Conflux CFX Price Surges 100% Post Ecosystem Conference

Conflux (CFX) has experienced a remarkable surge, with its price exploding over 100% in recent trading sessions. This dramatic breakout, marked by a 40% intraday surge, has captivated the attention of investors and analysts. The rally was fueled by a combination of on-chain, technical, and ecosystem-driven catalysts, with a notable short squeeze playing a significant role. This event forced short-sellers to cover their positions, resulting in cascading liquidations across major exchanges and wiping out over $1 million in short positions within hours.

The price action followed the Conflux Ecosystem Conference in Shanghai, where the team announced major upgrades planned for Conflux 3.0. These upgrades include a throughput boost to 15,000 transactions per second (TPS), plans for stablecoin trials, and real-world asset integration. Additionally, rumors of a yuan-backed offshore stablecoin tied to Belt and Road partnerships attracted fresh investor interest, particularly from Chinese markets, where Conflux maintains a regulatory edge. These developments reignited attention on CFX, driving volume up significantly and flipping the sentiment bullish across spot and derivatives markets.

Derivatives and on-chain metrics validate the strength of the rally. CFX’s futures open interest exploded, indicating fresh capital entering long trades. The long/short ratio now favors bulls, with funding rates flipping positive across major exchanges. Spot supply on exchanges also declined, confirming reduced sell-side pressure and increased holding behavior. On-chain data reveals a surge in active addresses and transactions, supporting the legitimacy of the breakout.

Technically, CFX has completed a clean breakout above $0.10 resistance, supported by a massive spike in daily volume and a close above the 200-day Exponential Moving Average (EMA). The structure now shows a confirmed higher high with a bullish Moving Average Convergence Divergence (MACD) crossover and Relative Strength Index (RSI) expansion—both suggesting continuation rather than exhaustion. Immediate support lies at $0.145, and if the price holds this level during consolidation, the bullish trend remains intact.

Using Fibonacci extensions from the $0.10–$0.18 breakout leg, the next major resistance targets lie at $0.21 and $0.235. Should the price hold above $0.18 on the weekly close, further continuation toward $0.28 is likely, where historical resistance from early 2023 exists. However, failure to sustain above $0.145 may result in a corrective pullback toward the $0.12 range before resuming upward momentum. The placement of the Moving Average 50 & 200 suggests the actual bull run is yet to begin. The MAs are heading towards a bullish crossover, also called a Golden Cross, which usually uplifts the price above the pivotal resistance levels. Besides, the RSI has entered the overbought zone and is expected to remain within the range that could keep up the bullish momentum of the rally. With this, the price is expected to secure 1 FIB at $0.2736, the December 2024 highs, surpassing which $0.3 could be imminent.

This surge has reignited interest in Conflux, a blockchain platform known for its high throughput and scalability, which has positioned it as a strong contender in the competitive cryptocurrency market. The recent price explosion can be attributed to several factors, including increased adoption and partnerships, as well as positive market sentiment towards the broader cryptocurrency sector. As Conflux continues to gain traction, investors are closely monitoring its performance, with many anticipating further gains in the near future. The activation of bullish targets at $0.33 suggests that the cryptocurrency has significant upside potential, and analysts are optimistic about its prospects. However, it is important to note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Investors should exercise caution and conduct thorough research before making any investment decisions.