CVX surged 28.5% in one day? Understand the starting point of this DeFi yield token wave

【Crypto World】Convex Finance’s CVX token has been making significant moves recently. It surged by 28.5% within 24 hours, with daily trading volume skyrocketing 12 times, successfully breaking through the $2.00 psychological barrier that had been suppressed for months.

From a technical perspective, the current signals are indeed bullish. Looking upward, $2.32 and $2.90 are two key resistance levels. Some have drawn a coincidence with Chevron’s stock, but industry analysts generally believe that the true drivers behind this rally are twofold: first, the overall revival of meme coin sentiment; second, CVX’s tangible value as a yield optimization protocol reflected in its fundamentals.

Traders are more focused on potential pullback opportunities. If the price drops back to around $1.90, that could be a good entry point. In other words, this rally is not only a technical breakout but also reflects a recovering demand for yield optimization tools in the DeFi sector. However, risk management is still essential, as the market moves very quickly.