Conflux Price Prediction: Massive CFX Transfer to Private Wallet Stimulates Rebound, Will There Be "Big Events" in September?

Conflux (CFX) has experienced a strong Rebound, robustly recovering from the recent Fluctuation caused by the upcoming v3.0 upgrade. Today (4th) during the Asian session, CFX is reported at 0.2124 USD, with a daily pump close to 10%. The market capitalization of Conflux is currently 1.1 billion USD, with a daily volume reaching 453.7 million USD, growing 151% compared to the previous trading day.

This rebound occurred after a significant drop of 10% on August 3, when the price had just announced an upgrade, leading to $1.7 million in long liquidations. Interestingly, shortly after the sell-off, approximately $14.23 million worth of CFX was transferred to private wallets, indicating a new round of accumulation.

The v3.0 upgrade of Conflux will be released on September 1, aimed at enhancing compatibility with Ethereum and refining its Proof of Stake (PoS) rules. Traders view the price trend as a classic "sell the rumor, buy the news" situation—the recent decline is indeed a buying opportunity.

CFX Price Analysis

(Source: Trading View)

From a technical perspective, CFX has broken through its pivot point of $0.189 and the 30-day moving average of $0.14, with the RSI rebounding from the oversold region and rising to 59.5. The next key resistance level is at $0.228, and if the sustained buying continues, this level could open the way to the July high of $0.27.

Although the token has achieved an impressive 199% growth over the past 90 days, the current question is whether the v3.0 upgrade can bring enough real-world adoption and ecosystem expansion to maintain growth momentum in the coming months.