Technical analysis by P_S_trade about Symbol CFX on 7/23/2025

Recently, #CFX price shot up very strongly, due to the publication of the news that: #ConfluxNetwork, China's Tier 1 blockchain, announced the launch of #Conflux 3.0 in August and announced plans to help issue a stablecoin pegged to the offshore yuan as China explores the possibility of issuing yuan stablecoins. The news already reads as “very vague, promising...” but let's remember that we are talking about China, where crypto has been gradually banned since 2013 and finally banned in 2021. 💰 Looking at the CFXUSDT chart, we see that the price cannot be fixed above $0.19, which means that you should be careful with longs. 📈 If the words from the news are confirmed by actions, then the #CFX price will definitely consolidate above $0.19 and then it will be safe to open a long position. 🐻 And if the desired cannot be realized, then a correction to the $0.085-0.105 zone may become a new reality. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more🪙 Perhaps this time, the #CFX price will be able to hold on and consolidate above $0.19 We should closely monitor the next approach of the #CFXUSDT price to this zone. ➕ Today, we should also closely monitor the opening and dynamics of the US stock market after Bloody Friday and the weekend when there was no trading.... 🖥 Maybe it's really because of the #Conflux project that China will return crypto to the legal channel... we'll find out soon)