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ConFlux (CFX) Faces Technical Chaos, Needs Major Catalyst for Bullish Breakthrough
The chart shows a haphazard and chaotic pattern without logical support levels. The company has a strong technical team from China and is conducting offshored transactions using the ConFlux blockchain, including launching SIM cards in cooperation with a major Chinese telecom operator. However, the commercial side, managed by a Canadian team overseen by Camila, has disappointed, notably by failing to pay influencers including the author in May 2022. The supply token's chart indicates a steady increase from 1 billion to 5 billion coins over three years, with unlimited printing. For the market to turn bullish, a significant positive development, such as lifting crypto restrictions in China or a major partnership announcement, would be needed. The current chart resembles a descending triangle and looks bearish, with no recent project updates available.
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AI Analysis
The current technical analysis of ConFlux (CFX) reveals a disorganized pattern, lacking clear support levels and showing signs of a downward trend, resembling a descending triangle. This suggests bear...
AI Recommendation
Given the technical indicators and the lack of recent positive news, it is prudent to adopt a cautious stance on ConFlux (CFX) at this stage. Investors should consider waiting for a decisive bullish s...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.