Our Convex Finance price prediction is that the price of CVX will go up by 8.98% in the next 5 days.
After gaining 3.59% in the last 24 hours, Convex Finance CVX, 3.44%, is now trading at $ 5.33. The coin did better than the cryptocurrency market, which grew by 3.10 percent during the same time period. Today, CVX did well against BTC. It gained 2.70% against the largest cryptocurrency in the world.
Our Convex Finance price forecast says that by October 10, 2022, the price of Convex Finance is expected to be worth $5.81. This would mean that the price of CVX would go up by 8.98% in the next 5 days.
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What has happened in the last 30 days with Convex Finance?
Recently, Convex Finance has been going in the right direction, as the coin has gone up by 2.81% in the last 30 days. The trend for Convex Finance over the last three months has been up, with CVX going up by 19.06%. The long-term outlook for Convex Finance has been bad. As CVX shows a -44.35% change in price over the past year. Last year on this day, CVX was worth $ 9.57.
The highest price ever paid for Convex Finance was $ 60.32 on January 1, 2022, when the price of CVX was at its highest. The cycle high for CVX right now is $8.49, and the cycle low is $3.12. CVX hasn’t been very volatile lately. The coin’s volatility over the past month was 5.86. In the last 30 days, 14 of those were green for Convex Finance.
The technical analysis for today, October 5, 2022, from Convex Finance
At the moment, the mood in the Convex Finance markets is neutral, and the Fear & Greed index shows that there is a lot of fear. The most important support levels are $ 5.03, $ 4.69, and $ 4.49. The most important resistance levels are $ 5.57, $ 5.76, and $ 6.11.
There is nothing good or bad to say about Convex Finance.
At the moment, 15 indicators show a bullish forecast for Convex Finance, and 11 indicators show a bearish forecast. with 58% of signs pointing toward a good prediction. Overall, this makes people feel neutral about Convex Finance.
Fear is very high in the crypto market right now.
The Fear & Greed index is currently at 25 (Extreme Fear), which means investors are worried about the market. The Fear & Greed index is a way to find out how people who invest in cryptocurrencies feel. A “greed” reading could mean that investors are currently optimistic about the cryptocurrency market, but it could also mean that the market is overvalued. A “Fear” reading, on the other hand, shows that investors are nervous about the cryptocurrency market right now, which could be a good time to buy.
Moving averages and oscillators from Convex Finance
Let’s look at what some of the most important technical indicators are telling us. We’ll look at some important moving averages. And oscillators that will help us figure out where Convex Finance is in the market right now.
The Relative Strength Index (RSI) is a widely used indicator. That tells investors whether an asset is currently overbought or oversold. Convex Finance’s RSI 14 is at 59.06, which means that the stock is currently neutral.
The closing price of Convex Finance over the last 50 days. It is used to calculate the 50-day Simple Moving Average (SMA 50). Convex Finance is currently trading below the SMA 50 trendline, which is a sign that the price will go down.
The 200-day Simple Moving Average (SMA 200) is a long-term trendline that is calculated by taking the average of the last 200 CVX closing prices. Now that CVX is trading above the SMA 200, this shows that the market is bullish.
The bottom line on this prediction from Convex Finance:
After thinking about all of these things, we can say that the current price prediction for Convex Finance is Neutral. In the next five days,
Our Convex Finance price forecast says that by October 10, 2022, the price of Convex Finance is expected to be worth $5.81. This would mean that the price of CVX would go up by 8.98% in the next 5 days.
CVX would have to go up by 8.98% for us to reach our $ 5.81 goal. In the future, it will be important to keep an eye on the mood of the CVX market, the key support and resistance levels, and other metrics. But we have to remember that the cryptocurrency markets are unpredictable and that even the biggest crypto assets have a lot of price volatility.
