CVXUSDT is currently showing a bullish recovery setup on the 1-hour timeframe as price pulls back into a strong demand zone near $1.77. This area has previously acted as support, indicating renewed buyer interest after the recent correction.
The entry price is around $1.774, with price expected to stabilize above this support zone. As long as CVX holds above the demand area, the bullish structure remains intact. On the upside, the first resistance target is $1.902 (Target One), followed by $2.014 (Target Two), which aligns with prior highs and represents a key profit-booking zone.
A stop loss at $1.714 is placed below the demand zone to protect against downside risk. A clean break below this level would invalidate the bullish setup and shift momentum back in favor of sellers.
Summary:
Holding above the demand zone supports a bullish bounce and continuation, while a breakdown below support would turn the outlook bearish. Traders should wait for confirmation near the entry zone for better risk-to-reward.
