Market Overview for Convex Finance (CVXUSDT)

• Convex Finance (CVXUSDT) traded in a 24-hour range of $4.13–$4.60, closing near the lower end at $3.99.
• A bearish breakdown below key support at $4.20 intensified selling pressure, with volume surging in the final hours.
• RSI and MACD show oversold conditions, hinting at potential near-term consolidation or a bounce.
• Volatility expanded significantly in the last 6 hours, with price touching the lower Bollinger Band.
• Fibonacci retracements suggest $3.90–$4.05 as possible short-term support and $4.20–$4.35 as near-term resistance.

Opening Summary

Convex Finance (CVXUSDT) opened at $4.518 on 2025-07-17 12:00 ET and closed at $3.99 by 12:00 ET the next day, with a high of $4.60 and a low of $3.93. Total 24-hour volume amounted to 2,991,281.34, and turnover reached $12.57 million, indicating strong liquidity and interest.

Structure & Formations

Price action revealed a clear breakdown from the $4.40–$4.60 consolidation range, with a bearish engulfing pattern forming around $4.40–$4.34 on 2025-07-18 00:30 ET. A key support level at $4.20 was tested and broken, triggering further downside. A doji formed near $4.16, suggesting short-term indecision. Fibonacci retracement levels from the $4.20–$4.60 swing indicate potential support at 38.2% ($4.37) and 61.8% ($4.30), while resistance sits at $4.45–$4.50.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have both turned downward, with price currently trading below both. The daily chart shows the 50-period MA at $4.40, 100-period at $4.45, and 200-period at $4.38—indicating a bearish bias. Price has moved significantly below the 200-day MA, a bearish sign for longer-term holders.

MACD & RSI

The MACD crossed below the signal line early on 2025-07-18, confirming bearish momentum. RSI reached oversold territory below 30 for several hours, suggesting the market may be due for a short-term bounce or consolidation. However, RSI has not shown a convincing reversal signal yet, so caution is warranted.

Bollinger Bands

Volatility expanded significantly in the last 6 hours, with the bands widening from a narrow contraction earlier in the day. Price has spent much of the session near or below the lower Bollinger Band, a sign of bearish exhaustion. If price remains below the 20-period MA and fails to close above the middle band, further downside could be likely.

Volume & Turnover

Volume spiked in the final 6 hours, with the largest bar occurring at 2025-07-18 14:15–14:30 ET, where over 124,573 units changed hands. Turnover also surged during this period, confirming the bearish breakdown. Price and turnover are aligned in the move lower, indicating conviction from sellers rather than a divergence.

Forward-Looking View

In the next 24 hours, Convex Finance (CVXUSDT) may test key support at $3.90–$4.05 and could see a short-term bounce from oversold RSI levels. However, a sustained move above $4.20 would be needed to reverse the bearish bias. Investors should watch for a rejection at $4.20 or a failure to hold above $4.05 as key signals. As always, market sentiment and broader crypto trends could override technical levels.