$CFX
## Recent Highlights on CFX
* **Massive Price Surge**: Over the past two weeks, CFX jumped more than 100%. It briefly reached $0.24 to $0.28, a level not seen in months. This surge was spurred by two key factors: the upcoming Conflux 3.0 upgrade and plans for an offshore-yuan stablecoin related to China’s Belt and Road Initiative ([BeInCrypto][1], [CoinDesk][2]).
* **Technical Breakout Patterns**: Traders spotted a double-bottom at $0.0628 and a bullish "God candle" breakout above the $0.1075 neckline, supported by strong volume. However, RSI levels have shot into overbought territory (80 to 90), suggesting a possible short-term cooldown ([BanklessTimes][3]).
* **Upcoming Hardfork & Sentiment Shift**: A Conflux v3.0 hardfork set for early September will bring EVM compatibility improvements and updates to PoS rules. The immediate market reaction led to a roughly 10% price drop. Derivatives open interest fell about 19%, while on-chain accumulation persisted over five days ([AMBCrypto][4]).
* **Technical Sentiment is Mixed**: Chart analysis indicates resistance around $0.23 to $0.24. If the price cannot reclaim $0.22, it may drop further to $0.20 or even $0.18. Nevertheless, continued volume could still lead to a bullish breakout from a triangle pattern ([AMBCrypto][5]).
## Should You Trade CFX Now?
### Yes – If You're a Short-Term or Swing Trader:
* **Volatility & Catalysts**: The recent price swings and news about the upgrade and stablecoin present trading opportunities if timed correctly.
* **Strategy Idea**:
* Wait for a retest near support zones around $0.20 or $0.22.
* Enter a long position with a tight stop-loss (e.g., below $0.20).
* Set targets near prior highs at $0.24 to $0.28.
* Stay alert for news catalysts, such as updates on Conflux 3.0 or stablecoin launches.
* **Keep Risk in Check**: Manage your position sizes carefully. Avoid following momentum when RSI is over 80, as reversal risks increase ([CryptoNews][7], [BanklessTimes][3]).
### No – If You Prefer Low-Risk or Long-Term Investing:
