Conflux has soared over 180% in a single month! The bull run flag pattern is poised to take off, with a key resistance breakthrough for China's Blockchain CFX imminent.

Conflux (CFX) has surged over 180% in a single month, forming a classic bull flag in its technical chart, becoming a star in the Chinese blockchain market. As the price approaches a key resistance level, traders and investors are closely following whether CFX can break through the consolidation zone and initiate a new round of pump行情. This article will provide an in-depth analysis of CFX's technical aspects, fundamentals, and upcoming major catalysts, guiding you to seize this potential opportunity.

Bull run flag pattern forming, CFX gearing up

(Source: CoinMarketCap)

CFX has recently surged strongly from the 0.07 USD range, breaking through the key resistance at 0.22 USD and consolidating at a high level, forming a typical bull flag. This technical pattern usually indicates a potential breakout after a brief consolidation. The current price hovers above 0.22 USD, and if it can effectively break through the 0.2299 USD threshold, it will confirm the continuation of the bullish trend, with short-term target prices likely aiming for 0.2572 USD or even 0.28 USD.

Technical indicators mixed signals, short-term volatility risk needs to be followed

Despite the overall bullish technical outlook for CFX, the upper Bollinger Band has reached $0.2508, and the weakening MACD suggests a potential short-term pullback pressure. The trading volume has declined from its peak, indicating a decrease in upward momentum. Traders need to closely monitor the support level at $0.1962; if it breaks, the price may test $0.2023 or even $0.1732. With high volatility, the market remains cautious, and the price action in the coming days will determine whether CFX has temporarily topped or is embarking on a longer-term upward trend.

China's Blockchain Narrative and Compliance Advantages Drive CFX Popularity

As the only public chain in China capable of issuing compliant stablecoins, CFX benefits from policy dividends and the digital economy strategy. The upcoming offshore RMB-pegged stablecoin AxCNH will further strengthen its core position in China's digital assets and the "Belt and Road" initiative. This unique advantage has attracted a large amount of capital and developer attention, providing continuous fundamental support for CFX.

Major upgrade approaching, Conflux 3.0 hard fork as a potential catalyst

The Conflux 3.0 hard fork, which is set to launch on September 1, will significantly enhance Ethereum compatibility, lower development barriers, and attract more dApps and capital into the ecosystem. This upgrade is expected to bring a new wave of ecological explosion for CFX, pushing the price to break through the upper boundary of the flag pattern and further expand the upward space.

Conclusion

Conflux (CFX) has become one of the most noteworthy targets in the Chinese Blockchain sector, driven by favorable technical and fundamental factors. The combination of a bull run flag pattern, regulatory advantages, and significant upgrades serve as three major catalysts, and CFX is expected to usher in a new round of market movement. Investors should closely monitor the resistance level at $0.2299 and the support level at $0.1962 to seize potential breakout opportunities while remaining cautious of short-term volatility risks.