• Conflux (CFX) is a native cryptocurrency of the Conflux blockchain that rewards creators and marketplaces for linking globally.
• The current price of CFX is $0.2005, with an all-time high of $1.7038 on March 27, 2021.
• The technical analysis indicators predict that the CFX price might reach $0.2092, $0.2804, or $0.3498 in 2023 if the trend continues, or fall to support at $0.1668 if it reverses.
What is Conflux (CFX)?
Conflux (CFX) is the native cryptocurrency of Conflux, a permissionless Layer 1 blockchain that employs a decentralized economic-driven governance system which rewards creators and marketplaces for linking globally and assuring security and scalability. CFX can be utilized for transaction fees, staking rewards, mining rewards, and network governance.
Conflux (CFX) Current Market Status
Conflux (CFX) ranks 65th on CoinMarketCap in terms of its market capitalization with its current price being recorded at $0.2005 USDT as well as 24 – Hour Trading Volume being at $68,437,591 USDT with 24 – Hour Price Change being 4.07% up and Circulating Supply being 3,070,088,963 CFX with an All – Time High of $1.7038 on March 27th 2021 .
Conflux (CFX) Price Prediction 2023
In this Conflux (CFX) price prediction 2023 , we will analyze the price patterns of CFX by using accurate trader-friendly technical analysis indicators to predict the future movement of the cryptocurrency . In the above chart , Conflux (CFx ) laid out a descending triangle pattern which has a horizontal lower trend line and a descending upper trendline . If the pattern trend continues , then the price of Cfx might reach resistance levels of 0 . 2092 , 0 . 2804 , and 0 . 3498 while if it reverses then it may fall to support at 0 . 1668 USDT .
Technical Analysis Indicators
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) can be used to determine whether Cfx’s trend will continue or reverse in order to make predictions about its potential future movements . The RVOL indicator measures trading volume while MA helps identify trends in prices over time ; RSI compares recent gains against recent losses in order to assess whether an asset is likely to increase or decrease in value soon .
Conclusion
In conclusion , based on our analysis using accurate trader-friendly technical indicators we can make predictions about where Conflux’s price might go in 2023 – either reaching resistance levels between 0 . 2092 – 0 . 3498 USDT should its current pattern continue or falling down towards support level at 0 . 1668 USDT should it reverse direction instead