Conflux hardfork leads to 10 % CFX Drop – here what happened! star-news.press/wp

Main meals

CFX faces conflicting signals after Harvurk: The open interest decreased by 19 %, MacD, and SAR rejected. But five consecutive days of accumulation indicates that the gathering may not end yet.

Conflux (CFX) recently started a big step towards strengthening its network with the upgrade V3.0.0 Hardfork, which comes with an expected deadline on September 1.

the example It includes eight separate proposals to improve conflict (CIPS), collected in three categories: EVM compatibility improvements, to enhance integration with ETHEREUM, error repairs, and the rules modifications of their proof algorithm (POS).

Source: CoinmarketCap

While societal feelings bowed up – as 77.78 % rose – the price decreased more than 10 % in 24 hours, at the time of the press, which exposes a growing division between retail optimism and market work.

CFX liquidity banks

Derivatives trading, however, seems less optimistic. Many are betting on a positive result of the proposed changes.

Nearly $ 11.79 million has come out of the derivative market – a 19 % decrease – which led to compensation for the current open contracts of $ 58.8 million Coinalyze.

Source: Coinalyze

Long -standing positions on Binance carry the loss of losses, with a filter of $ 1.7 million. This transformation reflects the increasing morale in the market.

This external flow of liquidity is in line with technical indicators that indicate more negative risks.

MACD decline as SAR confirms the decline

The difference in the “MACD)” MACD) – a pattern that usually precedes declines in sharp prices.

This happened when the Blue MACD line (0.00282) below the orange signal line (0.00284).

Source: TradingView

The downward pressure does not end there. A shift appeared in the equivalent sar index (stop and reverse), indicating a line of dotted above the current price level.

Although only one point has been formed so far, continuity may confirm the intensification of the sale pressure and indicates that CFX may decrease further.

Can accumulation face the decline?

Not all investors are landing. The immediate market participants seem to view the opportunity as a opportunity to buy.

according to CoinglassThe accumulation was continuing for five consecutive days, as CFX moved at $ 14.23 million to private portfolios.

In the last 24 hours alone, $ 1.76 million was withdrawn from the stock exchanges.

Source: Coinglass

Large transfers of exchanges to private portfolios usually indicate long -term ups, as future gains are expected.

From the point of view of the broader market, this optimism may be justified. CFX has spread a strong strong performance, with 146 % over the past four weeks.

If accumulation continues, the last withdrawal may prove that it is a short -lived correction, which paves the way for another upward move.