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The Conflux price is trading with a bullish bias, recording a value surge in the last day and a 75% increase in 24-hour trading volume. It continues northbound, sustaining the gains with higher highs and higher lows after the 45% run on October 24.
After the epic run, investor optimism for Conflux price remains, with perpetual traders reaping the returns of their boldness to long CFX.
#CFX new open Trade 🤟💰🔥 pic.twitter.com/kZTP9FR2jH
— Crypto PRA Trader⚡️ (@CRYPTOPRA008) October 31, 2023
Meanwhile, others are exercising caution, and rightfully so, awaiting confirmation before a reentry as CFX meets a crucial barrier.
https://twitter.com/TimeTradingX/status/1719465154512073209
CFX joins the rest of the altcoins that are recording hard pumps, coming on the back of a strong October. Stepping into November, experts anticipate an even better turnout given it has historically been the best-performing month for Bitcoin (BTC). With this, the capital overflows of a rally in BTC are expected to spill over to altcoins.
🚀 Market breadth in #crypto is expanding! just 4.7% of tokens are in a strong downtrend, the lowest since January. More coins are joining the BTC rally, signaling a healthier and more sustainable bullish momentum. 📈 #Bitcoin #Altcoins #Bullishhttps://t.co/Ob62GE3I6l
— Koiner (@KoinerXHub) October 31, 2023
End-of-the-month chatter on Crypto X coil up to a general tune that “Bitcoin is pausing its impressive rally, giving room for select altcoins to potentially break out in the coming days.” With the market momentum strengthening more altcoins are joining the BTC rally, with only 4.7% of 5,300 cryptocurrencies still in a downward trend. Notably, this is the lowest since last January. Crypto expert Charlie Morris sees more cryptocurrencies rising ahead of the BTC halving and Federal Reserve policy shift.
CFX Prognosis As Conflux Price Meets Strong Supply Barrier
The 75% run for Conflux price beginning October 20 has culminated to CFX meeting a supply zone. The is an area where sellers abound, meaning a lot of aggressive selling is expected within the range. The supply barrier extends from $0.1779 to $01950.
The Relative Strength Index (RSI) above 50 remains a bullish sign for Conflux price. Its deviation to the south, though concerning and showing CFX is already overbought, does not warrant concern just yet. This is unless it decisively crosses below the 70 level. Notice that this momentum indicator presented a similar move on October 26 and October 29 only to bounce back up. Nevertheless, investors looking to enter new long positions should wait for confirmation.
With the bullish outlook still intact, increased buying pressure could send Conflux price north, digging into the supply zone. For a confirmed uptrend, the price must break past the mean threshold of this order block at $0.1866.
A move above the supply zone, rendering it a bullish breaker, could pave the way for Conflux price to reach the $0.2000 psychological level. In a highly bullish case, the gains could stretch to the $0.2179 barricade, levels last tested during mid-July. Such a move would constitute a 30% climb above current levels.
The Awesome Oscillator (AO) indicator remains in the positive zone, with its histogram bars showing a steady green shade. This reinforces the position of the bulls in the CFX market.
Converse case
If the supply zone holds as a resistance level, Conflux price could face a rejection, sending the cryptocurrency south. A break and close below the $0.1438 support level would invalidate the bullish thesis. In the dire case, the slump could extend for CFX market value to test the $.1135 support floor or stretch a leg down to collect buy-side liquidity residing underneath.
While Conflux price battles a formidable supply barrier, consider MK for your portfolio diversification needs, with better prospects than CFX. Do you remember the Pepe Coin sensation after PEPE launched? Well, this could be the next PEPE.
Meme Kombat presale is showing strong a bullish outlook, with some saying it is boosted by Pepe Coin’s price pump
Promising Alternative To Conflux
MK could just be your best alternative for CFX, providing you an entrance into a fun-filled battle arena with multiple rewards for everyone. It is the native crypto for Meme Kombat, a stake-to-earn project with enough innovation to fit the needs of every gaming enthusiast.
A new entrant in the meme coin ecosystem, Meme Kombat bears prospects for 20X return on investment after launch and it’s already smashed through the $1 million bar in presale.
Experts predict value growth for the meme sensation, with traders flocking to buy MK at current rates. Today, November 1, one MK token is going for $0.1667. However, beginning tomorrow, November 2, the token’s price will increase to $0.1833. This constitutes a 10% profit by tomorrow for anyone who buys MK today.
It is worth mentioning that Meme Kombat features among the top three ICOs to buy in 2023. It stands among other promising crypto presale projects like Bitcoin Minetrix and TG.Casino that are definitely worth your attention.
Visit Meme Kombat website to buy MK here.
Also Read:
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- How To Buy Meme Kombat ($MK) – Newest Gamefi Project Presale In 2023
- Meme Kombat Price Prediction – $MK Price Potential in 2023
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