CFX Breakout : Rally Ahead or False Alarm?
#CFX_LONG #CFX/USDT.P #Conflux #Write2Earn!
After months in a descending channel, Conflux (CFX) broke out, bouncing off its key support zone at $0.130–$0.138. The breakout could signal a bullish rally, but traders should remain cautious as a retest of this support is likely.
Immediate Resistance : $0.226 – Clearing this could propel CFX to the next major resistance at $0.250.
Bearish Risk : A drop below $0.113 would invalidate bullish momentum, signaling deeper corrections.
Momentum Signs : Rising volume and 20EMA alignment favor bulls, but confirmation is essential.
Pro-Tip for Investors :
Entry :
Look for a sustained breakout above $0.226 with strong volume.
Risk Management :
Place stop-loss near $0.130 to limit downside exposure.
Conclusion :
CFX shows promise, but patience is key. Monitor retests and resist FOMO to make informed decisions.