Volatility ahead for Conflux: Can CFX explode past $0.23 resistance?

ambcryptoPublicado em 2025-08-03Última atualização em 2025-08-04

Key Takeaways

Conflux saw heightened volatility toward the end of July, with a false breakout from the triangle pattern. As the price approaches the pattern’s apex, the chance of a breakout increases.

Conflux [CFX] was trending higher and had made extraordinary gains in July. The L1 blockchain native token recorded a 297% move from the $0.07 low to the $0.28 high of July.

The swing high could be a sore spot for bullish CFX traders, as the token saw an immediate retracement back toward $0.18 on the 29th of July.

The price action of the past ten days has resembled a consolidation more than a bullish trend. Hence, even though the market structure was in favor of the buyers, traders need to watch out for volatility.

AMBCrypto explained why, with the help of the symmetrical triangle pattern.

The CFX triangle pattern and what it means

CFX 12-hour ChartCFX 12-hour Chart

Source: CFX/USDT on TradingView

Marked in white, the triangle pattern signified the reduction in volatility. Such scenarios are followed by swift price breakouts, and are accompanied by heightened trading volume.

Given the strong gains in July, it appeared likely that this consolidation will be followed by a bullish breakout.

However, there is a small chance that CFX will test the lower trendline, dip below it to fake a breakout before moving higher.

CFX 1-hour ChartCFX 1-hour Chart

Source: CFX/USDT on TradingView

Traders need not worry too much about the drop to $0.18, which is where the lower trendline is around.

Right now, the overhead resistances at $0.218 and $0.23, marked in red, were the key resistances for Conflux to break. Once these levels are flipped to support, swing traders can look to enter long positions.

CFX Liquidation HeatmapCFX Liquidation Heatmap

Source: CoinGlass

The 2-week liquidation heatmap showed that the $0.18 and $0.236 levels were the next key magnetic zones. They lined up very well with the symmetrical triangle pattern.

Due to how close this magnetic zone is to the price, a move to $0.24 and higher is likely in the coming days.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

 

Next: Ethereum rallies 60%, has its best month in years: Will August bring more gains?
Share

Leituras Relacionadas

TRON Sets Transaction and Active Address Records Driven by Stablecoin Settlements

The TRON network achieved new usage records in June, driven primarily by stablecoin settlement activity. Total transactions exceeded 385 million, while active wallet addresses reached 26.9 million. This growth, centered on stablecoins like USDT, highlights a significant shift in on-chain activity and capital flow. The data, sourced directly from Tronscan, provides a concrete, verifiable snapshot of network adoption rather than speculative price movement. While these metrics confirm strong current usage, the report cautions against directly equating them with guaranteed price performance, noting that execution and regulatory risks remain. The development offers a durable data point for assessing where crypto activity is concentrating.

bitcoinistHá 26m

TRON Sets Transaction and Active Address Records Driven by Stablecoin Settlements

bitcoinistHá 26m

TRON Nile Testnet Deploys Quantum-Resistant Signature Cryptography

TRON's Nile testnet has deployed an upgrade implementing quantum-resistant signature cryptography, a proactive step to secure its ledger against potential future decryption threats from quantum computing. This development, confirmed via official sources like nileex.io and github.com, represents a notable Layer 1 security enhancement. The report emphasizes its relevance within the current market focus on stablecoins. Crucially, the upgrade is currently active only on the testnet, not the TRON mainnet. While providing a verified data point for the market to weigh, the article cautions that this single development should be considered alongside broader market factors and does not guarantee any specific price action. It stands as a snapshot of ongoing protocol development.

bitcoinistHá 1h

TRON Nile Testnet Deploys Quantum-Resistant Signature Cryptography

bitcoinistHá 1h

BIS Report Compliance Observations: The True Risks of Stablecoins Go Beyond 'De-pegging'

The BIS report, "Anchoring trust in money: innovation beyond stablecoins," highlights that the primary risks of stablecoins extend beyond potential de-pegging. It argues that the core challenge is whether stablecoins can be integrated into a financial system that is identifiable, monitorable, accountable, and regulatable. While acknowledging efficiency gains like faster payments and programmability, BIS emphasizes that money requires an institutional framework—including legal certainty, liquidity support, and financial integrity controls—which many stablecoins currently lack. The report details compliance risks, noting that while blockchain transactions are transparent, address visibility does not equate to identity or purpose clarity. This creates a systemic risk as pseudonymity, non-custodial wallets, and cross-chain bridges can undermine AML/CFT controls. Furthermore, these risks can spill over into the traditional financial system through on- and off-ramps. The future direction, per BIS, is not to prohibit innovation but to embed regulatory rules—such as identity verification and transaction screening—directly into the technological infrastructure of tokenized finance. The key takeaway for compliance is that any new financial instrument must clearly address questions of customer identification, transaction monitoring, accountability, and cross-border rule consistency to be viable as a mainstream payment tool.

marsbitHá 1h

BIS Report Compliance Observations: The True Risks of Stablecoins Go Beyond 'De-pegging'

marsbitHá 1h

When US Giants Collectively "Defect" to Chinese AI Models

When Silicon Valley Giants Turn to Chinese AI Models to Cut Costs A surprising trend is emerging: major U.S. tech companies are significantly reducing AI costs by switching to Chinese models. Coinbase, the largest U.S. cryptocurrency exchange, reportedly halved its AI spending after migrating to China's GLM-5.2 and Kimi 2.7 models, despite increasing usage. They achieved this through a sophisticated three-part strategy: implementing an automatic routing system to select the most cost-effective model per task, boosting cache hit rates from 5% to 60% to reuse computations, and employing "context engineering" to provide AI with more precise, less cluttered information. They are not alone. AI startup Lindy switched from Claude to DeepSeek, saving millions, while Snowflake's tests found GLM-5.2 solved 66% of coding tasks compared to Claude Opus's 67%—but at a fraction of the cost (output pricing is 5-7 times lower). While the top Western models may offer slightly better stability, the massive price differential is leading many businesses to reconsider their value proposition. This shift signals a deeper change in the AI industry, moving beyond pure performance benchmarks to a fierce cost competition. As pressure mounts, even OpenAI and Anthropic have begun slashing prices. For users, this means more choices, lower costs, and a crucial lesson: using multiple models based on task complexity, optimizing with caching, and keeping contexts lean are now key to leveraging AI efficiently and affordably.

marsbitHá 1h

When US Giants Collectively "Defect" to Chinese AI Models

marsbitHá 1h

BIS Report Compliance Watch: The Real Risks of Stablecoins Are Not Just 'De-pegging'

BIS Report Compliance Observations: The real risks of stablecoins go beyond "depegging" The BIS report "Anchoring trust in money: innovation beyond stablecoins" argues that while stablecoins and tokenization offer efficiency gains, their primary risk lies in fitting into an identifiable, monitorable, accountable, and regulatable financial system. Money's trust stems not just from technology but from institutional arrangements: a common unit of account, guaranteed redemption at par, liquidity support, regulatory frameworks, and financial integrity requirements. Stablecoins, operating on permissionless blockchains with pseudo-anonymity and non-custodial wallets, create systemic compliance gaps: unclear customer identity, incomplete fund origins, unexplained transaction purposes, fragmented cross-chain paths, and ambiguous liability. On-chain transparency does not equal compliance transparency. Public addresses don't reveal identity or intent. While blockchain analytics aid law enforcement, they cannot replace routine, large-scale AML/CFT controls. Effective compliance requires a closed-loop process encompassing customer onboarding, transaction monitoring, investigation, reporting, and audit. Stablecoin risks are not confined to the blockchain; they re-enter the traditional financial system via on/off-ramps, exchanges, and payment institutions. This forces banks to monitor client accounts for activity linked to virtual assets. The future direction is not to prohibit innovation but to embed rules into the technology. Tokenized finance should integrate with the existing two-tier monetary system, embedding compliance—like customer identification, pre-transaction screening, and auditable data trails—directly into the transaction flow. For compliance professionals, the key takeaway is that any new financial instrument must answer core questions: Who identifies the customer? Who monitors transactions? Who handles exceptions? Who is liable? Compliance is not the antithesis of innovation but the essential infrastructure for its sustainable growth.

链捕手Há 1h

BIS Report Compliance Watch: The Real Risks of Stablecoins Are Not Just 'De-pegging'

链捕手Há 1h

Trading

Spot
活动图片

Categorias popularesright-arrow

Etiquetas Popularesright-arrow