Gann Analysis for CFX/USDTThis chart shows **CFX/USDT** on a daily timeframe with a Gann Square overlay highlighting price and time levels. Below is the analysis:
### **Chart Analysis:**
#### **1. Overview:**
- **Asset:** CFX (Conflux) against USDT.
- **Current Price:** **0.1691 USDT** (up by **3.62%** today).
- **Gann Levels and Geometry:** This Gann Square incorporates key levels and angles, with major supports and resistances derived from both price and time.
#### **2. Key Gann Levels:**
- **0° = 0.1025 USDT:** Strong foundational support level; a potential long-term bottom.
- **90° = 0.1370 USDT:** Recent support where the price bounced upwards.
- **180° = 0.1766 USDT:** Current resistance zone; the price is consolidating just below it.
- **360° = 0.2706 USDT:** A significant upside resistance level.
- **450° = 0.3251 USDT:** A key medium-term target.
- **540° = 0.3846 USDT:** Represents further resistance on a bullish breakout.
#### **3. Price Action Insights:**
- The price is currently attempting to break through **180° (0.1766 USDT)** after bouncing off **90° (0.1370 USDT)**.
- If the price holds above **180°**, it could trend higher toward **360°** in the coming weeks.
#### **4. Diagonal Analysis:**
- **Green and Pink Lines (Gann Angles):** These represent key areas of reversal or breakout, depending on the interaction with price and time.
- If the price aligns with the diagonal resistance, it may temporarily retrace.
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### **Potential Scenarios:**
#### **Bullish Scenario:**
- **Condition:** Sustained price action above **0.1766 USDT** (180° level).
- **Targets:**
- **First Target:** **0.2706 USDT (360°)**.
- **Second Target:** **0.3251 USDT (450°)**.
#### **Bearish Scenario:**
- **Condition:** Rejection at **0.1766 USDT** and a breakdown below **0.1370 USDT**.
- **Targets:**
- **First Target:** **0.1025 USDT (0°)**.
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### **Recommendations:**
#### **Short-Term Traders:**
- Watch for a breakout above **0.1766 USDT (180°)** with volume confirmation for potential long entries.
- Place stop-loss below **0.1370 USDT (90°)** to minimize risk.
#### **Long-Term Investors:**
- Accumulate near strong support levels such as **0.1370 USDT (90°)** or **0.1025 USDT (0°)** for a favorable risk-to-reward ratio.
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Wish you best of luck Trading!
