Market Overview for Convex Finance/Tether (CVXUSDT): Volatile 24-Hour Move Amid Mixed Momentum

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Wednesday, Dec 17, 2025 4:27 pm ET1min read
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Aime RobotAime Summary

- CVXUSDT traded between 1.661 and 1.766, closing at 1.707 with $196k turnover.

- Bullish engulfing patterns and oversold RSI signaled buying interest amid bearish divergences.

- Volatility spiked near 15:00 ET, pushing price to 61.8% Fibonacci levels with strong bearish conviction.

- Key support at 1.736 remains critical; breakdown could trigger further declines to 1.717 or below.

Summary
• Price traded between 1.661 and 1.766, with a final 24-hour close near 1.707.
• Notable 5-minute bullish engulfing patterns occurred at 1.73-1.74 and 1.72-1.73.
• RSI suggests oversold conditions in the last 2 hours, with momentum favoring buyers.
• Volume spiked during key breakdowns and rallies, confirming price movements.
• Volatility expanded during the 15:00–16:00 ET window, pushing price near Fibonacci 61.8% levels.

Convex Finance/Tether (CVXUSDT) opened at 1.735 on December 16 at 12:00 ET, reached a high of 1.766, touched a low of 1.661, and closed at 1.707 on December 17 at 12:00 ET. The 24-hour volume was 116,814.466 units, with a total notional turnover of $196,387.

Structure & Patterns


Price action over the 24-hour window displayed a volatile range between 1.661 and 1.766. Key resistance levels formed at 1.75–1.76 and 1.73–1.74, with breakdowns into 1.72–1.70. A bullish engulfing pattern emerged during the 07:45–08:00 ET window at 1.73–1.74, followed by a similar confirmation at 14:45–15:00 ET. A bearish divergence appeared around 15:00–16:00 ET when price fell below key support levels.

Moving Averages and Momentum


Short-term 5-minute averages (20/50) fluctuated within the 1.72–1.75 band, aligning with the choppy intraday action. The daily 50/100/200 SMAs are not fully visible with just one trading day, but price closed near the lower end of the 200-day range, indicating bearish bias. The MACD line crossed into positive territory during the 16:15–16:45 ET rally, but failed to sustain above the signal line. RSI briefly entered oversold territory during the 16:00–16:30 ET leg, signaling potential buying interest.

Volatility and Bollinger Bands


Volatility spiked during the 15:00–16:00 ET window, with price briefly trading at 1.697 (down 5.5% from 1.766). Bollinger Bands expanded as price approached the lower band during this period.
The contraction before the 15:00 ET spike suggested potential for a breakout or breakdown, which occurred as a sharp decline.

Volume and Turnover


Turnover increased sharply during the 15:00–16:30 ET sell-off, with a peak of $19,429.287 in the 16:45–17:00 ET window. Notably, price moved lower in tandem with increased volume during the breakdown into 1.661, suggesting genuine bearish conviction. Turnover confirmed price action during the 16:00–16:30 ET leg and again in the 17:00 ET close.

Fibonacci Retracements


Fibonacci levels derived from the 1.661–1.766 swing suggest key retracement levels at 1.717 (38.2%) and 1.736 (61.8%). Price briefly tested the 61.8% level around 17:00 ET and then fell below, indicating bearish momentum may continue unless buyers reassert above 1.736.

Price appears to be consolidating around 1.707 ahead of the next 24-hour window. If 1.736 fails to hold, further downside into 1.717 or below could follow. Investors should monitor volume at these levels for confirmation or rejection. As always, sharp moves into new support or resistance levels carry increased downside risk.