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CFXUSDT trade ideas

CFX Still A Big MoverSo it has been quite some time since we have discussed CFX and it may be time for our next big move to the upside. CFX is one of those tokens that has a major Asian liquidity backing and tends to have very fast and hard runs followed by grueling long consolidation ranges. For the past months or so we have been stuck in one of those long consolidation ranges but the charts are finally showing some signals we may be ready for the next move to the upside. Looking at our daily oscillator we can see money flow in our current consolidation has been slowly but surely rising. Now we see in our price action a local brake of trend with a higher high and potentially higher low. Our wave trend indicators are also building curvature to the upside. Current trading plan is look for a measured move to the .17 area for a partial take profit with intent to hold for the larger measured move to play out in the .25 area
Long
by Degen-Dynasty
✴️ Conflux Ready To Pop, New High Territory (295-500% Potential)Conflux (CFXUSDT) is trading above EMA200, just moved recently above this level. When this level was conquered as resistance back in January-February this year, it led to a massive bullish explosion. Here we have the play of 0.786 Fib. retracement being tested as support. CFXUSDT challenged this level continually and moved below it for a few weeks just to print a massive recovery. The recovery led to a move and close above EMA200 and thus a long-term bullish bias reactivated. Above this level anything goes. ➖ First, if CFXUSDT moves and closes daily below EMA200, here sitting at 0.16411, this is bearish short-term but the bullish bias remains valid. ➖ The main support is 0.12139 long-term, the 0.786 Fib. retracement level relative to the bullish wave from early 2023. Now we can look up... 👉 85% is the easy target (0.33915). 👉 296% follows (0.72604) and finally 509% (1.11111). Remember to plan ahead of time. Develop a trading strategy or do you whatever you feel you need to do grow and shine. Wishing you tons of luck, health, wealth and success. You deserve the best! Namaste.
Long
by MasterAnanda
3
Conflux (CFX) - Bullish divergence On the above 2-day chart price action has corrected a whopping 97% since the sell signal back in March 2021 at $1.50 (see weekly chart below). A number of reasons now exist to be bullish. They include: 1) Double ‘incredible buy’ signals. Last I saw that it was on Solana in December 2020 @ $1.40. Yeah. 2) Price action and RSI resistance breakout. 3) Price action prints a higher low on on the golden ratio since breakout. A lot of the alt-tokens I’m studying are reproducing this pattern of events. 4) Regular bullish divergence. Multiple oscillators, MACD included, are printing positive divergence with price action. (see BTC pair below). 5) On ‘what if’ list. Not popped yet, obviously. Is it possible price action falls further? Sure. Whomever you are selling after a 97% correction, I salute you. Is it probable? You have to ask? Enjoy them pumped up kicks. Ww Type: trade Risk: <=6% of portfolio Timeframe: 2 to 4 months Return: 30x Weekly chart sell signal 2-day BTC chart
Long
by without_worries
15
CFX/USDT Ready for an Explosive Journey? CFX Analysis💎 Paradisers, take note: CFXUSDT is poised for a potential surge as it teeters on the edge of resistance, suggesting a promising climb may be on the horizon. 💎 Our scrutiny of CFX's movements reveals an attempt to break free from a descending channel, indicative of a bullish turn. Despite a recent setback at the .1782 resistance mark, the potential for an upward break, anchored by the support at .1434, is significant. 💎 On the flip side, if Conflux stumbles in its bid to breach the resistance, we foresee a bullish rebound from the .1434 support zone. 💎Yet, should it dip below this pivotal level, a bearish slide could ensue. Keep a watchful eye and strategize proactively as the situation develops. 💎Hone your trading insights for Conflux with ParadiseFamilyVIP. Dive deeper into our expert perspectives on CFX and other promising tokens, enhancing your crypto strategy.
Long
by MyCryptoParadise_Simon
CFX/USDT - Conflux Network: Trend Reversal◳◱ On the $CFX/ CRYPTOCAP:USDT chart, the Trend Reversal pattern suggests momentum building up for a significant move. Traders might observe resistance around 0.1831 | 0.2104 | 0.2753 and support near 0.1182 | 0.0806 | 0.0157. Entering trades at 0.1662 could be strategic, aiming for the next resistance level. ◰◲ General info : ▣ Name: Conflux Network ▣ Rank: 78 ▣ Exchanges: Binance, Kucoin, Bybit, Gateio, Mexc, Hitbtc ▣ Category/Sector: Infrastructure - Smart Contract Platforms ▣ Overview: Conflux Network is a smart contract platform that features a Turing-complete state machine built atop a high-throughput consensus protocol. Conflux reaches an agreement on transaction validator based on the total order of blocks organized in a Tree-Graph, a novel consensus mechanism that scaling benefits relative to existing blockchains. It also uses Proof-of-Work (PoW) to supplement its Tree-Graph consensus protocol. Conflux has a native token called CFX that serves as the reward for network miners and as a means for paying transaction fees. ◰◲ Technical Metrics : ▣ Mrkt Price: 0.1662 ₮ ▣ 24HVol: 15,561,996.278 ₮ ▣ 24H Chng: 8.203% ▣ 7-Days Chng: 6.76% ▣ 1-Month Chng: 27.71% ▣ 3-Months Chng: -6.14% ◲◰ Pivot Points - Levels : ◥ Resistance: 0.1831 | 0.2104 | 0.2753 ◢ Support: 0.1182 | 0.0806 | 0.0157 ◱◳ Indicators recommendation : ▣ Oscillators: BUY ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : STRONG_BUY ◲◰ Sharpe Ratios : ▣ Last 30D: 2.55 ▣ Last 90D: 0.07 ▣ Last 1-Y: 1.55 ▣ Last 3-Y: 0.44 ◲◰ Volatility : ▣ Last 30D: 1.37 ▣ Last 90D: 1.02 ▣ Last 1-Y: 1.94 ▣ Last 3-Y: 1.85 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is N/A ▣ Reddit sentiment score is 0.62 - Bullish ▣ In-depth CFXUSDT technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF
CFX CRITICAL RESISTANCE LINE AND RISING WEDGEIn this logarithmic chart of BINANCE:CFXUSDT is the near yearly resistance line of the coin. I started to assess this trendline after its pump last week and price consolidation has been observed near on the resistance. Also, sharing this rising wedge pattern below that could be a sign of rejection of the pump and reversal of the uptrend. Presented in yellow arrow line is the bearish divergence from my indicator, RSCD (RSI MACD) forming a lower high and the price forms a higher high. The diagonal support line is also presented. In my view, breakdown can happen but to the point of forming another diagonal support since there would be people who would still want to buy from the pump. But if not, I plotted the potential support lines by using Fibonacci retracement. The coin could enter a reversal but if in case it regains a momentum to breakout on the wedge. I would consider these two potential resistance lines. (1) Currently, the coin has touched the 0.5 resistance level multiple times as it tries to touch again and possibly breakout. With that, consider the 0.618 Fib level. (2) I would also consider the .382 Fib level from its higher high on the daily timeframe. Backtesting this trendline had some events of being a critical trendlines (support and resistance) of the price movement. Overall, based on the structure above, we will see BINANCE:CFXUSDT rejected past the long trendline with a rising wedge pattern on its current movement, favoring a bearish trend. Always PLAN your trades. Happy trading!
Short
by Habadoo