In this Conflux technical analysis, we will examine the current price action, trading volume, key levels and indicators for CFX-BTC. Sure, here are three sentences about Conflux (CFX) cryptocurrency: Conflux (CFX) is a proof-of-stake (PoS) blockchain that utilizes a novel consensus algorithm called Tree-based Leader Election (TLE). This algorithm allows for faster and more energy-efficient transactions compared to traditional PoW algorithms. Additionally, CFX has a unique governance mechanism that enables holders of the cryptocurrency’s native token to participate in decision-making processes related to the blockchain’s development and growth.
Conflux Price Overview:
As of October 02, 2023, Conflux is trading at approximately 0.0 BTC. Let’s dive into the detailed price action for CFX-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.0 |
| High (H) | 0.0 |
| Low (L) | 0.0 |
| Close (C) | 0.0 |
| Volume (C) | 1,194,216.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0 BTC.
- High (H): Conflux reached a daily high of around 0.0 BTC.
- Low (L): The daily low for CFX-BTC was approximately 0.0 BTC.
- Close (C): At the time of analysis, Conflux is trading near its daily close of 0.0 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -2.05% |
| 3D Change (%) | -1.85% |
| 7D Change (%) | -0.62% |
| 30D Change (%) | 0.42% |
| 90D Change (%) | -25.78% |
| YTD Change (%) | 259.40% |
Over the past three days, CFXBTC has decreased by approximately -1.85%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -0.62%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CFXBTC maintaining an upward trend of approximately 0.42%, despite intermittent fluctuations. Examining the last 90 days, CFXBTC has witnessed substantial decrease of approximately -25.78%, reflecting strong long-term confidence. Year-to-date, CFXBTC has steadily increased by around 259.40%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Conflux Live Chart:
You can access a live price chart for CFX-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.41012.
- Momentum score is 0.0042.
CFX BTC Technical Analysis
Conflux Trading Volume:
The trading volume for Conflux (CFX) over the past 24 hours has been significant, with approximately 1,194,216.00 BTC traded against CFX. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): CFX is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Conflux is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for CFX-BTC is currently in the low zone, around 44.66842. This suggests that Conflux is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Conflux (CFX-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
