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CFX/USDT - Conflux Network: Trend Reversal◳◱ On the $CFX/ CRYPTOCAP:USDT chart, the Trend Reversal pattern suggests momentum building up for a significant move. Traders might observe resistance around 0.1831 | 0.2104 | 0.2753 and support near 0.1182 | 0.0806 | 0.0157. Entering trades at 0.1662 could be strategic, aiming for the next resistance level. ◰◲ General info : ▣ Name: Conflux Network ▣ Rank: 78 ▣ Exchanges: Binance, Kucoin, Bybit, Gateio, Mexc, Hitbtc ▣ Category/Sector: Infrastructure - Smart Contract Platforms ▣ Overview: Conflux Network is a smart contract platform that features a Turing-complete state machine built atop a high-throughput consensus protocol. Conflux reaches an agreement on transaction validator based on the total order of blocks organized in a Tree-Graph, a novel consensus mechanism that scaling benefits relative to existing blockchains. It also uses Proof-of-Work (PoW) to supplement its Tree-Graph consensus protocol. Conflux has a native token called CFX that serves as the reward for network miners and as a means for paying transaction fees. ◰◲ Technical Metrics : ▣ Mrkt Price: 0.1662 ₮ ▣ 24HVol: 15,561,996.278 ₮ ▣ 24H Chng: 8.203% ▣ 7-Days Chng: 6.76% ▣ 1-Month Chng: 27.71% ▣ 3-Months Chng: -6.14% ◲◰ Pivot Points - Levels : ◥ Resistance: 0.1831 | 0.2104 | 0.2753 ◢ Support: 0.1182 | 0.0806 | 0.0157 ◱◳ Indicators recommendation : ▣ Oscillators: BUY ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : STRONG_BUY ◲◰ Sharpe Ratios : ▣ Last 30D: 2.55 ▣ Last 90D: 0.07 ▣ Last 1-Y: 1.55 ▣ Last 3-Y: 0.44 ◲◰ Volatility : ▣ Last 30D: 1.37 ▣ Last 90D: 1.02 ▣ Last 1-Y: 1.94 ▣ Last 3-Y: 1.85 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is N/A ▣ Reddit sentiment score is 0.62 - Bullish ▣ In-depth CFXUSDT technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF
CFX CRITICAL RESISTANCE LINE AND RISING WEDGEIn this logarithmic chart of BINANCE:CFXUSDT is the near yearly resistance line of the coin. I started to assess this trendline after its pump last week and price consolidation has been observed near on the resistance. Also, sharing this rising wedge pattern below that could be a sign of rejection of the pump and reversal of the uptrend. Presented in yellow arrow line is the bearish divergence from my indicator, RSCD (RSI MACD) forming a lower high and the price forms a higher high. The diagonal support line is also presented. In my view, breakdown can happen but to the point of forming another diagonal support since there would be people who would still want to buy from the pump. But if not, I plotted the potential support lines by using Fibonacci retracement. The coin could enter a reversal but if in case it regains a momentum to breakout on the wedge. I would consider these two potential resistance lines. (1) Currently, the coin has touched the 0.5 resistance level multiple times as it tries to touch again and possibly breakout. With that, consider the 0.618 Fib level. (2) I would also consider the .382 Fib level from its higher high on the daily timeframe. Backtesting this trendline had some events of being a critical trendlines (support and resistance) of the price movement. Overall, based on the structure above, we will see BINANCE:CFXUSDT rejected past the long trendline with a rising wedge pattern on its current movement, favoring a bearish trend. Always PLAN your trades. Happy trading!
Short
by Habadoo
CFX Updated Long Trading PlanCFX along with FET were some of the largest bear market movers indicating they have solid public support. After the current push up in the market tides are clearly rising and likely to continue. For now.... Current Trading plan is look for a pull back that consolidates above our last daily support and resistance flip in the .13-.15 area. IF price makes it all the way down and we have bullish looking oscillator signals a new long position may be in order. Price may or may not make it back to this area but IF it does it will be a good low risk long entry setup for a potential 40+% push to the upside. Price doesn't always come all the way back for a full retest but when it does it presents a trading setup that has a clear location to look for entry and invalidation areas. When buyers are extremely bullish fully discounted prices may not present themselves and as such requires alot more risk. Personally I leave these alone and stick obvious and clear entry and exit setups. This may be one of them.... Trade Well.....
Long
by Degen-Dynasty
#CFXUSDT.P - LONG FIRST / THEN SHORTHello, mates... This evening I'm tracking the #CFXUSDT.P coin. It will be a two-legged trade. In the first leg, I intend to move my long position up to the 0.1770-0.18 band. If it goes as I expect, as the second leg, I will be shorting my position, which I closed in the 0.177-0.18 band, at 0.19 levels, and for 60% of my target, I will try to continue with a trailing stop to drive down as much as I can for the remaining 0.15 level. But 0.13 levels can be a nice target. I hope it goes as I expect... Good Luck My statements are not investment advice!!!!
Long
by Binanciega
CFX Unlocking Potential: Why It's Time to Buy Now!"**Short Fondamental of CFX Crypto** Conflux Network (CFX) is a high-performance, layer-1 blockchain protocol that combines a directed acyclic graph (DAG) structure with a consensus mechanism called Tree-Graph Consensus (TGC). This hybrid architecture allows CFX to achieve high transaction throughput and scalability while maintaining security and decentralization. CFX is designed to be a next-generation infrastructure for decentralized applications (dApps). It offers a number of features that make it well-suited for this purpose, including: * High transaction throughput: CFX can process up to 6,000 transactions per second (TPS), which is significantly higher than other popular blockchains such as Ethereum and Bitcoin. * Low transaction fees: CFX transaction fees are very low, making it a cost-effective platform for users and developers alike. * Scalability: CFX is designed to be scalable to meet the demands of growing dApps. It can handle millions of concurrent users without sacrificing performance. * Security: CFX uses a number of security features to protect its network and users, including a DAG structure, TGC consensus mechanism, and multi-signature wallets. **Recent News of CFX Crypto** Here are some recent news and developments related to CFX crypto: * On October 11, 2023, Conflux Network announced a partnership with the Chinese government-backed blockchain consortium BSN. This partnership will give CFX access to BSN's network of over 100 million users and 1,000+ enterprise nodes. * On October 17, 2023, Conflux Network launched its mainnet 3.0 upgrade. This upgrade included a number of improvements, such as increased transaction throughput, reduced transaction fees, and improved security. * On October 20, 2023, Conflux Network announced a partnership with the Web3 infrastructure provider Ankr. This partnership will make it easier for developers to build and deploy dApps on the Conflux Network. **Disclaimer** However, I am not able to provide financial advice. If you are considering investing in CFX or any other cryptocurrency, please do your own research and consult with a financial advisor.
Long
by MoonTradingForecast
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