Technical analysis by AliferCrypto about Symbol CVX: Buy recommendation (5/16/2025)

CVXUSDT has been trading in a rectangle with well-defined boundaries since January 2023, and it has recently reclaimed the 1-year EMA, potentially shifting the bias to bullish.Key Levels to Watch• $1.5-$2.0: Main demand zone and invalidation point for any bullish TA if broken• $3.0: 1-year EMA, successfully reclaimed and retested as support• $4.4: Rectangle midline, previously relevant as a S/R• $6.1-$7.2: Main supply zone and upper boundary of the rectangle• $13.0: Previous swing high and rectangle breakout target, which would be confirmed by a weekly close above $7.2 with good volume