Conflux Price Prediction – Will CFX Price Hit $1 Soon?

This Conflux (CFX) Price Prediction 2022 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into account upon coming up with our CFX price analysis and prediction.

There are many cryptocurrencies that rose to a new all-time during this 2021 bull run. In contrast, some digital assets also faced a price drop. As a result, many crypto traders are worried about whether it is time to hold or sell their digital assets. This is also the same case that crypto traders could experience in CFX.

Nevertheless, the crypto market is consolidating lately, and many cryptocurrencies are losing their previous profits. Will CFX experience the same price volatility? We’ll find out shortly in this CFX price analysis 2022 article. But first, let’s have a look at what CFX is.

What Is Conflux (CFX)?

Conflux (CFX) enhances developers, communities, and markets to join across borders and protocols. Moreover, CFX is a high throughput first layer consensus blockchain that uses a unique Tree-Graph consensus algorithm. The platform offers the parallel processing of blocks and transactions for raised throughput and scalability.

Conflux is the only regulatory compliant, public, and permissionless blockchain in China. The platform provides a unique benefit for projects developing and expanding into Asia, connecting decentralized economies to strengthen the global DeFi ecosystem.

Now that we have an idea about CFX, do you think CFX will be profitable crypto in 2022? Join me and let us see the charts in this CFX price prediction.

CFX Current Market Status

As of the time of writing this Conflux technical analysis, CFX trades at $0.17 with a 24-hour trading volume of $23,140,924. The price of CFX has increased by 2.29% in the last 24 hours.

Furthermore, CFX has a current circulating supply of 1.69B CFX. Currently, the top crypto asset trading platforms for Conflux are Binance, OKEx, Gate.io, Kucoin, and Mexc.

Now, let’s proceed to the next part of this CFX price analysis for 2022.

Conflux (CFX) Price Analysis 2022

Currently, CFX holds 191st place on CoinMarketCap. But will the latest upgrades, developments, and changes in the CFX blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this CFX price prediction article.

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for CFX/USDT, we can deduce that the price of CFX might get bullish in some days since the price is consolidating at the first half of the channel from the top. A bearish reversal might be seen since the recent candlestick is almost close to the middle. However, in the long-term, the price might get bullish since top cryptocurrencies like Bitcoin and Ethereum are already getting bearish from the recent bullish run.

The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of the 1Day chart is 58.11.  This shows that CFX is showing a strong trend since its RSI lies between 50 and 70. A bullish trend is expected in the long-term since buyer’s seems to be pushing the price from the last green candlestick formed.

From the chart above, the 200-MA is above the 100-MA which means that long-term investors would gain. However, since the gap between the two moving averages is large and the 100-MA is below the recent candlesticks, there might be consolidation before the continuation of the recent bullish run.

Conflux (CFX) Price Prediction

The chart below shows that CFX has performed great over the past few days. Moreover, the CFX price over 35.7% in the last 2 weeks. If this trend continues, CFX might run along with the bulls, overtaking its $0.20 resistance 1level and reach higher to $0.71 at resistance4, the 2022 bullish signal.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone CFX from its uptrend position. In simpler terms, the price of CFX might drop to almost $0.08, a bearish signal.

Meanwhile, our long-term CFX price prediction for 2022 is bullish. However, there is a high possibility of surpassing its current all-time-high (ATH) at about $1.70 on March 27^th, 2021.

Conflux (CFX) Price Prediction 2022

If this bullish trend continues, CFX will reach $0.71 by the end of 2022. Moreover, the first 2 quarters of 2022 is going to show rapid growth, up to $0.31. Then the rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $1 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Conflux (CFX) Price Prediction 2023

If CFX holds the support level around 200-MA which is the long-term moving average, buyers will then have CFX time and stability to forge the next attack mission on the vital level at $4, making it not decrease but play consistently.

Conflux (CFX) Price Prediction 2024

As per the latest upgrades, developments, CFX price prediction, and new project forecasts of the platform, CFX investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of CFX in the crypto market, and it will be the best investment as the price can spike and reach around $7.

Conflux (CFX) Price Prediction 2025

In the next four years, CFX prices could rise up to $10. More so, reaching this level could not be so difficult for CFX as an additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that CFX has a high possibility of reaching a new ATH soon in the next four years as per the prediction.

Conflux (CFX) Price Prediction 2026

In the next five years, CFX prices could rise up to $30. More so, reaching this level could not be so difficult for CFX as an additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that CFX has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

CFX has a bright future ahead of it in 2022. With the ongoing developments happening within the CFX system, as well as in the overall cryptocurrency market, we may see CFX reach new heights.

Bullish CFX price prediction for 2022 is $0.71. As said above, it may even reach $1 if investors have decided that CFX is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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