Conflux (CFX) Price Prediction 2023 — Will CFX Hit $0.8 Soon?
- Bullish CFX price prediction for 2023 is $0.4275 to $1.3479.
- Conflux (CFX) price might also reach $0.8 soon.
- Bearish CFX price prediction for 2023 is $0.0492.
In Conflux (CFX) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about CFX to analyze the future movement of the cryptocurrency.
Conflux (CFX) Current Market Status
| Current Price | $0.4173 |
| 24 – Hour Trading Volume | $1,236,660,521 |
| 24 – Hour Price Change | 32.43% up |
| Circulating Supply | 2,655,261,285 |
| All – Time High | $1.70 (On March 27, 2021) |
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. 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 (CFX) Price Prediction 2023
Conflux (CFX) holds the 60th position on CoinGecko right now. CFX price prediction 2023 is explained below with a daily time frame.
The above chart of Conflux (CFX) laid out an ascending channel pattern. Ascending channel pattern, also known as the rising channel. The upper and lower trend lines that connect the higher highs and higher lows respectively appear to move within a rising slope. This pattern is generally a characteristic of a bullish trend.
Currently, Conflux (CFX) is in the range of $0.4173. If the pattern continues, the price of CFX might reach the resistance levels of $0.4205 and $0.5819. If the trend reverses, then the price of CFX may fall to $0.2805 and $0.2412.
Conflux (CFX) Support and Resistance Levels
The chart below shows the support and resistance levels of Conflux (CFX).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Conflux (CFX).
| Resistance Level 1 | $0.4275 |
| Resistance Level 2 | $1.3479 |
| Support Level 1 | $0.1282 |
| Support Level 2 | $0.0492 |
The charts show that Conflux (CFX) has performed a bullish trend over the past month. If this trend continues, CFX might run along with the bulls overtaking its resistance level at $1.3479.
Accordingly, if the investors turn against the crypto, the price of Conflux (CFX) might plummet to almost $0.0492, a bearish signal.
Conflux (CFX) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Conflux (CFX) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of CFX lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of Conflux (CFX) is shown in the chart above. Notably, Conflux (CFX) price lies above 50 MA (short-term), so it is completely in an uptrend. Currently, CFX has entered a bullish state. Therefore, there is a possibility of a reversal trend of CFX at any time.
Meanwhile, the relative strength index (RSI) of the CFX is 72.11. This means that Conflux (CFX) is in an overbought state. However, this means a major price reversal of CFX may occur in the upcoming days. So, traders need to trade carefully.
Conflux (CFX) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Conflux (CFX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Conflux (CFX). Currently, the ADX of CFX lies in the range of 38.06 and thus, it indicates a strong trend.
The above chart also represents the Relative Volatility Index (RVI) of Conflux (CFX). RVI measures the constant deviation of price changes over a period of time. The RVI of CFX lies above 50, indicating high volatility. In fact, the RSI of Conflux (CFX) is at 72.11 thus confirming a potential buy signal.
Comparison of CFX with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Conflux (CFX).
From the above chart, we can interpret that the price actions CFX is a dissimilar trend with respect to BTC and ETH. This indicates that when the price of BTC and ETH increases , the price of CFX decreases. And when the price of BTC and ETH decreases, the price of CFX increases
Conflux (CFX) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s check what Conflux (CFX) will price between 2024 and 2030.
Conflux (CFX) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, Conflux (CFX) might probably attain $1 by 2024.
Conflux (CFX) Price Prediction 2025
If Conflux (CFX) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, CFX would rally to hit $3
Conflux (CFX) Price Prediction 2026
If Conflux (CFX) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, CFX would rally to hit $5
Conflux (CFX) Price Prediction 2027
If Conflux (CFX) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, CFX would rally to hit $7
Conflux (CFX) Price Prediction 2028
Conflux (CFX) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, CFX would hit $9 in 2028.
Conflux (CFX) Price Prediction 2029
If investors flock in and continue to place their bets on Conflux (CFX), it would witness major spikes. CFX might hit $11 by 2029.
Conflux (CFX) Price Prediction 2030
With greater advancements in the ecosystem, the crypto community might continue to invest in CFX for the next 8 years and drive significant price rallies for the token. Hence, Conflux (CFX) might hit $13 by 2030.
Conclusion
With continuous improvements in the Conflux network, we can say that 2023 is a good year for CFX. For this reason, the bullish price prediction of Conflux (CFX) in 2023 is $1.3479. On the other hand, the bearish price prediction of Conflux (CFX) price prediction for 2023 is $0.0492.
Furthermore, with the advancements and upgrades to the Conflux ecosystem, the performance of CFX would help to reach above its current all-time high (ATH) of $1.70. very soon. But, it might also reach $0.8 if the investors believe that CFX is a good investment in 2023.
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 purchase Conflux (CFX)?
Conflux (CFX)has been listed on many crypto exchanges which include Binance, KuCoin, OKX, Bitget and MEXC .
3. Will Conflux (CFX) reach a new ATH soon?
With the ongoing developments and upgrades within the Conflux platform, CFX has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Conflux (CFX)?
On March 27, 2021 Conflux (CFX) reached its new all-time high (ATH) of $1.70.
5. Is Conflux (CFX) a good investment in 2023?
Conflux (CFX) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Conflux in the past few months, CFX is considered a good investment in 2023.
6. Can Conflux (CFX) reach $0.8?
Conflux (CFX) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Conflux (CFX) will hit $0.8 soon.
7. What will be Conflux (CFX) price by 2024?
Conflux (CFX) price is expected to reach $1 by 2024.
8. What will be Conflux (CFX) price by 2025?
Conflux (CFX) price is expected to reach $3 by 2025.
9. What will be Conflux (CFX) price by 2026?
Conflux (CFX) price is expected to reach $5 by 2026.
10. What will be Conflux (CFX) price by 2027?
Conflux (CFX) price is expected to reach $7 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.
Read more: https://thenewscrypto.com/conflux-cfx-price-prediction-2023-will-cfx-hit-0-8-soon/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
