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Recently, the CFX/USDT trading pair has shown obvious bearish signals, and the market sentiment is becoming cautious. The CFX price failed to hold above the key resistance level of 0.2330 USD, leading to a significant downward trend. Currently, the market is undergoing a downward correction, with selling pressure pushing the price towards an important support area.
From a technical perspective, the range of 0.2230 to 0.2250 USD may become a key trading area in the short term. Market participants should closely monitor the two lower target levels of 0.2100 USD and 0.2040 USD. However, if the price can hold above 0.2330 USD, it may change the current downtrend.
It is worth noting that if the closing price of CFX falls below 0.2200 USD, it may further confirm the market's weakness. In this case, the support level at 0.2040 USD will become particularly important. For traders looking for long opportunities, a reversal may only occur if the price can strongly break through and hold above 0.2330 USD.
Overall, the CFX market shows a clear bearish dominance in the short term. Investors should remain vigilant and closely monitor price trends and breakthroughs of key levels in order to adjust their trading strategies in a timely manner. At the same time, it is also important to remain flexible in trading thinking, as sudden reversals in the market cannot be ruled out.