Unexpected Altcoin Initiates Significant Buyback Initiative! Reveals Transformative Shift!
Covalent Strategic Reserve Launch: Covalent has announced the creation of the Covalent Strategic Reserve to support the Covalent X Token (CXT), aiming to accumulate about 10% of the total CXT supply over the next few years through on-chain and off-chain revenues.
Buyback Program Details: In 2025, Covalent repurchased a total of 26 million CXT tokens, with over 17 million bought back using off-chain revenue and 9.05 million through automated on-chain buybacks, in an effort to stabilize market volatility for CXT.
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Technical Analysis for CXT
Technical Sentiment Analysis for Covalent X Token (CXT) As of , Covalent X Token (CXT) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for CXT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, CXT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Covalent X Token (CXT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00192 | 0.0033 | 0.00445 | 0.00583 | 0.00698 | 0.00836 | 0.00951 |
| Fibonacci | 0.0033 | 0.00426 | 0.00486 | 0.00583 | 0.00679 | 0.00739 | 0.00836 |
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