Conflux skyrocketed thanks to e-CNY testing with China Telecom + Binance volume reached $238M (up 439%)
1. Market Snapshot
→ Current price $CFX : $0.1431
→ 24h: +35.90% (High: $0.1546 | Low: $0.1018)
→ 24h Volume: $238.07M (Binance accounts for 68%)
→ Market cap: $727.59M (#99)
→ Correlation: Distance from ATH $1.70 (-91.64%)
2. News & Narratives
Short-term catalysts:
→ Partnership with China Telecom: integrated e-SIM with CBDC
→ Testnet 3.0 (31/7): Speed +300%, fees -90%
Long-term narratives:
→ Gateway to the Chinese market
→ Tokenomics burning 50% gas fees → reducing supply
3. Technical Analysis
→ Support: $0.135 (EMA50) → $0.120
→ Resistance: $0.1546 → $0.160
→ Indicator: RSI 68 (not overbought)
Scenario:
→ Hold $0.135: Target $0.16
→ Below $0.120: Risk of $0.10
4. Investment Strategy
→ Trader:
- Entry: $0.138 - $0.142
- Target: $0.155 (take profit 50%) → $0.16
- Stoploss: $0.131
→ Holder: Accumulating $0.12 - $0.13
4.1 Risks
→ Liquidity: Volume <$100M → high volatility
→ Legal: Policy volatility in China
→ Competition: VeChain (VET) gaining market share
"Will CFX maintain its upward momentum to reach $0.16 before Testnet 3.0? Or is this just a ‘green trap’ before a sell-off?"
