Conflux is up 11% in a day, but can CFX bulls keep the price above $0.07?

Conflux [CFX] was among the highest gainers in the past 24 hours with an 11% price surge. The altcoin's daily trading volume surpassed $75 million as its market cap neared $400 million. Here are the details as to how the daily rally unfolded: Conflux shatters range consolidation The price action of Conflux broke a multi-month descending trendline resistance at the start of March. This resistance had been in place since July 2025. Since then, it has entered a sideways consolidation phase that has lasted for more than two and a half months. A lower timeframe chart showed Conflux also broke out of the sideways-range market. The range was characterized by two horizontal levels at $0.04709 and $0.06823. A confirmation came through a retest of the $0.07 zone. Consequently, CFX surged to around $0.08 as the price traded above the 100 EMA. The MACD bars indicated bullish strength, with the signal lines showing a positive direction. Furthermore, there was a capital inflow, as seen in the Chaikin Money Flow (CMF). The CMF reading was at 0.04, from the negative territory of 0.27. With the altcoin's breakout, more upside could be anticipated if the price stays above $0.07. However, CFX appears to be pulling back following this rally. That said, what specific network activity metrics were behind this move? Chain activity fueling price breakout Liquidity was growing on the network because its stablecoin market cap increased from $2,008 to $5.24 million in 18 days. In terms of weekly growth, the stablecoin market cap rose by 18.61%. Additionally, the app revenue increased by almost 6x in two days. On May 12, the revenue was $23, reaching $138 at the time of writing. Despite the massive increase, these figures were very low compared to other blockchains. Moreover, the transaction count per day reached a new high since April. The total transactions spiked to 28,198 from 11,634 during this surge. This represented a 2.5x surge. New users were starting to come back after months of inactivity. As per Confluxscan, the number continues increasing, with users growing from 29 to 118 this month. In short, apart from the technical breakout, chain activities were also responsible for this surge. Consistency in the network and buyer activity could help keep this breakout alive. Still, there was a need to be wary of corrections that happen in uptrends. Final Summary Conflux surged 11% after breaking out from a sideways range market, confirmed with a retest at the $0.07 zone. Conflux's network activity, like transaction count, app revenue, stablecoin market cap, and user growth, drove the rally.