🔸 $CFX Technical Analysis – Time to Watch the Breakout? 🔍
Conflux (CFX) has been showing signs of renewed momentum as it bounced off a key support near the $0.155–$0.160 zone. The pair recently formed a bullish ascending triangle, hinting at a potential breakout play.
🔹 Price Action:
CFX is currently testing the upper resistance trendline around $0.168–$0.170, a level it has failed to breach multiple times over the past week. A successful breakout above this range could trigger a quick move toward $0.185 and potentially $0.20, which aligns with the previous swing high.
🔹 Indicators:
RSI is currently neutral (~55), giving room for upside without signaling overbought conditions.
MACD has printed a bullish crossover on the 4H chart.
Volume is gradually increasing, supporting a possible breakout scenario.
✅ Entry Idea:
Entry: Buy on confirmed breakout above $0.171 with strong volume
Conservative Entry: Enter on pullback to $0.163–$0.165 (support zone)
Stop-loss: Below $0.158
Targets:
TP1: $0.185
TP2: $0.198–$0.200
📊 Strategy Note:
If CFX breaks above $0.171 with high volume, it could signal the beginning of a bullish breakout leg. Keep an eye on market sentiment and Bitcoin’s behavior, as altcoin performance is often correlated.
#Crypto #CFX #Altcoins #TechnicalAnalysis
