- Bullish CFX price prediction for 2023 is $0.4709 to $1.3480.
- Conflux (CFX) price might reach $3 soon.
- Bearish CFX price prediction for 2023 is $0.0492.
In this Conflux (CFX) price prediction 2023, 2024-2030, we will analyze the price patterns of CFX by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS |
INTRODUCTION |
|
CONFLUX (CFX) PRICE PREDICTION 2023 |
|
| CONFLUX (CFX) PRICE PREDICTION 2024, 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
Conflux (CFX) Current Market Status
| Current Price | $0.1291 | 24 – Hour Price Change | 1.20% Down |
| 24 – Hour Trading Volume | $32,149,820 |
| Market Cap | $409,085,198 |
| Circulating Supply | 3,167,898,788 CFX | All – Time High | $1.70 (On Mar 27, 2021) |
| All – Time Low | $0.02191 (On Jan 01, 2023) |
What is Conflux (CFX)
| TICKER | CFX |
| BLOCKCHAIN | Conflux |
| CATEGORY | Permissionless Layer-1 Blockchain |
| LAUNCHED ON | 2018 |
| UTILITIES | Governance, Fast Transactions, gas fees & rewards |
CFX is the native cryptocurrency of Conflux. Conflux is a permissionless Layer 1 blockchain that employs a decentralized economic-driven governance system. Conflux rewards creators and marketplaces for linking globally and assuring security and scalability. CFX can be utilized for transaction fees, staking rewards, mining rewards, and network governance.
Conflux 24H Technicals
(Source: TradingView)
Conflux (CFX) Price Prediction 2023
Conflux (CFX) ranks 80th on CoinMarketCap in terms of its market capitalization. The overview of the Conflux price prediction for 2023 is explained below with a daily time frame.
CFX/USDT Descending Channel Pattern (Source: TradingView)
In the above chart, Conflux (CFX) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form within longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of Conflux (CFX) was recorded at $0.1291. If the pattern trend continues, then the price of CFX might reach the resistance levels of $0.1680, $0.2281, $0.3386, and $0.4952. If the trend reverses, then the price of CFX may fall to the support of $0.1176.
Conflux (CFX) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Conflux (CFX) in 2023.
CFX/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Conflux (CFX) for 2023.
| Resistance Level 1 | $0.4709 |
| Resistance Level 2 | $1.3480 |
| Support Level 1 | $0.1136 |
| Support Level 2 | $0.0492 |
CFX Resistance & Support Levels
Conflux (CFX) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (CFX) are shown in the chart below.
CFX/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Conflux (CFX) market in 2023.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $0.1820Price = $0.1271 (50MA> Price) | Bearish/ Downtrend |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 23.54 <30 = Oversold 50-70 = Neutral>70 = Overbought | Oversold |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak volume |
Conflux (CFX) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Conflux (CFX) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
CFX/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Conflux (CFX).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 17.7629 | Weak Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 11.71 <50 = Low >50 = High | Low volatility |
Comparison of CFX with BTC, ETH
Let us now compare the price movements of Conflux (CFX) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs CFX Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of CFX is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of CFX also increases or decreases respectively.
Conflux (CFX) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Conflux (CFX) between 2024, 2025, 2026, 2027, 2028, 2029, and 2030.
| Year | Bullish Price | Bearish Price |
| Conflux (CFX) Price Prediction 2024 | $3.8 | $0.9 |
| Conflux (CFX) Price Prediction 2025 | $4.4 | $0.99 |
| Conflux (CFX) Price Prediction 2026 | $5.1 | $1 |
| Conflux (CFX) Price Prediction 2027 | $6.4 | $1.2 |
| Conflux (CFX) Price Prediction 2028 | $7.7 | $1.5 |
| Conflux (CFX) Price Prediction 2029 | $8.9 | $1.6 |
| Conflux (CFX) Price Prediction 2030 | $9.5 | $1.9 |
Conclusion
If Conflux (CFX) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Conflux (CFX) price prediction for 2023 is $1.3480. Comparatively, if unfavorable sentiment is triggered, the bearish Conflux (CFX) price prediction for 2023 is $0.0492.
If the market momentum and investors’ sentiment positively elevates, then Conflux (CFX) might hit $3. Furthermore, with future upgrades and advancements in the Conflux ecosystem, CFX might surpass its current all-time high (ATH) of $1.70 and mark its new ATH.
FAQ
1. What is Conflux (CFX)?
CFX is the native cryptocurrency of Conflux. Conflux is a permissionless Layer 1 blockchain that employs a decentralized economic-driven governance system.
2. Where can you buy Conflux (CFX)?
Traders can trade Conflux (CFX) on the following cryptocurrency exchanges such as Binance, OKX, LBank, WEEX, and Deepcoin, and so on.
3. Will Conflux (CFX) record a new ATH soon?
With the ongoing developments and upgrades within the Conflux platform, Conflux (CFX) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Conflux (CFX)?
Conflux (CFX) hit its current all-time high (ATH) of $1.7038 on March 27, 2021.
5. What is the lowest price of Conflux (CFX)?
According to CoinMarketCap, CFX hit its all-time low (ATL) of $0.02191 on January 1, 2023.
6. Will Conflux (CFX) hit $3?
If Conflux (CFX) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $3 soon.
7. What will be the Conflux (CFX) price by 2024?
Conflux (CFX) price might reach $3.8 by 2024.
8. What will be the Conflux (CFX) price by 2025?
Conflux (CFX) price might reach $4.4 by 2025.
9. What will be the Conflux (CFX) price by 2026?
Conflux (CFX) price might reach $5.1 by 2026.
10. What will be the Conflux (CFX) price by 2027?
Conflux (CFX) price might reach $6.4 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
