Market Overview for Conflux (CFXUSDT)

• Conflux tested key support at $0.176–0.178 before rebounding, forming a bullish reversal pattern.
• Volatility expanded as price surged from $0.176 to $0.192, reaching a 24-hour high of $0.192.
• Momentum shifted from strong bullish to bearish as RSI topped 60 and then fell below 40.
• Bollinger Bands widened significantly, suggesting a continuation or consolidation phase is likely.
• High-volume candle at $0.191–0.1905 suggests distribution, raising bearish implications for the next 24 hours.

Structure & Formations

CFXUSDT displayed a distinct bearish reversal at $0.192 following a strong rally. The price formed a shooting star and a bearish engulfing pattern around $0.1905–0.192, signaling potential exhaustion in the bullish momentum. On the lower end, a bullish hammer and bullish engulfing pattern formed around $0.176–0.178, suggesting short-term support. Fibonacci retracement levels at 0.189 (61.8%) and 0.183 (38.2%) were tested during the pullback and consolidation.

Moving Averages

Short-term 20/50 EMA lines on the 15-minute chart showed a bullish crossover earlier in the session, supporting the upward momentum. However, by the end of the 24-hour period, the 50 EMA had crossed below the 20 EMA, indicating a shift in sentiment. On the daily chart, the 50/100/200 EMA lines remained aligned in a bearish trend, with the 50 EMA below the 100 and 200 EMAs.

MACD & RSI

The MACD line showed a bullish signal early in the session with a strong positive divergence, but by the final hours, it had crossed into negative territory, reflecting weakening bullish momentum. RSI reached a peak of 62 during the rally and quickly declined to 38, indicating an overbought condition had given way to bearish pressure.

Bollinger Bands

Volatility expanded significantly as the bands stretched wide during the rally from $0.176 to $0.192. Price action remained outside the upper band during the peak, indicating high volatility and a potential overbought condition. As the price retraced, it settled just above the lower band in the final hours, hinting at a potential consolidation or test of support.

Volume & Turnover

Volume spiked dramatically during the afternoon and early evening hours, particularly around $0.1905–0.192, where a large candle (8.2M volume) marked a potential top. However, turnover did not confirm this bullish action, suggesting distribution might be underway. Divergence between volume and price during the consolidation phase points to uncertainty in market sentiment.

Fibonacci Retracements

Key Fibonacci levels on the 15-minute swing from $0.176 to $0.192 were respected during the pullback. The 61.8% retracement at $0.189 acted as a key resistance, and the 38.2% retracement at $0.183 showed some support. On the daily chart, the 0.618 retracement of the larger bearish leg remains a critical watch level for possible continuation or reversal.

In the next 24 hours, CFXUSDT may consolidate or test key support levels around $0.176–0.178. Traders should watch for any break above $0.189 for renewed bullish momentum or a break below $0.176 for a deeper correction. As always, market conditions can change rapidly; a cautious approach is advised.