Resistance

Conflux

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Conflux price (CFX)&nbsp; is down by 7.07% in the past 24 hours and is currently trading at $0.172.</a> </li> 
 <li> <span>2</span> <a>Conflux (CFX) price is consolidating at the swing low after a decline of nearly 50% in the past 2 months.</a> </li> 
</ul> 
<p>Conflux’s price has been in a declining trend for the past 3 months wiping out 42.7% of its total value and lost nearly 9% in the past month. The price seemed to respect a trendline resistance and suffered multiple rejections from the trendline resistance.</p> 
<p>Currently, the CFX price is consolidating in a range near the swing low and failing to get the buyers back. It may invite the selling volume to enter the market and the price may slide to seek support from the lower levels.<br></p> 
<p>Conflux (CFX) is a network that allows other blockchains to communicate and exchange assets with it through ShuttleFlow, a cross-chain bridge. It supports networks like Ethereum, Huobi Eco Chain, and OKEx Chain. It also provides developers with a platform to build dApps that are decentralized, secure, scalable, and compliant with regulations.</p> 
<h2 class="wp-block-heading" id="strong-conflux-price-failed-to-sustain-above-200-ema-strong"><strong>Conflux Price Failed to Sustain Above 200 EMA&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/WWhOaWHzFL7qEbQzmRXdBmWArZj8y2R-FNN3QlPB8oAZ95IBidjfRL4QKW_RqPmdZHYEt-IBtuAA8vbys0nHWa4uGxo4o7nwxGd9q3rWy-Yx947UKwjtqvkvt_ikGteccdB5TElXiEyfsSb8WglTdcY" alt="Conflux Price Prediction: Can Buyer's Failure Attract Sellers?"> 
  <figcaption class="wp-element-caption">
    Source: CFX/USD By <a href="https://www.tradingview.com/x/E9ff22G1/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The short-term outlook for <a href="https://www.thecoinrepublic.com/2023/07/29/conflux-price-prediction-is-it-the-right-time-to-buy-cfx/" rel="noopener noreferrer nofollow">the CFX price</a> stays on the bearish side with a probability of 80% and 20% on the neutral side. Analysts say that the price may slide more and test lower levels in the upcoming days as the price failed to gain the support of buyers near the 200 EMA.&nbsp;</p> 
<p>The long-term outlook for the coin has also inclined with the short-term trend as the price failed to sustain above the 200 EMA and the EMA may act as resistance if the price starts to surge higher.</p> 
<h3 class="wp-block-heading" id="strong-technical-indicators-showing-weakness-in-cfx-coin-strong"><strong>Technical Indicators Showing Weakness in CFX Coin&nbsp;</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/4-M6C5a0V7UnmUBlHiSO0JF3jkzjamUzufCE0WVAlrhVNpJocMqbYpblBUMTtXTjyiHHZTMxKlP5Ft7D_joLHekWgLj0MZu3MH4za525YzkwdO3iYLUk8vOrTJBPV6fb2dAyR-I0UVxZyAgDiPYmUdA" alt="Conflux Price Prediction: Can Buyer's Failure Attract Sellers?"> 
  <figcaption class="wp-element-caption">
    Source: CFX/USD By <a href="https://www.tradingview.com/x/E9ff22G1/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>MACD lines have made a bearish crossover. Also, histogram bars are being formed of insignificant height indicating a loss of momentum in the market.</p> 
<p>The EMA analysis shows that<a href="https://www.thecoinrepublic.com/2023/07/29/conflux-price-prediction-is-it-the-right-time-to-buy-cfx/" rel="noopener noreferrer nofollow"> the CFX price </a>suffered multiple rejections from the 50 EMA indicating the dominance of the sellers in the market. Also, the price could not sustain above the 200 EMA and slid down, turning the long-term trend into a downtrend.</p> 
<p>At the time of publishing, the RSI value of the CFX token is 42.18 and that of the SMA line is 44.86. RSI has gone sideways indicating the consolidation taking place in the daily chart.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Conflux price prediction concludes that the price has been in a declining trend for the past three months, losing 42.7% of its value. It faces resistance from a trendline and is stuck in a range near the low. It may drop further if buyers do not support it. The short-term outlook is mostly bearish and slightly neutral. The long-term outlook is also bearish as the price is below the 200 EMA. Analysts expect the price to test lower levels soon.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $0.17 and $0.139.</li> 
 <li><strong>Resistance levels:</strong> $0.26 and $0.335.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Conflux Price Prediction: Can Buyer’s Failure Attract Sellers?

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Thecoinrepublic.com

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