Market Overview for Convex Finance/Tether (CVXUSDT)

Summary
• CVXUSDT formed a bullish engulfing pattern near 1.674, followed by a 5.4% rebound to 1.738.
• Volume surged by 58% in the final 4 hours, confirming a breakout from a 1.722–1.731 range.
• RSI reached 59 by 12:00 ET, suggesting moderate momentum but no overbought conditions.
• Price stayed within 1.674–1.738 for 24 hours; Bollinger Bands expanded as volatility rose.
• 20-period MA crossed above 50-period MA late, hinting at potential short-term upside.

24-Hour Price and Volume Summary

Convex Finance/Tether (CVXUSDT) opened at 1.707 on 2025-12-19 at 12:00 ET, peaked at 1.738, and closed at 1.731 on 2025-12-20 at 12:00 ET. The 24-hour trading volume was 156,454.29 units, with a total turnover of $267,907.80.

Structure & Momentum Signals

A key bullish engulfing pattern formed at 1.674 on 2025-12-19 at 18:00 ET, followed by a rapid 5.4% rebound into a tight 1.722–1.731 consolidation before breaking out to 1.738 by 08:30 ET. A doji at 1.738 around 22:45 ET suggested indecision, but strong volume confirmed the breakout. RSI climbed from 41 early on to 59 by close, indicating moderate upward momentum without overbought conditions.

Volatility and Moving Averages

Bollinger Bands expanded as volatility increased from 1.674 to 1.738, with price staying within one standard deviation for most of the day. A 20-period MA crossed above the 50-period MA at 08:30 ET, forming a potential short-term support at 1.727. Daily volume saw a 58% surge in the final 4 hours, with a 3.2x increase in turnover between 00:30 and 04:00 ET.

Pattern and Retracement Levels

The 1.674–1.738 swing showed a 61.8% retracement at 1.712 as resistance, which was tested but not broken. Daily Fibonacci levels from the 1.688 low to 1.738 high suggest 1.724 as a key near-term support. Convex Finance/Tether could continue upward if the 1.738–1.743 level holds as resistance, but a pullback to test 1.722–1.724 may occur if volume slows. Investors should remain cautious of potential volatility shifts and divergences in the next 24 hours.