which are located at $2.01 and $2.05, respectively, forming a short-term resistance barrier. To make matters worse, the 99-day moving average is hanging above $2.30, further highlighting the multiple resistance dilemma faced by CVX.

Technical analysis is also not optimistic, and the momentum indicator MACD sends a worrying signal. Both lines of MACD are in the negative zone, and the histogram also shows that the momentum is gradually weakening, which indicates that any attempted rise may quickly encounter selling pressure. In addition, the trading volume remains at a relatively low level of only 14.3K, reflecting the cautious attitude of market participants in investing new funds and the lack of market activity.

Although CVX may experience a small rebound in the short term, from the overall trend point of view, unless there is a major positive factor driving it, it will be difficult to get rid of the current bearish pattern. It is particularly noteworthy that if the price falls below the key support level of $1.90, it may trigger more selling behavior and further increase the downward pressure on the market. Therefore, investors should remain highly vigilant and pay close attention to the changes in this key price level so as to respond in time.