CVX’s rebound on the morning of October 31 still looks like a correction when viewed on the weekly chart, not a trend reversal.
Data shows that in CoinCodex’s daily update at 06:00 UTC on October 31, CVX ranked second among the top 200 gainers, up about 9.19% over 24 hours. CoinPaprika’s snapshot for the same day showed a somewhat higher figure: about $2.0117, up around 11.53% over 24 hours, with a market cap of about $198.72 million and 24-hour trading volume of about $14.61 million. The percentage gains differ between the two sources, but the direction is the same, with the price around the $2 mark in both.
Notably, this rebound started from a relatively low point. The 48-hour candlestick chart shows that CVX dipped to around $1.76 on October 30 before gradually recovering to near $2. The broader market did not provide support during the same period: CoinCodex data for that day showed a total market cap of about $2.60 trillion, down around 0.24% over 24 hours, while Bitcoin was around $77,270, down about 1.63%. In other words, CVX outperformed a market that was essentially flat; it was not lifted by the broader market.
Here are the figures for key levels. CoinOTAG’s technical levels at 07:11 UTC on October 31 put the price at about $1.984, the 24-hour range at around $1.88–$2.07, the first resistance at about $2.1284, and the first support at about $1.9304. The RSI (14) was around 41.5, indicating that momentum was not particularly strong. Meanwhile, depending on the source, the 7-day change was around -17% to -21%, so the daily gain has yet to erase the weekly loss. Our search also found no verified, single catalyst for this rebound.
My view: A move above about $2.1284 and holding that level would provide a basis for the rebound to continue; a drop below about $1.9304 would make this rise look more like a one-day move.
This is solely my personal opinion and does not constitute investment advice.
#CVX $CVX
Data shows that in CoinCodex’s daily update at 06:00 UTC on October 31, CVX ranked second among the top 200 gainers, up about 9.19% over 24 hours. CoinPaprika’s snapshot for the same day showed a somewhat higher figure: about $2.0117, up around 11.53% over 24 hours, with a market cap of about $198.72 million and 24-hour trading volume of about $14.61 million. The percentage gains differ between the two sources, but the direction is the same, with the price around the $2 mark in both.
Notably, this rebound started from a relatively low point. The 48-hour candlestick chart shows that CVX dipped to around $1.76 on October 30 before gradually recovering to near $2. The broader market did not provide support during the same period: CoinCodex data for that day showed a total market cap of about $2.60 trillion, down around 0.24% over 24 hours, while Bitcoin was around $77,270, down about 1.63%. In other words, CVX outperformed a market that was essentially flat; it was not lifted by the broader market.
Here are the figures for key levels. CoinOTAG’s technical levels at 07:11 UTC on October 31 put the price at about $1.984, the 24-hour range at around $1.88–$2.07, the first resistance at about $2.1284, and the first support at about $1.9304. The RSI (14) was around 41.5, indicating that momentum was not particularly strong. Meanwhile, depending on the source, the 7-day change was around -17% to -21%, so the daily gain has yet to erase the weekly loss. Our search also found no verified, single catalyst for this rebound.
My view: A move above about $2.1284 and holding that level would provide a basis for the rebound to continue; a drop below about $1.9304 would make this rise look more like a one-day move.
This is solely my personal opinion and does not constitute investment advice.
#CVX $CVX
