My beautiful people! 🚀 Are you ready to break down a crypto move that has everyone on high alert?

Let’s see, let’s see, what happened with Conflux (CFX)? In the blink of an eye, it rose 8% in 24 hours! This wasn’t magic; it was pure strategy from those who know how to fish in troubled waters. Imagine that the coin had just come from a 10% drop due to a little ‘hardfork’ issue (like a major update that sometimes scares investors), but the sharp folks, those who see beyond their noses, went shopping as if it were Black Friday. That’s having vision!

The Hardfork Effect and the Cleverness of Buyers 📉💼

The gossip, I mean, the information about the hardfork v3.0.0 of Conflux, arriving on September 1, has shaken many. There were long position liquidations for $1.7 million! People ran away, but in that stampede, the cleverest saw a golden opportunity. Think of it this way: when the price drops, it’s the ideal time to buy cheap! And that’s how it was:

  • $14.23 million was moved to private wallets in just 5 days. That means people are saving their coins!

  • $1.76 million was withdrawn from exchanges in 24 hours, which shouts to us that accumulation is in full swing. It's like when grandma hides money under the mattress, but in digital form!

The Numbers Speak: Technical Analysis to Stay on Track 📊✨

For those who like hard data, CFX stood firm like an oak above the 30-day simple moving average (SMA) ($0.14). That’s a sign that there’s a strong floor supporting it! The 14 RSI is at a neutral point (59.5), which means it’s neither overbought nor oversold, perfect for it to continue its path! And the MACD is almost balanced, showing that selling pressure is easing. Breathe easy!

Conflux in China and its Market Resistance 🇨🇳💪

The coolest part is that CFX rose while the rest of the crypto market fell by 0.95%! This tells us there’s a specific demand for this coin, as if it has its own fan club! And here comes the juicy part: the narrative of Conflux as the only public blockchain with the green light in China, and its stablecoin pilot project, AxCNH, gives it a huge boost. It’s like having the approval stamp of a giant. Imagine the potential!

The recovery of CFX is a battle between the uncertainty of the moment due to a technical update and the long-term confidence investors have in it. Will the improvements from this hardfork and its role in China give it the final push to soar high? Or will those betting against it in derivatives get their way? Only time will tell, but the field is on fire! 🔥$CFX