CFX USDT Conflux Technical Analysis

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By Frans van Elst

Conflux logo In this Conflux technical analysis, we will examine the current price action, trading volume, key levels and indicators for CFX-USDT. Conflux (CFX) is a high-performance blockchain that utilizes a novel consensus algorithm called Tree-Graph to achieve fast and secure transactions. CFX also features a unique data storage system called the “Data Cloud,” which allows for decentralized data storage and sharing. With its focus on scalability, security, and usability, Conflux (CFX) is poised to become a leading blockchain platform for a wide range of applications.

Conflux Price Overview:

As of May 17, 2024, Conflux is trading at approximately 0.2225 USDT. Let’s dive into the detailed price action for CFX-USDT:

Envision bearish outlook for Conflux (CFXUSDT) at 2.23e-01 USDT with weakened support and cautionary indicators, revealed in technical analysis.

Metric Value
Open (O) 0.217
High (H) 0.2237
Low (L) 0.2156
Close (C) 0.2225
Volume (C) 65,282,899.00
  • Open (O): The opening price for today’s trading session was approximately 0.217 USDT.
  • High (H): Conflux reached a daily high of around 0.2237 USDT.
  • Low (L): The daily low for CFX-USDT was approximately 0.2156 USDT.
  • Close (C): At the time of analysis, Conflux is trading near its daily close of 0.2225 USDT.
Metric Value
1D Change (%) 2.53%
3D Change (%) 13.12%
7D Change (%) 6.87%
30D Change (%) -3.93%
90D Change (%) -4.14%
YTD Change (%) 14.34%

Over the past three days, CFXUSDT has risen by approximately 13.12%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 6.87%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CFXUSDT maintaining a downward trend of approximately -3.93%, despite intermittent fluctuations. Examining the last 90 days, CFXUSDT has witnessed substantial drop of approximately -4.14%, reflecting strong long-term confidence. Year-to-date, CFXUSDT has steadily appreciated by around 14.34%, 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-USDT 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 0.54006.
  • Momentum score is -0.07676.

CFX USDT Technical Analysis

Conflux Trading Volume:

The trading volume for Conflux (CFX) over the past 24 hours has been significant, with approximately 65,282,899.00 USDT 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-USDT is currently in the low zone, around 43.99719. This suggests that Conflux is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Conflux (CFX-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.

Envision bearish outlook for Conflux (CFXUSDT) at 2.23e-01 USDT with weakened support and cautionary indicators, revealed in technical analysis.

Don’t skip our thorough exploration of CFX BTC Conflux Technical Analysis if you resonated with this post; it’s the perfect next step for deeper understanding.

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.

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