Technical analysis by CorrectGuess about Symbol CFX on 8/7/2024

The graph shows the price movements of the CFX/USDT parity in a 4 -hour period of time with Heikin Ashi candles on the Binance Exchange. This is a general technical analysis interpretation based on this graph: ### General Review: 1. ** Support and resistance levels: ** - ** Support: ** The red line on the graph is marked as an important support zone at about 0.1000 level. The price has tested this level several times and remained on it for now. - ** Resistance: ** The first resistance level is approximately 0.1400 level close to the current price level. A stronger resistance level can be observed around 0.1800. ** Price Movements: ** - The price has recently fell below 0.1600 and then decreased to around 0.1200. - The price is currently at 0.1200 level and may tend to recover upwards, but you will have to exceed 0.1400 level.3. ** RSI (Relative Power Index): ** - RSI indicator is currently at 41.27, which shows that it is close to the over -selling zone. This may be a potential sign for a return or price to rise.4. ** Volume: ** - Volume rods show sudden rise and decreases during price movements. High volume movements are often important in terms of continuity or return of the trend.5. ** General Trend: ** - In general, the market can be said to have a decline tendency. However, the fact that the price is in the over-selling zone and the approach to the support level suggests that a short-term recovery or correction movement may come. - ** Short position: ** If the price breaks down the support level of 0.1000, short positions can be opened against the possibility of the decline trend. Therefore, news flow and market sensitivity should be followed carefully. This analysis offers a general comment based on existing market conditions and technical indicators. When making investment decisions, it is important that you do your own research and consider risk management.