Bitcuz: Bit Cause Emerging Tech | Crypto News, Insights & IT Technology Blogs
    What's Hot

    Conflux (CFX) Poised for Bullish Momentum: Technical Analysis Suggests Potential Price Surge

    September 17, 2023

    Understanding CSRF (Cross-Site Request Forgery) and How to Prevent It

    September 7, 2023

    Do Programmers Really Need to Understand Architecture?

    August 26, 2023
    Facebook Twitter Instagram
    Bitcuz: Bit Cause Emerging Tech | Crypto News, Insights & IT Technology Blogs
    • HOME
    • TECHNOLOGY
      1. Business
      2. Markets
      3. Insights
      4. View All

      Conflux (CFX) Poised for Bullish Momentum: Technical Analysis Suggests Potential Price Surge

      September 17, 2023

      Rollup Solutions: Comparing ZK Rollup and Optimistic Rollup for Ethereum Scalability

      August 21, 2023

      Cryptocurrency’s Reflexivity: Balancing Logic and Common Sense

      August 20, 2023

      Sei’s Rollercoaster Airdrop Journey: From Sweet Beginnings to Unexpected Turns

      August 20, 2023

      Conflux (CFX) Poised for Bullish Momentum: Technical Analysis Suggests Potential Price Surge

      September 17, 2023

      Cryptocurrency’s Reflexivity: Balancing Logic and Common Sense

      August 20, 2023

      XRP Price Chart ‘Double Bottom’ Puts Next Bullish Target at $1

      March 16, 2021

      NCR Buys Cryptocurrency ATM Firm LibertyX – A Big Deal

      February 1, 2021

      PoS Coins, Lightning, DeFi & DEXes In Danger as US Bill Chaos Intensifies

      January 15, 2021

      Jack Dorsey Says Bitcoin Will Unite The World

      9.1 January 15, 2021

      Hong Kong Customs Arrest Four in Crypto Laundering Bust

      January 15, 2021

      PayPal’s Venmo Allows Credit Cardholders to Buy Crypto

      January 14, 2021

      Understanding CSRF (Cross-Site Request Forgery) and How to Prevent It

      September 7, 2023

      Do Programmers Really Need to Understand Architecture?

      August 26, 2023

      Eternal Frost: Unlimited Overclocking with Subzero CPU Temperatures?

      August 26, 2023

      Understanding Server-Side Rendering (SSR) and its Implementation

      August 24, 2023
    • BUSINESS

      Conflux (CFX) Poised for Bullish Momentum: Technical Analysis Suggests Potential Price Surge

      September 17, 2023

      Rollup Solutions: Comparing ZK Rollup and Optimistic Rollup for Ethereum Scalability

      August 21, 2023

      Cryptocurrency’s Reflexivity: Balancing Logic and Common Sense

      August 20, 2023

      Sei’s Rollercoaster Airdrop Journey: From Sweet Beginnings to Unexpected Turns

      August 20, 2023

      PayPal About to Launch PYUSD Stablecoin: Bridging Cryptocurrency with Traditional Finance and Real Economy

      August 14, 2023
    • SCIENCE
    • INDUSTRY
    • FEATURES
      • Top Ranking
      • Reviews
      • Discussion
      • Issues
      • Contact
    • AI GALLERY
    Bitcuz: Bit Cause Emerging Tech | Crypto News, Insights & IT Technology Blogs
    Home»Business»Crypto»Conflux (CFX) Poised for Bullish Momentum: Technical Analysis Suggests Potential Price Surge
    Crypto

    Conflux (CFX) Poised for Bullish Momentum: Technical Analysis Suggests Potential Price Surge

    brock GBy brock GSeptember 17, 2023Updated:September 17, 2023No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Cryptocurrency trader and investor EliZ¥ has predicted that Conflux (CFX) may see further price increases in the coming days. This follows the altcoin’s recent breakout above a key resistance level, as identified by the trader. However, at the time of the post, the cryptocurrency was trading just below a negative trend line.

    conflux

    4-hour chart for CFX/USDT (Source: TradingView)


    CFX managed to breach a negative trend line that had been forming on its charts over the past 8 hours. Currently, the cryptocurrency is trading slightly below this level after retracing from the high of $0.1264 reached in the most recent 4-hour candle.

    Daily chart for CFX/USDT (Source: TradingView)

    Zooming out to the daily timeframe reveals that a significant short-term bullish technical flag is on the verge of being triggered on CFX’s chart. At the time of the post, the 9-day EMA line was attempting to cross above the 20-day EMA line. If these two technical indicators cross, it will signal a shift in short-term momentum in favor of the bulls.

    As a result, CFX’s price may rise in the next 24-48 hours. If this bullish technical flag is confirmed, the altcoin’s value could potentially reach $0.1400 in the following days, which coincides with the immediate resistance level on CFX’s chart. Furthermore, continued buying support may enable CFX to flip this level into support, paving the way for further gains up to $0.1715.

    On the contrary, failure to close a daily candle above the negative trend line within the next 48 hours would invalidate the bullish thesis. In such a scenario, the altcoin’s price may correct, with CFX potentially dropping to a key support level at $0.1090 in the coming week.

    According to CoinMarketCap, CFX was trading at $0.1218 at the time of this report, marking a 0.87% gain over the past 24 hours. Additionally, CFX has experienced a 34.64% uptick in its daily trading volume, bringing the total to $27,199,875.

    Disclaimer: The views, opinions, and information presented in this price analysis are provided in good faith. Readers are advised to conduct their own research and due diligence. Any actions taken by the reader are strictly at their own risk. Coin Edition and its affiliates shall not be liable for any direct or indirect damages or losses.

    CFX conflux crypto market view
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    brock G

    Developer, crypto enthusiast, and blockchain advocate, I am driven by the convergence of my coding prowess and my deep passion for cryptocurrencies. My journey in the world of blockchain technology has ignited my excitement for its disruptive and transformative potential. Beyond my technical endeavors, I'm also a skilled editor, finely tuning the written word with precision and artistry. Whether it's crafting elegant lines of code or polishing prose to perfection, I find joy in the creative and logical aspects of both worlds and thrive on the challenge of making complex ideas accessible and actionable.

    Related Posts

    Rollup Solutions: Comparing ZK Rollup and Optimistic Rollup for Ethereum Scalability

    August 21, 2023

    Cryptocurrency’s Reflexivity: Balancing Logic and Common Sense

    August 20, 2023

    Sei’s Rollercoaster Airdrop Journey: From Sweet Beginnings to Unexpected Turns

    August 20, 2023

    PayPal About to Launch PYUSD Stablecoin: Bridging Cryptocurrency with Traditional Finance and Real Economy

    August 14, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    Millennials Are Quitting Job to Become Day Traders

    January 20, 2021

    Jack Dorsey Says Bitcoin Will Unite The World

    January 15, 2021

    Hong Kong Customs Arrest Four in Crypto Laundering Bust

    January 15, 2021

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo

    Source for the serious news in mordern technology. Committed to tracking the ever-changing networking, crypto industry, nature and science technology information, grasping the dynamics of the world evolving.

    We're social. Connect with us:

    Links: Cryptonews  Minernav 

    Facebook Twitter Instagram Pinterest YouTube
    Top Insights

    Conflux (CFX) Poised for Bullish Momentum: Technical Analysis Suggests Potential Price Surge

    September 17, 2023

    Understanding CSRF (Cross-Site Request Forgery) and How to Prevent It

    September 7, 2023

    Do Programmers Really Need to Understand Architecture?

    August 26, 2023
    Get Informed

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2023 BITCUZ ALL RIGHTS RESERVED TERMS.

    Type above and press Enter to search. Press Esc to cancel.