0.17 USD to golden pit! CFX bulls have laid out a shocking trap!!!

Recently, the overall cryptocurrency market has been fluctuating, but CFX has attracted attention at the current price of 0.172 USD. According to the latest data from the Binance platform, the liquidation heatmap for CFX/USDT perpetual contracts shows that a significant market support zone has formed near the current price, with multicolored lines intertwining against a purple background, indicating a fierce battle between bulls and bears at this price level.

From a technical perspective, the K-line chart indicates that CFX has tested the 0.168-0.185 range multiple times between August 26 and 27, particularly around 0.174 USD, where a dense liquidation bar chart appeared. The interleaving distribution of red and green liquidation maps reveals that whenever the price touches above 0.18 USD, bearish pressure significantly increases, while dropping below 0.171 USD triggers bullish bottom-fishing. This pattern of "pressure above and support below" coincides perfectly with the technical indicator of liquidity threshold = 1, suggesting that the market is seeking a new equilibrium.

It is worth noting that CFX has not released any significant announcements recently, but the market dynamics have revealed three key signals: First, a strong support level has formed around 0.17 USD, which highly aligns with the liquidity pool position previously constructed by the project team; second, the liquidation heatmap indicates that a large number of short positions are accumulated in the area above the current price of 0.18 USD, and an effective breakthrough may trigger a chain reaction; third, the continuous appearance of long lower shadows in the K-line chart suggests that funds are picking up at lower levels, and market sentiment has not completely turned pessimistic.

For retail investors, the current price level of CFX hides opportunities and risks. From historical patterns, whenever cryptocurrency assets form a clear liquidation map during a consolidation period, it often signals that a turning point is approaching. However, it is important to be cautious, as the setting of liquidity threshold = 1 means limited market depth, and large transactions may trigger severe price fluctuations. It is recommended to stay attentive but avoid blindly chasing prices up or down, and to wait for the trend to become clear before making decisions.

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