23. February 2024

CFX Price to Reach $1.5 by 2023? See Our Prediction Now!

• Conflux (CFX) is a permissionless Layer 1 blockchain that rewards creators and marketplaces for linking globally.
• The Conflux price prediction for 2023 is $0.4761 to $1.3569 with the possibility of reaching $1.5 soon.
• Technical analysis indicators such as Relative Volume, Moving Average, and Relative Strength Index show bullish signals in the short-term.

What is Conflux (CFX)?

Conflux (CFX) is a permissionless Layer 1 blockchain that employs a decentralized economic-driven governance system. CFX can be used for transaction fees, staking rewards, mining rewards, and network governance, allowing creators and marketplaces to be rewarded for linking globally and assuring security and scalability.

Conflux (CFX) Current Market Status

The current price of Conflux (CFX) is $0.2005 with 24-hour trading volume at $68,437,591 and 24-hour price change 4.07% up. The circulating supply of CFX stands at 3,070,088,963 while the All-Time High was recorded at $1.7038 on March 27th 2021 .

Conflux (CFX) Price Prediction 2023

In this Conflux (CFX) price prediction 2023 we will analyze the price patterns by using accurate trader friendly technical analysis indicators and predict the future movement of the cryptocurrency . On CoinMarketCap it ranks 65th in terms of its market capitalization . The overview suggests that CFX has formed a descending triangle pattern with resistance levels at $0.2092 ,$0.2804 ,$0.3498 while support level stands at 0 .1668 .

Conflux (CFX) Resistance & Support Levels

The technical analysis indicators such as Relative Volume(RVOL), Moving Average(MA),and Relative Strength Index(RSI)show bullish signals in short term . RSI currently stands at 53% which signifies an upward bias in prices over time . Similarly MA100 line crossed above MA50 line indicating uptrend in Cfx prices in near future . RVOL also suggests strong buying pressure from buyers with an average 2 weeks RVOL standing at 6%.

Conclusion

The technical analysis indicators suggest that prices of Cfx are likely to move higher over long term period . However investors should do their own due diligence before making any investment decisions as there can be no assurance about future performance of cryptocurrencies like Cfx based on past performance or even present situation as crypto markets are highly volatile in nature