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FxWirePro- CFTUSD (Chart of the day)

Tue, 30 Jan 2024, 05:14 am UTC

Conflux enables creators, communities, and markets to connect across borders and protocols.

Conflux's consensus is a hybrid mechanism that combines PoW and PoS. PoW miners produce blocks and sort them using the Tree-Graph algorithm, achieving high throughput and scalability.


Transaction per second 3000-6000

Block time- 0.50 seconds

CFTUSD performed well in the past two days.

Any daily close above $0.250 confirms further bullishness.

CFTUSD gained more than 45% in the past five days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $0.250 and is currently trading around $0.2380.

The bullish invalidation can happen if the pair closes below $0.10. On the lower side, the near-term support is $0.20. Any break below targets $0.15/$0.10. Significant downtrend if it breaks $0.080.

The immediate resistance stands at around $0.250. Any breach above confirms bullish continuation. A jump to $0.30/$0.40 is possible. A surge past $0.380 will take it to $0.50.

It is good to buy on dips around $0.20 with SL around $0.10 for TP of $0.40.

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