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Conflux Price Prediction – Will CFX Price Hit $2 in 2021?

Conflux-CFX-Price-Prediction Prediction
  • Bullish CFX price prediction ranges from $0.42 to $0.84.
  • CFX prices might also reach $2 soon.
  • CFX bearish market price prediction for 2021 is $0.294.

This Conflux Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into account upon coming up with our CFX price analysis and prediction.

There are many cryptocurrencies that rose to a new all-time during this 2021 bull run. In contrast, some digital assets also faced a price drop. As a result, many crypto traders are worried about whether it is time to hold or sell their digital assets. This is also the same case that crypto traders could experience in CFX.

Nevertheless, the crypto market is consolidating lately, and many cryptocurrencies are losing their previous profits. Will CFX experience the same price volatility? We’ll find out shortly in this CFX price analysis 2021 article. But first, let’s have a look at what CFX is.

What Is Conflux (CFX)?

Conflux (CFX) enhances developers, communities, and markets to join across borders and protocols. Moreover, CFX is a high throughput first layer consensus blockchain which uses a unique Tree-Graph consensus algorithm. The platform offers the parallel processing of blocks and transactions for raised throughput and scalability.

Conflux is the only regulatory compliant, public, and permissionless blockchain in China. The platform provides a unique benefit for projects developing and expanding into Asia, connecting decentralized economies to strengthen the global DeFi ecosystem.

Now that we have an idea about CFX, do you think CFX will be profitable crypto in 2021? Join me and let us see the charts in this CFX price prediction.

CFX Current Market Status

As of the time of writing this Conflux technical analysis, CFX trades at $0.39 with a 24-hour trading volume of $121,226,752. The price of CFX has decreased by 1.96% in the last 24 hours.

Furthermore, CFX has a current circulating supply of 1.00B CFX. Currently, the top crypto asset trading platforms for Conflux are Binance, OKEx, Mandala Exchange, ZT, and Hoo.

Now, let’s proceed to the next part of this CFX price analysis for 2021.

Conflux (CFX) Price Analysis 2021

Currently, CFX holds the 132nd place on CoinMarketCap. But will the latest upgrades, developments, and changes in the CFX blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this CFX price prediction article.

CFX USDT Chart Showing Accumulation Pattern
CFX/USDT Chart Showing Accumulation Pattern (Source: TradingView)

In the chart above, which is set in a daily time frame, we can see the Accumulation pattern of CFX. The price of CFX travels between $0.16 to $0.41.

In the foreseeable future, we can say that CFX has a higher chance of going bearish than bullish. As shown above, at the beginning of this month, CFX turned from its bear to bull trend. This is the result of the high trade volume that occurred in that period.

CFX Relative Strength Index
CFX Relative Strength Index (Source: TradingView)

The Relative Strength Index (RSI) is at 54.52, which means that CFX is in a neither overbought nor oversold state. Hence, traders can trade safely without any major price reversal.

Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of CFX.

CFX 30 day SMA and 50 day EMA
CFX 30-day SMA and 50-day EMA (Source: TradingView)

Since the start of 2021, CFX’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, CFX has a competitive market this 2021.

Conflux (CFX) Price Prediction 2021

The chart below shows that CFX has performed great over the past few days. Moreover, the CFX price over 75.89% in the last 2 weeks. If this trend continues, CFX might run along with the bulls, overtaking its $0.84 resistance level and reach higher.

CFX USDT Price Chart
CFX/USDT Price Chart (Source: TradingView)

Conversely, if the investors turn against the crypto, the bears might take over and dethrone CFX from its uptrend position. In simpler terms, the price of CFX might drop to almost $0.29, a bearish signal.

Meanwhile, our long-term CFX price prediction 2021 is bullish. However, there is a high possibility of surpassing its current all-time-high (ATH) at about $1.7 in 2021.

Conflux (CFX) Price Prediction 2022

If this bullish trend continues, CFX will reach $2.5 by the end of 2022. Moreover, the first 2 quarters of 2022 is going to show rapid growth, up to $3. Then the rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $2.5 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Conflux (CFX) Price Prediction 2023

If CFX holds the support level around 50-MA which is the long-term moving average, buyers will then have CFX time and stability to forge the next attack mission on the vital level at $5, making it not decrease but play consistently.

Conflux (CFX) Price Prediction 2024

As per the latest upgrades, developments, CFX price prediction, and new project forecasts of the platform, CFX investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of CFX in the crypto market, and it will be the best investment as the price can spike and reach around $7.

Conflux (CFX) Price Prediction 2025

In the next four years, CFX prices could rise up to $10. More so, reaching this level could not be so difficult for CFX as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that CFX has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

CFX has a bright future ahead of it in 2021. With the ongoing developments happening within the CFX system, as well as in the overall cryptocurrency market, we may see CFX reach new heights.

Bullish CFX price prediction 2021 is $0.84. As said above, it may even reach $2 if investors have decided that CFX is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

What is CFX?

Conflux enhances developers, communities, and markets to join across borders and protocols. Its native token is CFX.

How to Buy CFX Tokens?

Users can obtain CFX tokens by purchasing them from cryptocurrency exchanges such as Binance, Mandala Exchange, OKEx, ZT, and Hoo.

Is CFX a good investment in 2021?

CFX is the best crypto asset to invest in 2021. Best of all, CFX has a high possibility of surpassing its current ATH at about $1.70 this year.

Can CFX reach $2 soon?

Yes, it’s very much possible that CFX might reach $2 in the near future as per the current bullish trend.

What will be the Conflux price by 2022?

Conflux (CFX) price is expected to reach $3 by 2022.

What will be the Conflux price by 2023?

Conflux (CFX) price is expected to reach $5 by 2023.

What will be the Conflux price by 2024?

Conflux (CFX) price is expected to reach $7 by 2024.

What will be the Conflux price by 2025?

Conflux (CFX) price is expected to reach $10 by 2025.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.