Conflux (CFX) Price Explodes Over 100%: Bullish Targets at $0.33 Remain Activated
Main Idea
The Conflux (CFX) price surged 40% intraday due to a combination of a short squeeze, ecosystem upgrades, and market speculation, with technical indicators suggesting potential further gains.
Key Points
1. Conflux (CFX) experienced a 40% intraday surge, driven by a short squeeze causing over $1 million in liquidations and renewed market interest.
2. The Conflux Ecosystem Conference in Shanghai announced major upgrades for Conflux 3.0, including a throughput boost to 15,000 TPS and plans for stablecoin trials.
3. Rumors of a yuan-backed offshore stablecoin tied to Belt and Road initiatives contributed to the bullish sentiment.
4. Technical indicators, including a breakout above $0.10 resistance, bullish MACD crossover, and RSI expansion, suggest potential continuation of the rally.
5. Key resistance levels to watch are $0.21, $0.235, and $0.28, with immediate support at $0.145.
Description
The post Conflux (CFX) Price Explodes Over 100%: Bullish Targets at $0.33 Remain Activated appeared first on Coinpedia Fintech News The Conflux (CFX) price shocked the market with a 40% intraday surge, marking one of its most explosive breakouts in recent quarters. This rally wasn’t random—it was powered by a perfect storm of on-chain, technical, and ecosystem-driven catalysts. The most notable was a short squeeze, where a rapid upward price movement forced short-sellers to cover positions, lead...
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