💥 $CFX Technical analysis and reading of market movement
📉 CFX/USDT is experiencing a sharp decline of -27.02% over the past 24 hours, reaching only $0.1013!
🔍 Technical indicators:
- RSI (6): 6.3 → Very strong selling pressure, indicating a potential near-term rebound or the entry of new liquidity.
- EMA (7): 0.1199
- EMA (30): 0.1456 → Clear negative crossover, confirming the downward trend in the short and medium term.
- MACD:
- DIF: -0.021
- DEA: -0.003
- MACD Histogram: -0.036 → Increasing negative momentum, but nearing the bottom may open the door for a quick rebound.
📰 Latest market news related to CFX:
- No impactful positive news in the past 24 hours, which strengthens the influence of technical analysis on price movement.
- Decreased market liquidity and the absence of strong catalysts contributed to this sharp decline.
- Monitoring any announcements from the Conflux team or new partnerships may be key to a reversal.
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📌 Recommendations for investors:
- For speculators: Monitor support levels at $0.0620, any break may indicate continued decline.
- For medium-term investors: Wait for clear reversal signals from RSI and MACD before entering.
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🔥 Hashtags:
CFX# #BinanceSquare #CryptoAnalysis #RSIoversold #MACDstrategy
