Convex Finance (CVX) Price Prediction 2022 — Will CVX Hit $40 Soon?

Convex Finance (CVX) Price Prediction 2022 — Will CVX Hit $40 Soon?
  • Bullish CVX price prediction is $5.57 to $36.31.
  • The CVX price will also reach $40 soon.
  • CVX bearish market price prediction for 2022 is $3.35.

In Convex Finance (CVX) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about CVX to analyze the future movement of the cryptocurrency. 

Convex Finance (CVX) Current Market Status

According to CoinGecko, the price of Convex Finance (CVX) is $4.79 with a 24-hour trading volume of $15,693,681 at the time of writing. However, CVX has decreased to 1.4% in the last 24 hours. 

Moreover, Convex Finance (CVX) has a circulating supply of 65,027,134 CVX. Currently, CVX trades in cryptocurrency exchanges such as  Binance, Bybit, OKX, MEXC, and Bitget.

What is Convex Finance (CVX)?

Convex Finance (CVX) is an inventive DeFi protocol built on top of stablecoins exchange Curve Finance. Convex rewards Curve liquidity providers and CRV stakers with additional DeFi yields. Convex Finance is a platform for CRV token holders and curves liquidity providers to earn additional rewards and curve trading fees on the tokens. In the future, CVX tokens will also be used for governing Convex Finance.

Convex Finance (CVX) Price Prediction 2022

Convex Finance (CVX) holds the 102nd position on CoinGecko right now. CVX price prediction 2022 is explained below with a weekly time frame.

CVX/USDT Triangle Pattern (Source: Tradingview)

The symmetric triangle chart pattern shows the period of consolidation that may force a price breakdown or breakout. More so, a breakdown from the lower trendline indicates the beginning of a new bearish trend. On other hand, a breakout from the upper trendline signal shows the beginning of a new bullish trend. Traders also use moving averages in conjunction with a symmetrical triangle chart pattern to trail their stop loss. 

Currently, Convex Finance (CVX) is at $4.79. If the pattern continues, the price of CVX might reach the resistance level of $5.08, $5.56, and $6.39 If the trend reverses, then the price of CVX may fall to $3.50, and $3.10.

Convex Finance (CVX) Support and Resistance Levels

The chart below shows the support and resistance levels of Convex Finance (CVX).

CVX/USDT Support and Resistance Level (Source: Tradingview )

From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Convex Finance (CVX).

Resistance Level 1$5.57
Resistance Level 2$10.36
Resistance Level 3$15.63
Resistance Level 4$21.49
Resistance Level 5$36.31
Support Level $3.35
CVX Resistance & Support Level

The charts show that CVX has performed a bullish trend over the past month. If this trend continues, CVX might run along with the bulls overtaking its resistance level at $36.31.

Accordingly, if the investors turn against the crypto, the price of the CVX might plummet to almost $3.35, a bearish signal.

Convex Finance (CVX) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Convex Finance (CVX) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of CVX lies below the cutoff line, indicating weak participants in the current trend.

CVX/USDT RVOL, MA, RSI (Source: Tradingview )

Moreover, the Moving Average (MA) of Convex Finance (CVX) is shown in the above chart. Notably, the CVX price lies above 50 MA (short-term), so it is entirely in an upward trend. Currently, CVX is in a bullish state. There is a possibility of a reversal trend of CVX at any time.

Meanwhile, the relative strength index (RSI) of the CVX is at a level of 59.36 This means that CVX is in a neither oversold nor overbought state. However, this gives confidence to the traders to trade without any fear.

Convex Finance (CVX) Price Prediction 2022 — ADX, RVI

Let us now look Average Directional Index (ADX) of Convex Finance (CVX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

CVX/USDT ADX, RVI (Source: Tradingview )

The above chart represents the ADX of Convex Finance (CVX). Currently, CVX lies in the range of 43.18, so it indicates a strong trend. 

From the above chart, the Relative Volatility Index (RVI) of Convex Finance (CVX). RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of CVX lies above 50, indicating higher volatility. In fact, CVX’s RSI is at 59.36, thus confirming a potential buy signal.

Comparison of CVX with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Convex Finance (CVX).

BTC Vs ETH Vs CVX Price Comparison (Source: Tradingview )

From the above chart, we can interpret ETH, BTC, and CVX are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and CVX also increase or decrease respectively.

Convex Finance (CVX) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  Convex Finance (CVX) might probably attain $46 by 2023.

Convex Finance (CVX) Price Prediction 2024

With several upgrades in the network, Convex Finance (CVX) might enter a bullish trajectory. If the coin grabs the attention of major investors, CVX might rally to hit $58 by 2024. 

Convex Finance (CVX) Price Prediction 2025

If Convex Finance (CVX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, CVX would rally to hit $60.  

Convex Finance (CVX) Price Prediction 2026

If Convex Finance (CVX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, CVX would rally to hit $73. 

Convex Finance (CVX) Price Prediction 2027

If Convex Finance (CVX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, CVX would rally to hit $87. 

Convex Finance (CVX) Price Prediction 2028

If Convex Finance (CVX) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, CVX would hit $91.

Convex Finance (CVX) Price Prediction 2029

If investors flock in and continue to place their bets on Convex Finance (CVX), it would witness major spikes. CVX might hit $103 by 2029.

Convex Finance (CVX) Price Prediction 2030

With greater advancements in the Convex Finance ecosystem, the crypto community might continue to invest in Convex Finance (CVX) for the next 8 years and drive significant price rallies for the token. Hence, Convex Finance (CVX) might hit $118 by 2030.

Conclusion

With continuous improvements in the Convex Finance network, we can say that 2022 is a good year for CVX. For this reason, the bullish price prediction of Convex Finance (CVX) in 2022 is $36.31. On the other hand, the bearish price prediction of Convex Finance (CVX) for 2022 is$ 3.35.

Furthermore, with the advancements and upgrades in the Convex Financeecosystem, the performance of Convex Finance (CVX) might hit $40 gaining investors’ attention. It would also rise to reach above its all-time high (ATH) of $60.09 in the near future.

FAQ

1. What is Convex Finance (CVX)?

Convex Finance (CVX) is an inventive DeFi protocol built on top of stablecoins exchange Curve Finance. Convex rewards Curve liquidity providers and CRV stakers with additional DeFi yields.

2. Where can you purchase Convex Finance (CVX)?

Convex Finance (CVX) has been listed on many crypto exchanges which include Binance, Bybit, OKX, MEXC, and Bitget.

3. Will Convex Finance (CVX) reach a new ATH soon?

With the ongoing developments and upgrades within the Convex Financeplatform, Convex Finance (CVX) has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Convex Finance (CVX)?

On January 1, 2022, Convex Finance (CVX) reached its new all-time high (ATH) of $52.70.

5. Is Convex Finance (CVX) a good investment in 2022?

Convex Finance (CVX) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Convex Finance in the past few months, CVX is considered a good investment in 2022.

6. Can Convex Finance (CVX) reach $35?

Convex Finance (CVX) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Convex Finance (CVX) will hit $35 soon.

7. What will be Convex Finance (CVX) price by 2023?

Convex Finance (CVX) price is expected to reach $46 by 2023.

8. What will be Convex Finance (CVX) price by 2024?

Convex Finance (CVX) price is expected to reach $58 by 2024.

9. What will be Convex Finance (CVX) price by 2025?

Convex Finance (CVX) price is expected to reach $60 by 2025.

10. What will be Convex Finance (CVX) price by 2026?

Convex Finance (CVX) price is expected to reach $73 by 2026.

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.