#CFX/USDT Technical Outlook: Can Bulls Sustain the Momentum
The CFX/USDT pair is showing mixed signals on both the 1-hour and 4-hour charts, suggesting potential for both upward and downward movements. On the 1-hour chart, the RSI is at 67.69, indicating that the asset is approaching overbought levels, while the MACD shows a bullish crossover with the MACD line at 0.0032, signaling potential further gains. On the 4-hour chart, the RSI is slightly lower at 63.54, and the MACD, though still positive, is showing a less pronounced momentum with the MACD line at 0.0028.
Bullish Scenario:
If CFX manages to break above the $0.14-$0.15 resistance, it could push toward the $0.17-$0.18 range, supported by the bullish MACD signals and RSI levels that suggest further room for growth.
Bearish Scenario:
Conversely, if the price fails to hold above $0.14, it might retrace to the $0.12 support, and a break below this could lead to a drop to $0.10, with the 200-period moving average on the 4-hour chart acting as a significant resistance.
Disclaimer:
This analysis is provided for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile and can change rapidly. It is essential to conduct your own research and consider your financial situation before making any trading decisions. The author and publisher are not responsible for any losses incurred as a result of trading activities.
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