Recently, #CFX price shot up very strongly, due to the publication of the news that:
#ConfluxNetwork, China's Tier 1 blockchain, announced the launch of #Conflux 3.0 in August and announced plans to help issue a stablecoin pegged to the offshore yuan as China explores the possibility of issuing yuan stablecoins.
The news already reads as “very vague, promising...” but let's remember that we are talking about China, where crypto has been gradually banned since 2013 and finally banned in 2021.
💰 Looking at the
CFXUSDT chart, we see that the price cannot be fixed above $0.19, which means that you should be careful with longs.
📈 If the words from the news are confirmed by actions, then the #CFX price will definitely consolidate above $0.19 and then it will be safe to open a long position.
🐻 And if the desired cannot be realized, then a correction to the $0.085-0.105 zone may become a new reality.
_____________________
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#ConfluxNetwork, China's Tier 1 blockchain, announced the launch of #Conflux 3.0 in August and announced plans to help issue a stablecoin pegged to the offshore yuan as China explores the possibility of issuing yuan stablecoins.
The news already reads as “very vague, promising...” but let's remember that we are talking about China, where crypto has been gradually banned since 2013 and finally banned in 2021.
💰 Looking at the
CFXUSDT chart, we see that the price cannot be fixed above $0.19, which means that you should be careful with longs.📈 If the words from the news are confirmed by actions, then the #CFX price will definitely consolidate above $0.19 and then it will be safe to open a long position.
🐻 And if the desired cannot be realized, then a correction to the $0.085-0.105 zone may become a new reality.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
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🎁 -20% for ALL trading fees at #OKX 👇
okx.com/join/20PSTRADE
🔥 V-I-P 👉 t.me/P_S_trade_menue_bot
🔵 Telegram 👉 t.me/pstrade_eng
🤖 Trading Bot 👉 copytrading.space/en/
📞 t.me/P_S_trades 📝
okx.com/join/20PSTRADE
🔥 V-I-P 👉 t.me/P_S_trade_menue_bot
🔵 Telegram 👉 t.me/pstrade_eng
🤖 Trading Bot 👉 copytrading.space/en/
📞 t.me/P_S_trades 📝
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.