The Essentials, My Dear
Conflux price tested the weekly 200EMA at $0.1854 and closed above it. A flip of $0.25 zone would see the price hit $0.60 if CFX sustains this momentum. 🎩✨
Conflux Network [CFX] jumped 41% in the past 24 hours, with volume soaring 325% to $628 million, according to CoinMarketCap. A veritable circus of chaos, if you ask me. 🎪
As per the reports, Conflux was heating up from its upcoming upgrade, which opens for yuan-pegged stablecoins. How delightfully bureaucratic! 🧾
The Shanghai-backed firms were driving this development, with the network targeting about 15K in TPS. Oh, how thrilling to witness the future of finance. 🚀
For this reason, CFX is likely to gain more attention, particularly in the Asian market, which is gradually embracing the cryptocurrency space. Or perhaps it’s just pretending to be trendy. 🌏
Conflux Price Targets $0.60
Looking at the price action of Conflux, the weekly chart was showing a lot of strength. The strength was an extension of the rise that has been in place for the last two weeks. How very… predictable. 📈
Technical analysis showed that the CFX price had closed above the 200 MA at $0.16, confirming this shift. A triumph of numbers, if numbers could cheer. 🎉
With CFX trading at $0.26, the altcoin was above a key resistance at $0.25 and this could see it reach $0.60. The chart showed no near-term resistance. How refreshing! 🧭
Additionally, the Trend Strength Index was at 0.68, adding more confluence for the target to be hit. The metric changed its sentiment since the end of April when it was -0.82 but flipped to positive in July. A dramatic turn, if ever there was one. 🎭
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That said, if these shorts outweigh the buys, CFX could be forced into a short-term sell. The upgrade which allows stablecoin issuance could also bring more liquidity into this market. A lifeline, or a trap? 🕳️
It could deter these shorts from changing its direction of movement, which could accelerate a move toward $0.60 and beyond. A race against time, or a gamble with fate. 🎲
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2025-07-29 20:22