- The CFG coin has moved above the 200-day EMA.
- It is currently trading at $0.297 with a surge of 1.08% in the last 24 hours.
- The token is down from its all-time high by 88.56%.
The CFG token marked its year high of $0.43 on 14th Mar 2023. After that, the token started a downtrend and fell to the $0.17. From there, the price took support with a great amount of volume and then started moving upwards and touched the mark of $0.37. The bearish investors then took over from the $0.37 level and took the price down to $0.209.
It is currently trading with a rise in trading volume by 16% in the last 24 hours.
The token recorded its all-time high on 14th Oct 2021, where a single CFG token was priced at $2.58.
The current circulating supply of the token is 360.26M CFG, which is 83.77% of its total supply. It has a present market capitalization of $106.54M. The 24-hour volume of the token is 313.76K.
Sentiment Analysis
The total market volume of the token surged by 22.69% in the last 1 week. The total bullish sentiments have increased by 66.13% and the total social engagements have recorded a rise of 163.6%. The overall sentiments of the token indicate a positive price action.
Technical Analysis (Daily- 1D)
In the daily chart, we can see that the price started a downfall from the $0.37 range and then took support from the $0.26 or the 200-day EMA and got up to $0.32 and then got rejected from there. It started a bearish move. The token price broke below the 200-day EMA and got the level of $0.20.
Then again the price took support from the $0.209 level and shot up. It went above the 200-day EMA again. The price is currently moving towards the resistance of $0.32 from where it might get rejected and fall again and take support from the 200-day EMA.
The price may also fall further and take support from the $0.20 level. If that doesn’t happen, the price will keep moving up and break the resistance. The next target will be $0.37.
The RSI line is currently moving at 65.66 points and the SMA 14 line is moving at 57.15 points. This line is moving above the neutral level of 50 and it will soon reach the overbought zone where immense buying can be seen. If the bullish investors kept their dominance, the price may break the resistance of $0.32.
Also, If the RSI enters the overbought zone and the price reaches the resistance level, it may get rejected. The CFG coin price will then start a bearish move and fall for a correction.
In MACD, The fast blue line moving average is moving above the red slow line. Both the moving averages are above the average 0, which shows that the token is currently under a bullish action. The volume in the histogram is also showing a rise. If the volume in the histogram decreases, the CFG coin price may start falling.
CFG LIVE CHART :
CONCLUSION :
The price is currently moving upwards above the 200-day EMA which is bullish and the price is currently approaching towards the resistance of $0.32 from where if the volume increases and the bulls keep the dominance then the price can reach $0.37 this year.
Also, If the trading volume starts to decrease then the price is likely to get rejected from the resistance of $0.32 and start a bearish move again.
TECHNICAL LEVELS :
SUPPORT : $0.26, $0.20 AND $0.17
RESISTANCE : $0.32 AND $0.37
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.