{"id":434336,"date":"2023-08-29T11:37:14","date_gmt":"2023-08-29T11:37:14","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=434336"},"modified":"2023-08-29T11:37:14","modified_gmt":"2023-08-29T11:37:14","slug":"conflux-price-prediction-cfx-challenges-0-13-can-it-sustain-the-climb","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/conflux-price-prediction-cfx-challenges-0-13-can-it-sustain-the-climb","title":{"rendered":"Conflux Price Prediction: CFX Challenges $0.13 \u2013 Can It Sustain the Climb?"},"content":{"rendered":"<p>Conflux (CFX) has continued a bearish momentum as the monthly losses now hit 33%.<\/p>\n<p>In the last 24 hours, CFX has dropped by 1.1%, with the bulls having difficulty reversing the trend past the $0.13 level.<\/p>\n<p>CFX has posted low volatility, with the price swinging in the $0.121 and $0.126 range.<\/p>\n<p>The trading volumes posted in the last 24 hours have also dropped by 38% to around $17 million.<\/p>\n<p>Conflux has a market capitalization of $255 million, ranking it the 123<sup>rd<\/sup> largest cryptocurrency by this metric.<\/p>\n<h2>Conflux Challenges $0.13<\/h2>\n<p>In the last 24 hours, CFX has attempted to rally to $0.13. The token rallied from the 24-hour low of $0.121 to $0.126, but it was rejected at this level.<\/p>\n<p>Going by the recent trend, $0.121 appears to be a crucial support level for CFX.<\/p>\n<p>Failure to hold this support could see CFX drop to the monthly low of $0.118 created on August 26.<\/p>\n<p>During the first two weeks of August, CFX held levels above $0.17, and volatility remained mildly low. However, the crypto market crash on August 17 triggered massive dips for CFX.<\/p>\n<p>CFX&rsquo;s price crashed from $0.192 on August 15 to $0.12 on August 18. The downtrend saw the market capitalization also plunge from around $404 million to $266 million.<\/p>\n<h2>CFX Oversold, Bears Seem Relentless<\/h2>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-434339\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/08\/screenshot-CFX.png\" alt=\"\" width=\"1270\" height=\"562\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/08\/screenshot-CFX.png 1270w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/08\/screenshot-CFX-300x133.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/08\/screenshot-CFX-1024x453.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/08\/screenshot-CFX-768x340.png 768w\" sizes=\"(max-width: 1270px) 100vw, 1270px\"><\/p>\n<p>CFX has a Relative Strength Index of 30, pointing towards the likelihood of the token being oversold. The RSI is also tipping south, hinting at more price drops.<\/p>\n<p>The price is below the 50-day simple moving average (SMA), indicating that a bearish momentum is at play.<\/p>\n<p>This month&rsquo;s downtrend was confirmed on August 5, when the 100-day SMA crossed the 200-day SMA from above.<\/p>\n<p>The downtrend has been established with the double-digit drop in 24 hours.<\/p>\n<p>If the bearish sentiment continues, the price will likely plunge below $0.10 to levels last seen in February this year.<\/p>\n<h2>Conflux Scheduled Hardfork Upgrade<\/h2>\n<p>Conflux&rsquo;s downtrend continues despite the community anticipating a hard fork upgrade for the permissionless layer one blockchain.<\/p>\n<p>The network will undergo a hard fork upgrade on September 7, significantly enhancing the protocol and functionality.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#128227; Conflux v2.3.0 Hardfork Upgrade Announcement<\/p>\n<p>&#128313; CIP-112, CIP-107, CIP-118, CIP-119 &amp; CIP-113 bring significant protocol and functional enhancements.<\/p>\n<p>&#128313; Key improvements include performance optimization, new metrics, and EVM code refactoring.<\/p>\n<p>Important Dates:<\/p>\n<p>&#128467;(est. Sep&hellip;<\/p>\n<p>&mdash; Conflux Network Official (@Conflux_Network) <a href=\"https:\/\/twitter.com\/Conflux_Network\/status\/1688913812450320384?ref_src=twsrc%5Etfw\">August 8, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><a href=\"https:\/\/forum.conflux.fun\/t\/conflux-v2-3-0-hardfork-upgrade-announcement\/19111\">According<\/a> to the protocol, critical improvements introduced with this hard fork include performance optimization, new metrics, and EVM code refactoring.<\/p>\n<p>CFX has yet to react to the upgrade&rsquo;s potential on the Conflux ecosystem.<\/p>\n<h2>New AI Crypto yPredict Soars Past $3.6M In Presale<\/h2>\n<p>yPredict is an institutional-grade AI-powered crypto price prediction system.<\/p>\n<p>The project is being promoted as a game-changer in the trading sector by providing access to <a href=\"https:\/\/insidebitcoins.com\/ai-trading\">AI tools<\/a> and features that give them an unbeatable edge in the market.<\/p>\n<p>The yPredict ecosystem is powered by its native YPRED token. The <a href=\"https:\/\/insidebitcoins.com\/visit\/ypredict\" rel=\"nofollow\">presale<\/a> has already raised over $3.64 million at the current price of $0.1.<\/p>\n<p>The presale price will increase to $0.11 after $4,582,551 is raised. Early investors are set to enjoy gains as the listing price for YPRED is $0.12.<\/p>\n<h3>Related Articles:<\/h3>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/ai-crypto-coins-how-are-they-transformative-for-the-market\">AI crypto coins: How are they transformative for the market?<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/best-ai-crypto-coins\">Best AI Crypto Coins to Buy &ndash; Invest in Artificial Intelligence<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/conflux-price-prediction-cfx-tumbles-27-changing-the-blockchain-game\">Conflux Price Prediction: CFX Tumbles 27%<\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">Newest Meme Coin ICO - 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In the last 24 hours, CFX has dropped by 1.1%, with <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/in-content-providers\/a-default-box\" title=\"A Default Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1941,"featured_media":434338,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-434336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Conflux Price Prediction: CFX Challenges $0.13 \u2013 Can It Sustain the Climb?<\/title>\n<meta name=\"description\" content=\"Conflux (CFX) has continued a bearish momentum as the monthly losses now hit 33%. 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