41 % rally shattered by Conflux: Can this CFX lead to $ 0.60? star-news.press/wp

Main meals

Test the price of Conflux Weekly 200ma at $ 0.1854 and close it over it. You will see the face of $ 0.25 that the price is $ 0.60 if CFX maintains this momentum.

The Conflux (CFX) has jumped by 41 % in the past 24 hours, with an increase of 325 % to 628 million dollars, according to L. Coinmarketcap.

According to ReportsConflux was heating its upcoming upgrade, which opens for Stablecoins Yuan-PEGCED.

Shanghai -backed companies were leading this development, targeting the network about 15,000 in TPS.

Source: CoinmarketCap

For this reason, CFX is likely to receive more attention, especially in the Asian market, which gradually adopts the coil’s currency space. So, where will the price move next?

The price of Conflux seeks to $ 0.60

Looking at the price of Conflux, the weekly graph showed a lot of strength. The force has been an extension of the rise in its place in the past two weeks.

Technical analysis showed that the price of CFX closed above 200 mAh at $ 0.16, which confirms this shift.

With CFX trading at $ 0.26, Altcoin was higher than the key resistance at $ 0.25, and this may see that it reaches $ 0.60. The graph showed any resistance in the short term.

In addition, the directional strength index was at 0.68, adding more meeting of the goal. The scale changed his feelings since the end of April when he was -0.82, but he turned to positive in July.

Source: TradingView

Instead, failure to stay above $ 0.25 as the price has spread above, CFX can remain limited to this range. However, the general trend of the CFX price was up.

Retail trading pants accumulate

Since Conflux breaks higher levels, I have noticed the retail sale of the recent ALTCOIN. According to CryptoquantThe trading frequency has reached a “very large retail” tape at $ 0.15, with an increase in the size of the bubbles.

This was reflected in both the period and futures markets.

Meanwhile, the short pressure can be on its way as sellers on the immediate market and futures contracts appear that CVD Taker controls sellers.

This comes at a time when traders expect a decrease in the price after this consistent gathering that does not seem to stop.

Running on these short pants can feed the price in new areas. Also, both derivatives and immediate situations were high temperature, ratifying the size of the size.

Source: Cryptoquant

However, if these short pants exceed the purchases, CFX can be forced to sell short -term. The upgrade that allows Stablecoin’s release can also bring more liquidity in this market.

These short pants can be deterred from changing the direction of movement, which can accelerate the move about $ 0.60 and beyond.