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 decentralized blockchain network that enables the development of scalable and secure dApps, with a focus on real-world use cases and enterprise adoption. Conflux’s novel consensus algorithm, called Tree-Graph, allows for faster transaction finalization and higher throughput compared to traditional proof-of-work (PoW) algorithms. Additionally, CFX features a unique multi-chain structure that supports the coexistence of multiple virtual machines (VMs), enabling the deployment of diverse dApps on a single blockchain.
Conflux Price Overview:
As of October 02, 2023, Conflux is trading at approximately 0.1326 USDT. Let’s dive into the detailed price action for CFX-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.1364 |
| High (H) | 0.1399 |
| Low (L) | 0.1281 |
| Close (C) | 0.1326 |
| Volume (C) | 68,826,076.00 |
- Open (O): The opening price for today’s trading session was approximately 0.1364 USDT.
- High (H): Conflux reached a daily high of around 0.1399 USDT.
- Low (L): The daily low for CFX-USDT was approximately 0.1281 USDT.
- Close (C): At the time of analysis, Conflux is trading near its daily close of 0.1326 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -2.79% |
| 3D Change (%) | 1.30% |
| 7D Change (%) | 4.66% |
| 30D Change (%) | 7.72% |
| 90D Change (%) | -33.06% |
| YTD Change (%) | 502.73% |
Over the past three days, CFXUSDT has increased by approximately 1.30%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 4.66%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CFXUSDT maintaining an upward trend of approximately 7.72%, despite intermittent fluctuations. Examining the last 90 days, CFXUSDT has witnessed substantial drop of approximately -33.06%, reflecting strong long-term confidence. Year-to-date, CFXUSDT has steadily increased by around 502.73%, 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 0.47216.
- Momentum score is 0.07717.
CFX USDT Technical Analysis
Conflux Trading Volume:
The trading volume for Conflux (CFX) over the past 24 hours has been significant, with approximately 68,826,076.00 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Conflux is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for CFX-USDT is currently in the neutral zone, around 46.80382. This suggests that Conflux is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Conflux (CFX-USDT) is currently exhibiting signs of short-term bullish 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 neutral RSI and significant trading volume are neutral signals for potential sideways 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.
