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bonk
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$0.000027 3.85%
bitcoin
Bitcoin (BITCOIN)
$114,881 0.96%
ethereum
Ethereum (ETHEREUM)
$3,647 5.29%
binancecoin
BNB (BINANCECOIN)
$762.55 2.06%
solana
Solana (SOLANA)
$165.58 2.61%
ripple
XRP (RIPPLE)
$3.04 5.01%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 1.38%
pepe
Pepe (PEPE)
$0.000011 1.16%
bonk
Bonk (BONK)
$0.000027 3.85%
bitcoin
Bitcoin (BITCOIN)
$114,881 0.96%
ethereum
Ethereum (ETHEREUM)
$3,647 5.29%
binancecoin
BNB (BINANCECOIN)
$762.55 2.06%
solana
Solana (SOLANA)
$165.58 2.61%
ripple
XRP (RIPPLE)
$3.04 5.01%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 1.38%
pepe
Pepe (PEPE)
$0.000011 1.16%
bonk
Bonk (BONK)
$0.000027 3.85%
Disclosure
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Conflux Price Prediction – Why CFX Could Rally to $0.27 Soon

Highlights:

  • Conflux is consolidating between the $0.219 resistance and $0.205 support
  • A breakout through $0.219 resistance is likely now after recent upgrades
  • Possible rate cuts in September in the US could add to the momentum

The cryptocurrency market has slightly rebounded today, reflecting the overall recovery across the financial markets. This is a big deal and points to the potential pricing of the tariff uncertainty that started on August 1. It also means high-potential cryptocurrencies could be headed for a strong rebound. Conflux is one of the top cryptocurrencies already sending signals of a possible rally that could soon negate all the losses from the July 31/August 1 crash. Conflux was up by 2.7% to trade at $0.211 when going to press. 

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Trading volumes were also marginally up by 3% in the day to stand at $339 million. This indicates that while investors are still cautious due to macro uncertainties, they are slowly returning to the market. Compared to many other altcoins, Conflux can rally to new highs if the market believes the tariff uncertainty has been priced in. A few factors support a Conflux rally in the short to medium term. 

Launch of Conflux V3: Drawing Investors to CFX

One of them is the fact that Conflux recently launched version 3 of its blockchain. The new version comes with several upgrades that are exciting to investors. These include a significant increase in transactions per second, a factor that makes Conflux way more practical for large-scale applications. The upgrade also gives Conflux native AI agents, positioning Conflux in the fast-growing AI market. This big deal could trigger FOMO and push Conflux to new highs.

Conflux’s China Connection Likely to Drive FOMO as Markets Rebound

Then, there is the Chinese connection to Conflux. As part of the recent upgrade, a Yuan-based stablecoin is set to be launched on the Conflux network. This is a big deal given that China is one of the largest markets in the world. Additionally, given China’s growing global influence through the Belt and Road initiative, such a stablecoin could instantly gain global demand.

By extension, this adds to the underlying value of Conflux, which is the stablecoin’s network. This demand and the FOMO around China, the world’s second-largest economy, choosing Conflux as its preferred blockchain could soon send Conflux rocketing to new highs. The rally experienced days ahead of the V3 launch hint at how high Conflux can go. Some analysts speculate that as V3 takes shape and its excitement grows in China, a rally to $0.50 could come soon.

Possible Rate Cuts In the US Could Drive CFX Higher

Conflux is also set to benefit from the fact that data coming from the US could force the Fed to cut rates. Part of the reason why the markets crashed on August 1 is weak labor data in the US, and a slowdown in manufacturing. These are hints that the US economy is weakening and the Federal Reserve may need to step in to cushion it.

One step the Fed could take is to cut interest rates, with some speculating that this could happen as early as September. Expectations around a rate cut could send the markets soaring. Cryptocurrencies with strong underlying demand, such as Conflux, could benefit the most, with a potential rally to new highs. 

Technical Analysis – Conflux Entering A Consolidation Phase

For the last 48 hours, Conflux has been consolidating between the $0.219 resistance and $0.205 support. If there is an upside breakout through the $0.219 resistance, a rally could follow, with the first target being $0.271.

CFX
Source: TradingView

On the other hand, if there is a correction through the $0.205 support, then a correction to the $0.185 could follow. Of these two scenarios, the odds are higher for a rally to $0.27 in the short term.

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