Market Overview for Conflux (CFXUSDT) on 2025-07-19

• Conflux (CFXUSDT) opened at $0.1043 and closed at $0.1030, with a 24-hour high of $0.1073 and low of $0.1005.
• A bearish reversal pattern formed after a sharp mid-day rally, with price retreating below key support at $0.1045.
• Volatility expanded significantly during the overnight Asian session, with volume peaking near $10.7 million.
• RSI and MACD both show weakening momentum, suggesting a potential consolidation or further downside risk.
• Bollinger Bands expanded post-6:00 ET, indicating increased uncertainty and potential for a breakout or breakdown.

Conflux (CFXUSDT) opened at $0.1043 on 2025-07-18 12:00 ET and closed at $0.1030 by 12:00 ET on 2025-07-19. The pair reached a high of $0.1073 and a low of $0.1005 during the 24-hour period. Total volume was 19,165,023.0 and turnover was approximately $19.8 million, showing strong trading activity during the overnight hours.

Structure & Formations

The price action on the 15-minute chart reveals a clear bearish reversal pattern following a bullish thrust in the early morning hours. After reaching a high of $0.1073, the asset pulled back sharply, forming a bearish engulfing pattern near $0.1065 and $0.1050. A key support level appears to have formed at $0.1045, where the price tested twice before breaking below. A bearish doji formed around $0.1030, signaling indecision and potential exhaustion in the short term.

Moving Averages

On the 15-minute timeframe, the 20-period and 50-period moving averages show a bearish crossover after 7:00 ET, with the 20-period MA dipping below the 50-period MA. This reinforces the recent downward momentum. On the daily chart, the 50-period MA is above the 200-period MA, suggesting a more neutral to slightly bullish bias in the broader trend, though the recent 15-minute action has pushed the daily close below key intraday resistance levels.

MACD & RSI

The MACD line crossed below the signal line around 6:00 ET, forming a bearish crossover that aligns with the price pullback. The RSI dropped from overbought territory (70+) to neutral levels (50–60) by midday, indicating waning bullish momentum. While not in oversold territory, the RSI has flattened, suggesting traders may be hesitant to push the price lower in the near term.

Bollinger Bands

Bollinger Bands expanded significantly following the early morning rally, with price moving outside the upper band at $0.1073. After the sharp correction, the price has settled within the lower half of the bands, suggesting a period of consolidation or potential bearish continuation. The narrowing of bands in the early hours of the morning preceded the breakout, a classic sign of increased volatility.

Volume & Turnover

Volume spiked sharply during the overnight Asian session, particularly between 6:00 and 7:00 ET, when the price reached its high of $0.1073. The high-volume candle at that time was followed by a large bearish candle, indicating strong selling pressure. Turnover also surged during this period, confirming the price move. A divergence appears between volume and price during the 1:00–2:00 ET window, where volume declined despite a continued decline in price, suggesting potential bear exhaustion.

Fibonacci Retracements

Applying Fibonacci retracements to the 15-minute swing from $0.1005 to $0.1073, the price has found support near the 61.8% level at $0.1045. A break below this level could target the 78.6% retracement at $0.1027, where further support may be found. On the daily chart, the current price is near the 38.2% retracement level of the recent 24-hour move, suggesting it could serve as a pivot point in the near term.

Looking ahead, Conflux appears to be consolidating within a bearish channel following the sharp intraday correction. While short-term support at $0.1045 may hold, a break below $0.1030 could lead to further downside. Investors should remain cautious, as volatility and divergences suggest the market is in a period of uncertainty.