Market Overview: CVXUSDT 24-Hour Price Action and Behavior

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Saturday, Jan 10, 2026 5:59 pm ET1min read
CVX
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- CVXUSDT formed a bullish engulfing pattern near 2.01 after a sharp decline to 1.977, rebounding to close at 2.033.

- RSI remained neutral near 50 while Bollinger Bands widened, reflecting increased volatility between 1.977-2.033 range.

- 20/50-period moving averages crossed above 2.01 on 5-min chart, with volume peaking at 15,582.13 during key reversal.

- Price may test 2.033-2.04 resistance if buyers re-accumulate, but breakdown below 2.01 could trigger bearish momentum.

Summary
• Price dipped to 1.984 before rebounding to 2.033, forming a bullish engulfing pattern near 2.01.
• RSI hovered near 50, suggesting neutral momentum but no strong overbought or oversold conditions.
• Volatility expanded as Bollinger Bands widened, with increased turnover in late ET hours.
• 20-period and 50-period moving averages on 5-min chart crossed above key support levels.
• Volume spiked in early ET hours, declining after 17:00 ET, with turnover confirming price action.

Convex Finance/Tether (CVXUSDT) opened at 2.022 on 2026-01-09 12:00 ET, reached a high of 2.033, a low of 1.977, and closed at 2.033 on 2026-01-10 12:00 ET. Total volume was 150,643.229, with a turnover of 299,188.4803.

Structure & Formations


Price experienced a sharp decline in the 18:30–19:30 ET window, breaking below a prior support at 2.01, only to reverse and form a bullish engulfing pattern as buyers retook the 2.01–2.03 range. A key resistance at 2.033 held twice, with the most recent close aligning near this level.

Moving Averages and MACD



On the 5-minute chart, the 20-period and 50-period moving averages crossed above 2.01, suggesting short-term bullish momentum. The MACD remained neutral with a slight positive divergence in the morning hours, indicating potential strength if buyers can hold above 2.015.

Bollinger Bands and RSI


Bollinger Bands widened in response to increased volatility, especially after 20:00 ET. Price remained between 1.977 and 2.033, with RSI fluctuating around 50, suggesting no overbought or oversold extremes. The asset may stabilize within this range in the near term.

Volume and Turnover


Trading volume peaked at 15,582.13 at 01:30 ET, coinciding with a bullish reversal from 2.005 to 2.01. Turnover mirrored this pattern, reinforcing the move higher. However, volume declined significantly after 17:00 ET, suggesting waning interest or consolidation.

Convex Finance/Tether may continue to test the 2.033–2.04 resistance level in the next 24 hours if buyers re-accumulate. However, a breakdown below 2.01 could trigger renewed bearish momentum. Investors should watch for confirmation on key levels.