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Why Conflux Just Blasted Past $0.10 and Made Short Sellers Cry (But in a Good Way)

BBG News

In what can only be described as a financial fireworks display, Conflux (CFX) decided to remind everyone that it’s still in the business of blowing things up—literally surging 40% in a single day. No, this wasn’t the result of a random flash of genius; it was a perfect storm of on-chain wizardry, technical wizardry, and an ecosystem that’s basically been drinking matcha lattes of ambition. The star of the show? A short squeeze that had short-sellers scrambling faster than a cat in a room full of rocking chairs. Over a million dollars in short positions got vaporized quicker than your weekend plans.

All this, just after the Conflux Ecosystem Conference in Shanghai, where the team decided to drop some serious upgrades—think of it as Conflux going through a crypto version of a spa weekend. They’re talking about a throughput boost up to 15,000 TPS, stablecoin trials that are more stable than grandma’s antique teacups, and plans to integrate real-world assets, making your average Joes and Janes a little richer (or at least mildly interested). Rumors swirling about a yuan-backed offshore stablecoin tied to Belt and Road might just be the reason Chinese markets are suddenly adding CFX to their shopping carts.

All those shiny new things brought attention back to CFX like a dog to a fire hydrant, pushing volume up by 374% and flipping market sentiment turbo-boost style from “meh” to “heck yeah!”

Derivatives and On-Chain Metrics Say ‘Yes, Please!’ to the Rally

Futures open interest erupted like a volcano, increasing 109% in just a day—meaning capital is lining up to take the long road to riches. The long/short ratio is leaning bullish, with funding rates turning positive across the board—Bybit, Binance, OKX—everyone’s onboard the hype train. Traders pulling their coins off exchanges (a.k.a. spot supply declining) seem to be saying, “We believe this rocket’s got fuel.” Active addresses and transactions are surging, too, confirming that the breakout isn’t just a mirage—it’s real, it’s durable, it’s crypto curry on a Friday night.

So, What’s Next? Will CFX Hit $0.30 and then some?

Well, CFX just broke out of its $0.10 shackles like a caffeine-fueled squirrel, supported by a tsunami of daily volume and a close above the 200-day EMA, which is fancy talk for “things look bullish.” It’s now sporting higher highs, a bullish MACD crossover, and RSI enlargements that scream “more, more, more.” The immediate resting spot? $0.145—hold that line, and the bullish train keeps chugging. If prices stay above $0.18 on the weekly chart, next stop: $0.21, maybe even $0.235, and if all goes well, a daring dash to $0.28, where the ghosts of early 2023 might give a nod of approval. But if the price falters below $0.145, don’t be surprised to see a quick shuffle back to $0.12 before things get spicy again.

Meanwhile, the Moving Averages (50 & 200)—those old favorites—are creeping toward a Golden Cross, a fancy phrase for just about everything getting set for a bullish party. RSI’s playing in the overbought sandbox, making a good case that the rally’s far from over. Armed with all this data and some good ol’ Fibonacci magic, catching $0.2736—December 2024’s high—is probably a safe bet. Break that barrier, and who knows? The big prize of $0.30 might just be lurking around the corner, waving hello like an overenthusiastic door-to-door salesman. 🎯🚀

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2025-07-21 09:39

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