Conflux CFX price climbed 8.7% to $0.072 after a partnership with PlaysOut for AI-driven gaming and cross-chain solutions. Trading volume jumped 358% to $58 million, with buyers dominating on Binance amid renewed spot demand.
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Conflux CFX price rebounded from $0.06 lows following PlaysOut partnership announcement.
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Binance spot buy volume hit 74.83 million versus 67 million sell volume between December 24-25.
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Spot netflows turned positive at $1.73 million, signaling potential profit-taking after the rally; RSI at 47 indicates fragile momentum.
Conflux CFX price surges 8.7% to $0.072 on PlaysOut partnership. Buyer dominance on Binance fuels volume spike. Discover key metrics, netflows, and outlook now. Stay updated on CFX trends.
What is the Conflux CFX price movement after PlaysOut partnership?
Conflux CFX price has shown a short-term rebound, rising 8.7% to $0.072 after trading in a descending channel from $0.146 highs. The PlaysOut partnership announcement sparked buying interest, boosting volume 358% to $58 million and market cap toward $400 million, though netflows suggest profit-taking risks.
Why did Conflux CFX spot demand surge on major exchanges?
Conflux CFX spot activity intensified post-partnership reveal. On Binance, buy volume reached 74.83 million compared to 67 million in sell volume from December 24-25, per Coinalyze data. This created a positive buy-sell delta of 7.83 million, reflecting aggressive accumulation. CryptoQuant’s Spot Taker Cumulative Volume Delta hit a weekly high, underscoring broad spot buyer dominance beyond single platforms.
Source: Coinalyze
These metrics highlight a sentiment shift driven by the collaboration’s potential in scalable blockchain infrastructure and AI gaming tools.
Conflux’s partnership with PlaysOut lifts sentiment
Conflux announced a partnership with PlaysOut to advance AI-driven gaming and cross-chain interoperability. The initiative focuses on building scalable Layer 1 infrastructure, AI engagement tools, and mini-game deployments. Web2-to-Web3 onboarding and regional expansion are also priorities. This development served as a catalyst, prompting speculative buying and contributing to the Conflux CFX price uptick.
Source: CryptoQuant
Profit-taking resurfaces as price stalls
CoinGlass data indicates spot netflows shifted positive to $1.73 million, the first such move in nearly three weeks. This typically signals exchange deposits for profit realization post-rally. Historical patterns link these inflows to downside pressure when trends remain weak.
Source: CoinGlass
Technical indicators signal mixed Conflux CFX price outlook
TradingView charts show RSI peaking at 54 before retreating to 47, indicating sellers countering buyers. Trend Strength Index stays negative at -11, reflecting bearish pressure.
Source: TradingView
Sustained buyer control could push Conflux CFX price toward $0.093 resistance, while seller dominance might test $0.068 support.
Frequently Asked Questions
What caused the recent Conflux CFX price rebound to $0.072?
The PlaysOut partnership for AI gaming and interoperability announcement drove the Conflux CFX price up 8.7% to $0.072. Spot volume surged 358% to $58 million, with Binance buyers leading accumulation, per Coinalyze and CryptoQuant metrics.
Is Conflux CFX showing strong buyer interest right now?
Yes, Conflux CFX exhibits strong short-term buyer interest. Buy volume exceeded sells on Binance by 7.83 million, and Spot Taker CVD reached weekly highs. However, positive netflows at $1.73 million hint at emerging profit-taking.
Key Takeaways
- Partnership boost: Conflux-PlayOut collaboration on AI gaming sparked a volume surge and 8.7% Conflux CFX price gain.
- Buyer dominance: Binance data shows 74.83M buy vs. 67M sell volume; CryptoQuant confirms spot CVD peak.
- Caution on netflows: $1.73M inflows signal profit-taking; monitor RSI at 47 and TSI at -11 for next direction.
Conclusion
The Conflux CFX price rebound ties directly to the PlaysOut partnership, fueling spot demand and volume spikes amid buyer activity on platforms like Binance. While short-term metrics from Coinalyze, CryptoQuant, and CoinGlass show promise, technicals like RSI and rising netflows urge caution on sustainability. Track Conflux developments for potential moves toward $0.093 or downside to $0.068, positioning investors for informed decisions in this evolving market.
Source: https://en.coinotag.com/conflux-rally-on-playsout-partnership-faces-profit-taking-pressure
