Conflux Price Indicates Upcoming Surge Before 'Tree-Graph' Upgrade
Conflux 3.0 Upgrade Overview
- Launch Date and Features: The Conflux 3.0 upgrade is set to launch on August 31, introducing parallel processing capabilities that will enhance transaction throughput to 15,000 transactions per second, outpacing competitors like Ethereum and Tron.
- Innovative Tools and Partnerships: The upgrade will also feature AI-driven functionalities, tools for cross-border trade, and real-world asset tokenization. A notable partnership with AnchorX will lead to the creation of AxCNH, a stablecoin pegged to the offshore yuan.
Market Performance and Technical Analysis
- Price Movement: Conflux's token (CFX) has surged over 200% from its July lows, coinciding with a broader altcoin rally as Bitcoin reached record highs.
- Technical Patterns: The CFX price chart indicates a cup-and-handle pattern, with a falling wedge suggesting a potential strong rally. The price has shown resilience, remaining above the 50-day and 100-day moving averages, which provide significant support.
Future Projections
- Price Target: The cup-and-handle pattern indicates a potential price surge to $0.488, representing a 157% increase from current levels, following the completion of the handle section of the pattern.
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Technical Analysis for CFX
Technical Sentiment Analysis for Conflux (CFX) As of , Conflux (CFX) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for CFX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, CFX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Conflux (CFX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0177 | 0.029 | 0.0403 | 0.0516 | 0.0629 | 0.0742 | 0.0855 |
| Fibonacci | 0.029 | 0.0376 | 0.043 | 0.0516 | 0.0602 | 0.0656 | 0.0742 |
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