FxWirePro- Conflux CFXUSD (chart of the day)

Conflux Network: Building a multi-chain ecosystem to enable creators, communities, and markets to connect globally across borders and protocols. It is a layer 1 blockchain and uses POS and POW for consensus.

PoW miners produce blocks and sort them using the Tree-Graph algorithm, achieving high throughput and scalability. PoS nodes sign pivot blocks to finalize them, which reduces fork probability.

Features

Transaction per second 3000-6000

Block time- 0.50 seconds

CFXUSD showed a minor pullback after a long consolidation.

Any daily close above $0.280 confirms further bullishness.

CFXUSD has been trading in a narrow range between $0.2290 and $0.1600 for the past one month. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $0.2100 and is currently trading around $0.2070.

The bullish invalidation can happen if the pair closes below $0.10. On the lower side, the near-term support is $0.150. Any break below targets $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 $0.15 with SL around $0.10 for TP of $0.35.

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