Conflux Network is Trading -56.84% Below Our Price Prediction for Feb 28, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Conflux Network is up 6.99% today against the US Dollar
• CFX/BTC increased by 6.77% today
• CFX/ETH increased by 5.36% today
• Conflux Network is currently trading 56.84% below our prediction on Feb 28, 2023
• Conflux Network gained 838.37% in the last month and is up 128.02% since 1 year ago

CFX price is expected to rise by 132.17% in the next 5 days according to our Conflux Network price prediction

Conflux Network price today is trading at $ 0.292788 after gaining 6.99% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 0.50% in the same time period. CFX performed well against BTC today and recorded a 6.77% gain against the world’s largest cryptocurrency.

According to our Conflux Network price prediction, CFX is expected to reach a price of $ 0.678364 by Feb 28, 2023. This would represent a 132.17% price increase for CFX in the next 5 days.

CFX Price Prediction Chart

Buy/Sell Conflux Network

What has been going on with Conflux Network in the last 30 days

Conflux Network has been displaying a positive trend recently, as the coin gained 838.37% in the last 30-days. The medium-term trend for Conflux Network has been bullish, with CFX increasing by 957.63% in the last 3 months. The long-term picture for Conflux Network has been positive, as CFX is currently displaying a 128.02% 1-year price change. On this day last year, CFX was trading at $ 0.128404.

Conflux Network reached its all-time high price on Mar 27, 2021, when the price of CFX peaked at $ 1.72. The current CFX cycle high is $ 0.356792, while the cycle low is at $ 0.021852. CFX has been displaying high volatility recently – the 1-month volatility of the coin is at 79.61. Conflux Network recorded 21 green days in the last 30 days.

Conflux Network technical analysis for today - Feb 23, 2023

The sentiment in the Conflux Network markets is currently Bullish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 0.257452, $ 0.232594 and $ 0.197161, while $ 0.317744, $ 0.353178 and $ 0.378036 are the key resistance levels.

Bullish sentiment for Conflux Network

23 indicators are currently signaling a bullish prediction for Conflux Network, while 5 indicators are showing a bearish forecast. With 82% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Conflux Network.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 56 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Conflux Network moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Conflux Network is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Conflux Network is at 78.76, suggesting that CFX is currently overbought.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Conflux Network over the last 50 days. Currently, Conflux Network is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the CFX closing price for the last 200 days. CFX is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Conflux Network prediction

After considering the above factors, we can conclude that the current forecast for Conflux Network price prediction is Bullish. CFX would have to increase by 132.17% to hit our $ 0.678364 target within the next five days. Moving forward, it will be important to monitor the CFX market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Conflux Network price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

by coincodex