A fresh partnership gave Conflux (CFX) a short-lived lift — but technical cracks from weeks of selling still dictate the token’s outlook.
Price snapshot and recent moves
- After getting rejected near $0.146 about a month ago, CFX has been sliding inside a clearly defined descending channel, falling to a local low around $0.06.
- The token tried to bounce, spiking as high as $0.078 before easing back. At press time CFX was trading at $0.072, up 8.7% on the day.
- Volume surged sharply alongside the move, jumping 358% to roughly $58 million, and market capitalization climbed toward $400 million — signs of renewed short-term participation even as the overall structure remains fragile.
Partnership as a catalyst
- The immediate catalyst was a new collaboration between Conflux and gaming studio PlaysOut. The teams said they will explore AI-driven gaming, cross-chain interoperability and scalable blockchain infrastructure, along with AI-powered engagement tools and next-generation game use cases.
- Plans also include potential mini-game deployments on Conflux’s Layer‑1, Web2-to-Web3 onboarding initiatives and regional expansion efforts.
- That announcement prompted speculative buying across spot markets as traders rushed to position for a possible uptick in demand tied to the partnership.
Order-flow and flow data backing the rally
- Exchange-level and on‑chain flow metrics showed real buying pressure, not just headlines.
- Coinalyze reported Buy Volume of 74.83 million vs. Sell Volume of 67 million between Dec. 24–25, producing a Buy‑Sell Delta of +7.8 million — a clear sign of aggressive spot accumulation.
- CryptoQuant’s Spot Taker CVD showed Buyer Dominance jumping to a weekly high on Dec. 24, indicating fresh spot demand beyond a single exchange.
- CoinGlass recorded Spot Netflow turning positive for the first time in nearly three weeks, with net inflows around $1.73 million — levels not seen since August. Positive netflows often reflect increased exchange deposits that can accompany profit-taking after sharp rallies.
Why caution remains warranted
- Despite the buying, early signs of distribution followed the spike. Historically, quick spikes in profit-taking have often led to renewed downside for CFX when the broader trend is still bearish.
- Technical indicators paint a mixed-to-bearish picture:
- RSI briefly moved into bullish territory, touching 54, but has since fallen back to about 47, suggesting sellers absorbed recent buying.
- The Trend Strength Index (TSI) remained negative at around -11, implying prevailing bearish pressure.
What to watch next
- The token appears to be at a tug-of-war between renewed buyer interest driven by the partnership and longer-term selling pressure from the downtrend.
- A sustained buyer push could see CFX test roughly $0.093. If sellers reassert control, a slide toward $0.068 is a plausible near-term target.
Disclaimer
This article is informational and not investment advice. Crypto trading carries high risk; do your own research before making decisions.
Sources: Conflux / PlaysOut announcement; Coinalyze; CryptoQuant; CoinGlass; TradingView. © 2025 AMBCrypto
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