#CVX/USDT : Long-Term Breakout Signals Massive Upside Potentia

#CVX

The price is moving in a descending channel on the 1-hour timeframe. It has reached the lower boundary and is heading towards breaking above it, with a retest of the upper boundary expected.

We have a downtrend on the RSI indicator, which has reached near the lower boundary, and an upward rebound is expected.

There is a key support zone in green at 1.64. The price has bounced from this zone multiple times and is expected to bounce again.

We have a trend towards stability above the 100-period moving average, as we are moving close to it, which supports the upward movement.

Entry price: 1.66
First target: 1.68
Second target: 1.72
Third target: 1.78

Stop loss: Below the support zone in green.

Don't forget a simple thing: capital management.

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Thank you.