Crypviser Weekly Digest
The latest news of May 2 – May 8, 2022
Dear Crypviser community and Followers,
We are introducing you to the latest Crypviser weekly news.
CVNX was listed on CoinMarketCap(CMC)
Finally! The CVNX is live on thee CoinMarketCap
ATTENTION! The total supply of CVNX 300.000.000 is displayed wrong on CMC and should be fixed shortly. The correct total supply of CVNX is 31.000.000, and the maximum supply is 60.000.000
Global Crypto Market
Fear and Greed Index condition: extreme fear (23 points) today, extreme fear (20 points) last week. Funding for margin positions on major coins has become near zero. Bitcoin did not hold the trading range and is now breaking its ascending structure. Bitcoin’s dominance state has declined to 41.82% (a week earlier 42.34%). The alt-season index has declined to 29 points (a week earlier 31 points).
The current crypto market conditions bring new rules for us. Now we expect Bitcoin price movements to the nearest support and resistance levels. This time, there were not many liquidations, which means liquidity gathering may continue. So it is worth sticking to the DCA strategy, which means buying in common ranges in small portions to average the price of your total position.
Huobi CVNX Market (CVNX/BTC)
CVNXBTC continued its downward movement and broke the support level. Whichever way the price goes, it will be severely tested this week. In case it rises to the resistance level, we may have a double-bottom reversal pattern, but if the price reaches the support level, it would be tested by the buyers and hence the interest in the coin on the market.
According to the stochastic RSI, the price is out of the oversold zone.
Volumes are falling along with the price, so we expect traders interest in the token to recover if the market rises.
According to the stochastic RSI, the price is in the oversold zone.
Since the token is in the accumulation phase, it’s expected to pass with reduced volatility next week. If volatility and trading volumes decrease and the price holds the support level, we expect changes in the key trade indicators.
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