Convex Finance is Predicted to Reach $ 7.26 By Mar 04, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Convex Finance is up 3.90% today against the US Dollar
• Convex Finance is currently trading 17.90% below our prediction on Mar 04, 2023
• Convex Finance gained 4.77% in the last month and is down -69.35% since 1 year ago

CVX price is expected to rise by 22.06% in the next 5 days according to our Convex Finance price prediction

Convex Finance price today is trading at $ 5.96 after gaining 3.90% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 3.12% in the same time period. CVX performed well against BTC today and recorded a 1.65% gain against the world’s largest cryptocurrency.

According to our Convex Finance price prediction, CVX is expected to reach a price of $ 7.26 by Mar 04, 2023. This would represent a 22.06% price increase for CVX in the next 5 days.

CVX Price Prediction Chart

Buy/Sell Convex Finance

What has been going on with Convex Finance in the last 30 days

Convex Finance has been displaying a positive trend recently, as the coin gained 4.77% in the last 30-days. The medium-term trend for Convex Finance has been bullish, with CVX increasing by 49.91% in the last 3 months. The long-term picture for Convex Finance has been negative, as CVX is currently displaying a -69.35% 1-year price change. On this day last year, CVX was trading at $ 19.45.

Convex Finance reached its all-time high price on Jan 01, 2022, when the price of CVX peaked at $ 60.32. The current CVX cycle high is $ 7.21, while the cycle low is at $ 2.99. CVX has been displaying low volatility recently – the 1-month volatility of the coin is at 6.09. Convex Finance recorded 17 green days in the last 30 days.

Convex Finance technical analysis for today - Feb 27, 2023

The sentiment in the Convex Finance markets is currently Neutral, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 5.74, $ 5.61 and $ 5.52, while $ 5.96, $ 6.05 and $ 6.19 are the key resistance levels.

Neutral sentiment for Convex Finance

14 indicators are currently signaling a bullish prediction for Convex Finance, while 11 indicators are showing a bearish forecast. With 56% of indicators favoring a positive prediction. This results in an overall Neutral sentiment for Convex Finance.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 50 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Convex Finance moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Convex Finance is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Convex Finance is at 46.49, suggesting that CVX is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Convex Finance over the last 50 days. Currently, Convex Finance is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the CVX closing price for the last 200 days. CVX is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Convex Finance prediction

After considering the above factors, we can conclude that the current forecast for Convex Finance price prediction is Neutral. CVX would have to increase by 22.06% to hit our $ 7.26 target within the next five days. Moving forward, it will be important to monitor the CVX market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Convex Finance price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

by coincodex