CVXUSDT Tests 2.012 Resistance Amid Surging Volatility and Bullish Signals

Summary
• CVXUSDT traded in a 1.943–2.012 range, forming key support at 1.943 and resistance at 2.012.
• A bullish engulfing pattern emerged at 1.992–2.006, indicating potential short-term strength.
• MACD crossed above zero with positive divergence, while RSI hovered near overbought territory.
• Volatility expanded after 11:30 ET, with Bollinger Bands widening and price approaching the upper band.
• Turnover spiked to $66k at 1:00 PM ET, coinciding with a sharp drop to 1.991 after a high of 2.012.

Convex Finance/Tether (CVXUSDT) opened at 1.983 on 2026-02-13 at 12:00 ET and closed at 1.992 on 2026-02-14 at 12:00 ET, with a high of 2.012 and a low of 1.943. The pair saw total volume of 32,993.06 and turnover of $66,016.20 over the 24-hour period.

Structure & Formations

The 5-minute OHLCV data revealed a key swing low at 1.943, which held as a strong support level throughout the session. A later swing high at 2.012 acted as a resistance, with a bearish rejection observed at 11:45 ET. A bullish engulfing pattern formed between 1.992 and 2.006, signaling a potential reversal toward the upside. A long-legged doji appeared near 1.967, indicating indecision around the mid-range.

Moving Averages

On the 5-minute chart, price closed above the 20-period and 50-period moving averages, suggesting short-term bullish momentum. On the daily chart, the 50-period MA is currently at 1.976, slightly above the 100- and 200-period MAs, indicating a tentative near-term uptrend.

Momentum and Volatility

The RSI reached 64.8 at the 24-hour close, suggesting the pair may be approaching overbought territory. MACD showed a positive crossover above zero, with divergence indicating momentum could persist. Bollinger Bands expanded after 11:30 ET, with price testing the upper band at 2.012 and bouncing off the lower band at 1.943, suggesting increased volatility.

Volume and Turnover

Volume spiked to 32,993.06 at 1:00 PM ET, coinciding with a sharp drop from 2.002 to 1.991. Turnover confirmed the volume spike at $66k, aligning with the price drop. A divergence appeared at 7:15 Am ET, where price rose but turnover declined, suggesting waning conviction.

Fibonacci Retracements

Applying Fibonacci levels to the 1.943–2.012 swing, price tested the 61.8% retracement at 1.983 during the consolidation phase. On the daily chart, the 38.2% retracement is at 1.983 and could act as a near-term support.

Price may continue to test the 2.012 resistance in the next 24 hours, but the 1.943–1.983 range appears structurally important. Traders should remain cautious of potential pullbacks, especially if volume fails to confirm further advances.