CONFLUX Token Report – 19th May’23

Conflux (CFX) is a layer-1 blockchain that has been specifically designed to empower decentralized applications (dApps), e-commerce, and Web 3.0 infrastructure. Its aim is to surpass existing protocols in terms of scalability, decentralization, and security.

CFX token is ranked #54 with a market capitalization of nearly $862 million. The current market price of the token is $0.3 USDT

On the daily timeframe, the CFX/USDT had been on a steady downtrend since Apr’23. The chart has now broken out of the descending trendline. Further, the RSI is at a healthy level of 50. An immediate support is expected at 0.245 USDT and next resistance is expected at 0.345 USDT.

MintingM Rating – 3/5