Technical analysis by Lamassu_Trade about Symbol CFG: Buy recommendation (11/17/2024)

Centrifuge (CFG) is currently positioned at a critical support level, presenting a favorable risk-to-reward setup with significant upside potential.Support Zone (Green): CFG is holding above a strong support area around $0.14–$0.21. This level has previously acted as a key floor for price stabilization and could trigger a bounce if maintained.First Resistance (Red): The first major resistance sits at $0.75, representing a potential 235% gain from current levels. This level has acted as a rejection zone in the past and will be critical to break for further momentum.Second Resistance (Major): The second target is $1.67, a 518% potential upside. This is a significant resistance area, and breaking it could open the doors for CFG to retest its all-time high of $2.58.Conclusion:CFG's technical setup indicates a strong potential for a bullish move if the current support holds. With major resistances ahead, the key will be maintaining the green zone while looking for volume confirmation at breakout points.