CFX
Overall Sentiment: Bullish in the long term, with significant upcoming network upgrades (Conflux 3.0 in August/September) and strategic partnerships driving positive sentiment. However, in the very short term, the price has been volatile and is currently facing some bearish pressure after a recent strong rally.
Long Trade:
* Entry Idea:
* Conservative: Wait for a confirmed bounce from a stronger support zone around $0.1900 - $0.2000.
* Aggressive: A sustained break and close above immediate resistance at $0.2300 with strong volume could signal a continuation of the rally.
* Targets:
* Short-term: $0.2400 - $0.2500
* Mid-term: $0.2700 - $0.3000
* Potential stretched target: $0.4000 - $0.4500 (if the Conflux 3.0 upgrade is successful and market sentiment remains strong).
* Stop-Loss (example): Below $0.1850 or $0.1700 (depending on entry and risk tolerance).
Short Trade:
* Entry Idea: If CFX fails to break above $0.2300 and is rejected with bearish confirmation, or if it breaks down convincingly below the key support at $0.2100.
* Targets:
* Short-term: $0.2000 - $0.2100
* Mid-term: $0.1800 - $0.1900
* Stop-Loss (example): Above $0.2350 or $0.2450.
Key Support & Resistance Levels:
* Resistance: $0.2298, $0.2300, $0.2500, $0.2700
* Support: $0.2100, $0.2000, $0.1900, $0.1557