The sentiment around Convex Finance (CVX) is very bullish as it is up more than 11% while the rest of the crypto market is down.
CVX has earned a bullish rating on the InvestorsObserver Sentiment Score over the last five days. This score measures a variety of factors which includes the performance of CVX by volume and price movement over the last five days.
This score gives investors a quick summary of the crypto’s performance which could be very useful in the short-term for investors looking to ride a rally as well as for longer-term investors who are trying to buy the dip.
The price of CVX is currently trading above the resistance. With the crypto’s support set at $3.86 and the resistance set at $4.77, CVX could be in a very potentially volatile position if the rally burns out.
Recently, CVX has also traded at a very low volume. In other words, CVX’s volume has been way below its usual average volume seen over the past week or so.
According to CoinMarketCap, on the other hand, CVX’s 24-hour trading volume is up about 165% and is currently standing at $82,846,533.
CVX / TetherUS 1D (Source: CoinMarketCap)
The token’s price currently stands at $5.64 after an 11.96% increase in price over the last day and after reaching a high of $6.22 over the same time period. This price translates to about 0.0002793 BTC and 0.004931 ETH. CVX is also up about 51.89% over the last week.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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Source: Cryptocurrency - investing.com
