In the past week, CFX has shown significant gains, with some reports citing increases of over 10%. Technical indicators on various trading platforms are currently showing a "buy" or "strong buy" signal for CFX on weekly charts. This is often driven by positive developments like the ongoing Conflux 3.0 upgrade and key partnerships.
Despite the bullish sentiment, it's crucial to acknowledge the risks. The Relative Strength Index (RSI) for CFX has been in an overbought state, which could signal a potential short-term pullback or a consolidation period. Broader market trends, especially Bitcoin's price movement, also have a significant impact on altcoins like CFX. Therefore, while a positive outlook exists, caution is advised.
