Analysis of Conflux's 41% surge: Is it possible for CFX to reach $0.60?
In the world of cryptocurrencies, Conflux Network (CFX) is making waves. The altcoin, currently trading at $0.26, has shown a significant surge, increasing by 41% in the past 24 hours. This growth has not gone unnoticed, as the trading frequency for CFX at the $0.15 price level reached the "Too Many Retail" threshold, according to CryptoQuant.
The weekly chart of Conflux Network (CFX) exhibits a lot of strength, extending a rise that has been in place for the last two weeks. This bullish trend is further supported by the Trend Strength Index for CFX, which stands at 0.68, indicating a positive trend. After testing the 200EMA at $0.1854 and closing above it, Conflux Network (CFX) shows signs of bullish momentum, supporting a potential price flip of the $0.25 zone. If this momentum sustains, a target around $0.60 is plausible in the near term.
The upcoming upgrade for Conflux Network, which allows for yuan-pegged stablecoins, is likely to bring more liquidity into the market and could potentially accelerate this move toward $0.60 and beyond. This upgrade is being driven by Shanghai-backed firms, with the network targeting about 15K transactions per second (TPS).
However, it's important to note that traders are anticipating a potential price fall following the consistent rally of CFX. If shorts outweigh buys, CFX could experience a short-term sell. Yet, a potential short squeeze is possible due to the dominance of sellers in the Spot and Futures market.
As Conflux Network (CFX) gains more attention, particularly in the Asian market, it's essential to keep an eye on this altcoin. With its bullish trend and upcoming upgrade, Conflux Network (CFX) could be a cryptocurrency to watch in the coming months.
Looking ahead, recent expert forecasts for 2025 suggest a broad price range for Conflux, with lows around $0.05–$0.06 and highs ranging from $0.15 up to $0.35, depending on market conditions and upgrades like the Tree-Graph 3.0 launch. More optimistic predictions suggest Conflux could reach between $0.35 and $0.47 in 2025 if bullish trends continue. Longer-term forecasts (to 2030) are bullish, with potential gains of up to 700% from mid-2025 prices, targeting around $1.75 to $1.95, reflecting wider adoption and network maturity.
In summary, successfully holding above the 200EMA at $0.1854 supports a near-term recovery beyond $0.25, with $0.60 a reasonable upside target if momentum persists. Medium-term price projections for 2025 broadly align with this outlook, though actual prices may fluctuate based on broader market forces and network developments.
- With the bullish trend in Conflux Network (CFX) and an upcoming upgrade allowing yuan-pegged stablecoins, it might be interesting for solana investors to consider technical analysis for potential investing opportunities in crypto finance.
- As Conflux Network (CFX) shows signs of bullish momentum and reaches the "Too Many Retail" threshold, it's essential to be cautious of potential short-term sells amidst the consistent rally, while also keeping an eye on the possibility of a short squeeze.
