Conflux (CFX) has seen a notable price surge in the past 24 hours, climbing 10.59% following the release of its ambitious roadmap for the next 3-5 years. This uptick comes amid increased trading activity, signaling renewed investor interest and growing momentum for the token.

The newly unveiled Conflux roadmap has sparked excitement in the crypto community, outlining key developments aimed at revolutionizing the blockchain space. Focusing on advancements in scalability, privacy, and AI integration, Conflux aims to solidify its position as a leading Layer 1 blockchain platform.

Investors have shown particular interest in innovative features like Proof of Useful Work (PoUW) and zero-knowledge proof technology integration. These enhancements are expected to significantly boost network performance and security, addressing current limitations in the blockchain ecosystem.

From a technical analysis perspective, the CFX price chart is showing promising signals. An inverse head and shoulders pattern is forming on the daily timeframe, typically considered a bullish reversal indicator. The neckline of this pattern, acting as resistance, sits around $0.18 – a level currently being tested by the price.

A breakout above this neckline with strong volume could confirm the bullish reversal, potentially pushing CFX towards a $0.28 target. Key support levels have been identified at $0.12 and $0.16, corresponding to the shoulders of the pattern.

The Relative Strength Index (RSI) is currently just below 60, indicating room for further upward movement before reaching overbought conditions. Meanwhile, the Chaikin Money Flow (CMF) hovers around -0.03, suggesting a neutral money flow as the asset consolidates before a potential breakout.

In the derivatives market, CFX has seen significant activity. Trading volume for CFX derivatives has surged by 88.54% to $470.16 million, while open interest has increased by 15.15% to $58.84 million. This surge in both volume and open interest indicates an influx of new capital, further reinforcing the bullish sentiment surrounding CFX.

As Conflux continues to develop its ecosystem and implement its ambitious roadmap, investors and traders alike will be closely watching CFX’s price action and adoption metrics in the coming weeks and months.