Conflux (CFX) tokens showed strong momentum in the market yesterday. On the daily chart, CFX received significant support near the Exponential Moving Average (EMA10), forming a bullish engulfing pattern. This technical Favourable Information is echoed by positive news on the fundamentals, as Conflux officially announced a partnership with a telecom giant in Southeast Asia to jointly expand Web3 identity solutions, further boosting market sentiment.

Currently, the trading price of CFX is fluctuating around $0.178. From a technical analysis perspective, $0.196 is a key resistance level that needs to be closely monitored, as this level was previously a high-density trading area. If CFX can break through this level with strong trading volume, and Bitcoin maintains a strong trend, then the next potential target price could rise to $0.21.

However, investors should also remain cautious. If the volume decreases near the resistance level, it may indicate insufficient short-term upward momentum. In this case, a wise strategy would be to consider taking profits in batches around $0.195.

It is worth noting that trading cryptocurrencies in the current market environment still carries a high risk. Investors should strictly implement risk management strategies, such as setting reasonable stop-loss levels (e.g., below 5% of the entry price), and ensuring that the capital used in a single trade does not exceed a certain proportion of the total assets, in order to control potential losses.

With the continuous development of Web3 technology, projects like Conflux that focus on building decentralized ecosystems may attract more attention. However, market participants also need to closely monitor the overall trends of the cryptocurrency market, especially the performance of Bitcoin, as it often has a significant impact on the entire market.