Hey everyone! Let’s dive into the Conflux (CFX/USDT) chart where a potential short-term bearish setup is emerging. Here’s the friendly lowdown, packed with clarity, strategy, and our signature emoji flair 🚀
---
🔻 1. Chart Setup: Bearish Signals Unfolding
Falling wedge in play? Technical shout-outs suggest CFX recently broke below a key wedge, hinting the bullish reversal may have failed .
Shorting alerts popped off around $0.1217–$0.1187, with downside targets mapped at $0.1128 → $0.1057 → $0.1033, if support zones give way .
---
📉 2. Price Action & Liquidity Zones
CFX is trading near $0.074–$0.078, with 24‑h volume around $20–23 M, signaling ample liquidity for both directions .
On Binance Futures, funding rates remain neutral, though a break below $0.072 could ramp short pressure .
---
⚙️ 3. Macro & On-Chain Updates
Token Burn News: In late April, the foundation announced burning 76 M CFX, potentially tightening supply .
Fundamentals remain mixed: Capped at ~5 B tokens, with staking and ecosystem growth powering utility—but daily volume is down 44% vs. peak, signaling cooling momentum .
---
🧭 4. Short-Term Scenarios & Trade Ideas
Setup Type Entry Point Targets Stop-Loss
⚠️ Bearish Short around $0.1187–$0.1217 $0.1128 → $0.1057 → $0.1033 Above $0.1265 – key invalidation
🔺 Bullish Fallback Long on bounce > $0.085 $0.10 → $0.12 (if breakout) Below $0.072 – strong downside risk
Bearish Case: A failure to reclaim the wedge top around $0.12 could send CFX sliding through support tiers.
Bullish Case: If price reverses and holds above $0.085–$0.09, it may reignite momentum—supported by the token burn and positive on-chain activity .
---
📝 5. What to Watch Right Now
1. Breakdown below $0.072 on high volume—watch for sharp sell-off.
2. Reclamation above $0.085–$0.09 may signal bullish reversal zone.
3. Next major resistances: $0.10 and $0.12. Rejection here sets short tone again.
---
✅ Pro Tips for Binance Square Fam
Short Setup: Consider short entries near $0.12–$0.118 with layered targets toward $0.103, using tight risk control.
Long Opportunity: Prefer to wait for confirmation above $0.085–$0.09 before considering upside plays.
Risk Management: Always set stops—above $0.1265 for short setups, below $0.072 for longs.
---
💬 Over to You!
Do you see short pressure playing out near $0.12?
Are you targeting a bounce around $0.085?
Share your thoughts, strategies, or charts below! Let’s keep it respectful, insightful, and collaboratively constructive—Binance Square style 🙌
---
*✨ Note: This is friendly analysis, not financial advice. Always DYOR and manage your risk. We stick to Binance Square's principles: clear, balanced, and community-focused.*
