Conflux CFX surges 21.26% to $0.1278 testing key resistance

Conflux (CFX) has experienced a notable surge, with its price jumping by 21.26% within a 24-hour period, reaching $0.1278. This significant increase has positioned CFX at a critical resistance level of $0.1277, a trendline that has not been breached since the beginning of 2024. This resistance level is pivotal in determining the near-term price action of the asset.

The surge in CFX's price has been accompanied by a substantial increase in daily trading volume, which spiked to $104.52 million, reflecting a 117.38% rise. This heightened market activity is indicative of renewed interest and momentum in the cryptocurrency. Additionally, the market capitalization of CFX has increased to $653.15 million, aligning with the price action. The current price movement is testing a structure that has previously rejected multiple rallies, making the outcome of this resistance test crucial for CFX's future price trajectory.

CFX is now challenging the upper boundary of a descending channel pattern, which has guided its price action since late Q1 2024. The upper channel line intersects directly with the current resistance area, and a confirmed breakout would place CFX above trendline resistance for the first time in over a year. This breakout could potentially open the door to higher targets, with projections suggesting movement toward the $0.2400–$0.2500 region. However, any failure to hold above $0.1277 may result in a return to the $0.1021 support zone.

The $0.1021 level continues to act as critical support, protecting recent gains throughout the rally. During the past week, this area served as the launch point for CFX’s current move. With momentum intact, the focus remains on how price reacts around the $0.1277 resistance level. Daily price structure also shows higher lows, supporting short-term buying interest. However, traders now await confirmation of a clean breakout or a return to range.

According to the analyst's forecast, the projected breakout path suggests possible movement toward the $0.2400–$0.2500 region, based on previous channel range. However, any failure to hold above $0.1277 may return the price to the $0.1021 support zone. Volume trends and intraday structure remain key indicators for monitoring sustained movement.