CFX/USDT is Set to Hit $0.29 After Breakout
Muhammad Faraz 
CFXUSDT - Bullish Target Set at $0.29 After Breakout
Conflux (CFX) has shown a steady bullish trend in recent sessions, with price consolidating above the $0.20 zone after rebounding from lower support levels. The latest price action suggests a potential move toward the $0.2900 target if momentum continues. This target coincides with a major resistance zone observed on the chart.
Current Price Action
Price has formed a bullish structure on the 4-hour chart, supported by increasing volume and positive sentiment. After a brief retracement from the $0.25 region, the token stabilized near $0.20 and has now resumed upward movement.
Support and Resistance Levels
- Immediate Support: $0.20 – $0.21 (recent breakout zone)
- Next Support Zone: $0.15 – $0.16 (previous consolidation)
- Immediate Resistance: $0.25 – $0.26 (interim barrier)
- Major Target Resistance: $0.2900 (highlighted target zone)
A break above $0.25 could confirm the continuation of the uptrend toward the $0.29 level. Failure to maintain support at $0.20 may lead to a correction toward $0.16.
Technical Indicators
- Trend Direction: Bullish, with higher lows forming since July 29.
- Volume: Increasing buying volume, signaling accumulation.
- Moving Averages: Price is above key moving averages (SMA 50 and SMA 200), reinforcing upward momentum.
- Momentum: Positive; short-term momentum indicators point toward further upside.
Short-Term Outlook
In the short term, if bulls maintain control, CFX/USDT may retest $0.25 and potentially extend toward the $0.2900 target highlighted on the chart. However, traders should monitor volume closely, as decreasing volume near resistance may signal a pullback.
Long-Term Perspective
A confirmed breakout above $0.29 would strengthen bullish sentiment and open the path toward higher psychological levels near $0.35–$0.40. Conversely, sustained rejection below $0.25 could trigger consolidation or correction back to $0.20.
Conclusion
Conflux (CFX) is exhibiting strong bullish behavior, with the $0.2900 target being the next major hurdle for buyers. A sustained move above $0.25 will likely confirm this upward trajectory. Traders should remain cautious of volatility around key resistance zones and use proper risk management.
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