Updated price action has given me a neutral bias for CFX.
The pullback was deep, and we are looking at 2 scenarios:
Bullish: Leading diagonal which would take wave 5 to the mid-0.30's.
Bearish: A breakdown of the bottom ascending trendline for a new lower low.
While we are between the bottom ascending trendline and the solid green resistance, I don't see any trades to be taken.
📊NEUTRAL: $CFX (1D)
#CFXUSDT | #CFX | #Conflux
Current Price $0.16
Market Cap $777.70M
Change 1h -2.56% | 24h +8.77%
Daily Indicators:
• RSI: 37 - Neutral 🟠
• MACD: -0 - Bearish 🔴
• EMA: 0.19 - Trading Below 🔴
Analysis:
CFX is in a neutral zone after a deep pullback. We’re watching two scenarios: a bullish wave 5 could push the price to the mid-$0.30s, or a bearish breakdown might lead to a new lower low beyond current levels.
Price Targets:
If bullish, aim for mid-$0.30s. If bearish, watch for a dip below $0.16, possibly diving to $0.12 or lower. Let's see which way the wind blows!
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