Home
News
- Conflux was currently at $0.2882, which decreased by 14.36% during the intraday trading session.
- The 24-hour low of CFX was $0.2495 and the 24-hour high of CFX was $0.3449.
- The current Conflux token price is above 20, 50, 100, and 200-Day EMA.
The pair of CFX/BTC was trading at $0.000000005102 BTC with a dip of 5.98% over the intraday trading session.
Conflux price prediction suggests that it is currently in an uptrend after showing a bullish reversal over the daily trading chart. Since the start of 2023, the CFX token was trading near its secondary support of $0.0219. Toward the end of January 2023, the token started rising slowly as can be seen on the chart. But the sudden increase in trading volume and the formation of the bullish candlestick over the daily trading chart helped the CFX token break its primary resistance of $0.0505.
After breaking its primary support, CFX was moving up fast. But after the appearance of a spinning top candlestick pattern with long shadows over the daily trading chart, sellers pushed back the CFX token below its primary resistance of $0.167. But after the appearance of the morning star candlestick pattern over the daily trading chart, the CFX token again started its uptrend.
The volume of the coin fell by 25.07% in the last 24 hours. The decrease in volume indicates that the number of sellers has increased. This shows that sellers are trying their best and there is a relationship between volume and the price of CFX, which represents a weakness in the current bullish phase.
Conflux Price Technical analysis:
RSI is increasing in the overbought zone and is showing a positive crossover which indicates that the buyers are coming in the majority and pushing CFX upwards. This shows the weakness of the current bearish trend. The current value of RSI is 62.74 which is above the average RSI value of 54.12.
The MACD and the signal line are increasing and showing a positive crossover over the daily chart which supports the RSI claims. Investors need to watch every move over the charts during the day’s trading session.
Conclusion
Conflux price prediction suggests that it is currently in an uptrend after showing a bullish reversal over the daily trading chart. Near the end of January 2023, the token started rising slowly as can be seen on the chart. The decrease in volume shows the negative market sentiment towards the CFX token. Both RSI and MACD are increasing and have shown a positive crossover over the daily trading chart which shows strength in the current uptrend, as per the technical indicators. This presents a good opportunity for long traders to enter the market.
Technical Levels-
Resistance level- $0.1677 and $0.2489
Support level- $0.0505 and $0.0219
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
