Market Overview for Conflux (CFXUSDT): 2025-08-20

• Conflux (CFXUSDT) posted a strong bullish reversal after a 16-hour downtrend, closing near the session high.
• A key support level at $0.1665 was confirmed as a floor, followed by a sharp volume-driven rebound.
• Momentum indicators showed oversold conditions, suggesting potential for a short-term rally.
• Bollinger Bands widened during the recovery, indicating rising volatility in the afternoon/evening session.
• Turnover surged at $0.165, $0.17, and $0.185, suggesting multiple institutional or heavy retail entries.

Market Overview

Conflux (CFXUSDT) opened at $0.171 on 2025-08-19 12:00 ET and closed at $0.1808 by 2025-08-20 12:00 ET, hitting a high of $0.1999 and a low of $0.1643. The total 24-hour volume was 101.5 million CFX, and notional turnover reached ~$17.4 million, marking one of the largest volume surges in the last 30 days.

Structure & Formations

The 24-hour candlestick pattern shows a deep V-bottom from $0.1643, with a strong bullish reversal forming near $0.165. A hammer candle at $0.1656 and a bullish engulfing pattern at $0.171–$0.173 suggest strong buying interest. Resistance levels appear to form at $0.175 (50% retracement of the $0.165–$0.1999 move) and $0.185–$0.187, while key support lies at $0.171 and $0.1665.

Moving Averages

On the 15-minute chart, the price broke above the 20 and 50-period moving averages during the afternoon rebound and remains above both into the 12:00 ET close. The 50-period MA currently sits at ~$0.173, while the 20-period MA is at $0.177, showing a narrowing bullish crossover. On a daily basis, CFXUSDT is above both the 50 and 100-day MAs but remains below the 200-day MA (~$0.190), suggesting a medium-term sideways-to-bullish trend is forming.

MACD & RSI

The MACD turned positive during the afternoon rebound and remains in bullish territory with a strong histogram. The RSI moved into overbought territory (~68–70) during the late-night rally, suggesting short-term exhaustion may be near. However, the oversold reading (~30) at the low of $0.1643 indicates a strong bounce is likely if price revisits that level.

Bollinger Bands

Bollinger Bands contracted during the midday consolidation phase but expanded significantly during the afternoon rally. Price closed near the upper band on the 15-minute chart, indicating strong volatility and bullish momentum. This could signal a potential correction if the bands re-converge.

Volume & Turnover

Volume spiked at three key price levels: $0.165 (1.9 million CFX), $0.170 (3.5 million CFX), and $0.185 (6.5 million CFX), indicating multiple waves of accumulation. Turnover at these levels totaled ~$3.4 million, ~$5.6 million, and ~$11.8 million, respectively. This suggests both retail and institutional activity across the move.

Fibonacci Retracements

The most recent 15-minute swing from $0.1643 to $0.1999 shows key Fibonacci levels at 38.2% ($0.182), 50% ($0.177), and 61.8% ($0.171). Price stalled near the 50% and 38.2% levels before bouncing off them, suggesting strong support in that range. On the daily chart, the 50% retracement of the recent leg down is at $0.179, which may act as a new pivot point.

Conflux may continue to test the $0.185–$0.187 resistance zone over the next 24 hours if the momentum from the afternoon rally sustains. A break above $0.185 could trigger a retest of the $0.190–$0.193 range, while a pullback to $0.171–$0.173 may find support. Investors should watch for volume confirmation on the next leg higher, as divergence could signal fading bullish conviction.