Conflux (CFX) Rallies 28% on Strategic Stablecoin Partnership

by Ouess

Conflux Network (CFX) defied Tuesday’s market slump with a 28% price surge to $0.2439, fueled by its AxCNH offshore yuan stablecoin initiative with AnchorX and Eastcompeace Technology.

Key Drivers Behind the Rally

✅ AxCNH stablecoin pilot launching August 1 in Singapore/Malaysia
✅ Part of China’s Belt and Road cross-border payment strategy
✅ 128% trading volume spike (CoinMarketCap data)
✅ RWA tokenization focus gaining traction (green energy swaps sold out)

Technical Outlook: Path to $0.30?

📈 Bollinger Band breakout suggests bullish momentum
💪 Key support: $0.17-$0.18 (must hold)
🎯 Next targets: $0.30 resistance, then $0.34
⚠️ Risk: Breakdown below 20-day MA ($0.14) would negate uptrend

CFX Price Source : TradingView

The upper wick at $0.278 shows temporary profit-taking, but the band expansion and volume surge indicate sustained buying interest.

You may also like

Crypto feed news

Our team of crypto enthusiasts and market mavens is on a mission to deliver the latest, juiciest, and most insightful updates from the ever-evolving world of cryptocurrencies.

@CryptoFeedNews 2023 All Right Reserved. Designed and Developed by TheDevThingz

Social Media Auto Publish Powered By : XYZScripts.com
Skip to content