$CVX The price is moving within an ascending channel on the hourly timeframe. It has reached the lower boundary and is heading towards a breakout. A retest of this boundary is expected.

The Relative Strength Index (RSI) indicates a downward trend, and this trend is likely to continue due to the overbought condition.

There is a key resistance zone in green at 1.48, and the price has bounced off it several times, making it a strong support level.

A consolidation trend is observed below the 100-period moving average, which we are approaching. This trend supports a decline towards this level.

Entry Price: 1.75

Target 1: 1.70

Target 2: 1.67

Target 3: 1.62

Stop Loss: At the resistance zone in green.

Remember this simple rule: Manage your money wisely.

For any questions, please leave a comment.

Thank you.

CVX
CVXUSDT
1.713
+5.41%