Reviewed by Reviewed by Renuka Tahelyani Updated 12:00 EDT October 11, 2026 Share Share Share Back to Top Conflux [CFX] bounced back from $0.047 and broke out of a multi-month descending channel. The token held $0.05 before climbing to a five-month high of $0.064
At press time, Conflux traded around $0.0604, up 17% on the daily charts. Over the same period, Trading Volume surged 1,071% to $157 million, reflecting a sharp increase in market activity
The rally coincided with China’s reported call for a national blockchain network, putting Conflux’s domestic positioning back in the spotlight
The Chinese Communist Party and State Council called for a national blockchain network as part of a broader economic blueprint
The proposal also targeted an integrated computing power network, linking blockchain infrastructure with the country’s digital development plans
Conflux [CFX] describes itself as China’s only regulatory-compliant public, permissionless blockchain. That positioning could explain renewed investor interest following the announcement
However, the supplied evidence did not confirm a Conflux role in the proposed network. For traders, the immediate question is whether the policy excitement can sustain demand after the initial rally
Notably, encouraged by recent developments, investors rushed into the market to position themselves strategically
On the derivatives side, for example, Derivatives Volume climbed 2,007% to $449 million. At the same time, Open Interest surged 44% to $44 million
Such a massive jump in both OI and volume indicated increased participation with traders taking leveraged bets. Thus, investors aggressively opened new positions, both short and long
On the spot side, traders also rushed to accumulate. On October 10, Conflux’s buy volume rose to 256 million before dropping to 37 million on October 11
At the same time, the Buy Delta was positive at around 24 million, a clear sign of aggressive spot accumulation
Historically, strong demand in both the spot and derivatives markets has preceded further gains on the charts
Conflux made a clear breakout as bullish pressure intensified. Looking at the Relative Strength Index (RSI), it formed a bullish crossover and rose to 68, confirming this trend shift
At these levels, the RSI indicated rising buyer dominance. Often, such a setup has preceded a trend extension
Therefore, if the recent demand holds, Conflux is likely to extend the rally and flip $0.07, leaving $0.077 as the next significant resistance
However, if speculation around China’s latest decree fades, we could see another drop toward $0.055
Gladys Makena is a Cryptocurrency and Financial Analyst at AMBCrypto with four years of market analysis experience. Her quantitative expertise is supported by a strong background in Finance, providing a solid foundation for a data-driven approach. At AMBCrypto, Gladys is committed to providing the community with timely and insightful news, reports and technical analysis
