Conflux Altcoin CFXUSDT 4Hour Chart Analysis April 9, 2023

CFXUSDT

According to the 4-hour chart, the bears are attempting to prevent the price from going above the 20-EMA. This may cause the pair to fall to the 200-SMA, which is likely to provide significant support.

If the price bounces back from this level, the bulls will attempt to push the price to the downtrend line, which is the critical level to monitor. If this level is breached, it would signify that the bulls have regained their momentum.

Alternatively, if the $0.30 support is breached and closed below, it could trigger more selling pressure and bring the price down to $0.25.

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