Conflux climbs 12% after breaking downtrend: Will CFX push higher?
Conflux (CFX) surged 12% in 24 hours with trading volume exploding over 570%, signaling strong renewed market interest. The price broke out of a multi-month descending channel, indicating a potential shift in market structure as bullish momentum strengthens. Key technical indicators show rising buying pressure, with the +DI line crossing above the -DI line and ADX reflecting trend strength. Exchange outflows of approximately -$39.38K suggest supply tightening as holders accumulate rather than sell. Open Interest jumped nearly 42%, indicating fresh capital entering derivatives markets. CFX now approaches the $0.070 resistance level, and if buying pressure continues, the breakout could support further upside movement.
ambcrypto03/16 13:15
