2026-01-14 21:21:37

CVX completed the gap fill and has now recovered to multi-month highs, with the chart setup suggesting further upside potential remains in play.

Looking at the longer-term structure, CVX is pushing through a significant volume shelf while completing a multi-year trend breakout—a continuation setup that's been in motion since the COVID lows. The technical picture here looks compelling for those tracking the move.

Historically, CVX topped out at $189.68, which serves as the ultimate reference point for how far this rally could potentially run. Right now, momentum appears to favor higher prices given the confluence of technical factors aligning on the chart.

CVX0,14%

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ForkTongue

· 13h ago

Can the 189.68 level be broken? It feels like this time is really different.

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GasWaster

· 13h ago

ngl the $189.68 target sounds nice but i'll probably fomo in at the worst possible gwei rate anyway... been there, done that, got the failed tx scars to prove it

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LiquidityWitch

· 13h ago

Can that level at 189 be broken? It feels a bit uncertain.

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BackrowObserver

· 14h ago

Breaking through the 189.68 level is essential; right now, the hype is quite intense.

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Layer2Observer

· 14h ago

From the source code perspective, this volume shelf breakout is indeed worth paying attention to, but the historical high of 189.68... let's see if the data support is strong enough before making any conclusions. Technically speaking, a multi-year trend break sounds promising, but one thing needs to be clarified—these "perfect formations" are always prominent in backtests, but the actual movement often tells a different story. Further validation is needed to determine whether this is a genuine breakout or a rebound trap.

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