The performance of the CFX market has recently attracted attention. Looking back to March 2023, CFX experienced a significant rise amidst the Hong Kong concept boom. However, upon closer observation, it can be noted that market makers had already positioned themselves and gradually exited as market sentiment peaked.

At that time, the range above $0.2 attracted a large number of retail investors. The market makers adopted a clever selling strategy, creating the illusion of an increase through multiple price surges and gradually dispersing their positions. This technique appeared multiple times after the 2023 peak, repeatedly challenging previous highs and giving the impression that prices would rise again.

As we enter March 2024, the market has experienced another false breakout. Meanwhile, in July of this year, CFX rose from $0.06 to $0.27, which also contains some traces of market manipulation.

The recent market trends are more worthy of attention. After a large bullish candle appeared on July 14, the normal logic would suggest a continued rise. However, on July 21, a high-volume bearish candle closed, indicating that some funds are taking profits. The upper shadow of July 28 further clearly shows that large funds are gradually distributing their holdings under the pretext of good news.

It is worth noting that the timing of the release of favorable news such as "3.0 upgrade + offshore RMB stablecoin" coincides quite cleverly with the market rally, which further strengthens the market's buying willingness.

However, the current market state does not seem to be a simple bait for buyers, but rather more like a consolidation behavior. If the CFX price can return to 0.22 USD and stabilize, it may trigger a new round of increases, with a target price of around 0.3 USD.

Overall, the trend of CFX is still full of uncertainty, and investors need to remain vigilant, closely monitoring market movements and the operational traces of market makers.