Issued on: 27th Jun’23
Valid up to: 03rd July’23
Token: CFX
Category: Layer-1 Blockchain
Market Cap: $688 Million
Circulating Supply: 2,978,077,493
Total Supply: 5,278,164,274
Price Update:
CFX price at the time of writing (27th June, 16:00) is $0.2304, with a 24-hour volume increased by 3.1% to $83 Million. CFX price is down by 1.21% in the last 24 hours according to coinmarketcap.com.
Source: TradingView
Analyzing the above chart:
- In the 1-Day timeframe, CFX has found support at the 0.5 Fibonacci level (around $ 0.2225) and is expected to rebound and continue its upward trend.
- In the 4-hour time frame, CFX is currently trading above both 55 & 99 EMA. This suggests a positive momentum.
- There has been a noticeable increase in trading volume in CFX, since mid-June, which is considered a positive indicator.
- A Long Trading strategy can be assessed between $0.2282-$0.2312 with invalidation below $0.2191
- On the upside, one can see a rise of 15-20% toward $0.2464 & $0.2747
- It would seem that one should maintain a balanced risk-to-reward ratio and check the use of leverage and position size to ride out current market conditions.
Note: CFX is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade CFX in Futures Market at CoinDCX
Trade CFX in Futures Market at CoinDCX Pro
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