Conflux had a massive surge a few hours ago. It prints its longest candle in years, a result that has many expressing astonishment over its latest feat.
The coin opened trading on Sunday at $0.106 but shot up. The 2-hour chart showed that the surge started around 2:00 UTC. It has since been on the rise with slight pauses. One such was around $0.155. CTX spent more than six hours below the mark.
However, it broke above $0.169 after flipping the mark. Trading action afterward indicated that the bulls used the price level as a launchpad for further attempts at other key levels.
The coin broke the $0.180 resistance. The flip was a milestone, as it was the first time the asset had attempted the level since January. Nonetheless, the altcoin continued upward, flipping $0.20 and peaking at $0.25, the highest of 2025.
At its peak, CFX gained a massive 136% but is significantly lower at the time of writing. The 2-hour chart shows that it grappled with notable selling pressure over the last 4 hours.
Why is Conflux up?
The community is thrilled at the prospect of a massive improvement in the Conflux network. Several stakeholders announced upcoming developments that will drive more growth.
One such is the partnership with China Telecom and Little Red Book. With both companies boasting an average of 250 million customers, the project will see more utility. They also announced the impending launch of the RMB stablecoin pilot that will comply with existing regulatory standards.
The biggest development was the impending upgrade to the Conflux network. The Treegraph 3.0 is the latest version, set to launch in August. It comes with several benefits for the layer-1. One such improvement is in its TPS capacity, which will enable it to process 15,000 transactions per second.
The upgrade will add a new feature to the network. It supports AI agent calls and on-chain payments for real-world assets. These features are part of the broader improvements that will drive more users to the blockchain.
What Next?
The 2-hour shows that the asset is grappling with notable selling at the time of writing. It trades at 30% less than its peak. However, the chart reveals other sell signals.
A closer look at the relative strength index indicates that the coin has been overbought since the early hours of Sunday. The metris is currently at 95, showing that it remains overbought. There have been no major corrections in the last 24 hours. It means that the asset may see one in the coming days.
The bollinger bands show Conflux trading above the upper band. It maintained this trend for most of the day. A retracement is almost inevitable, as a breakout from the indicator may signal the end of the uptrend.
In other news, CFX is the top gainer on the top 100. Following closely behind is ENA with gains exceeding 15%. The asset opened the day at $0.43 and shot up, breaking above its three-month high of around $0.46. It continued upward, returning to a level it lost in February.
The altcoin peaked at $0.52. However, it is experiencing a slight price decline at the time of writing.
