After nearly hitting $0.50 per token over the weekend, Conflux (CFX), the token that powers Conflux’s high throughput, Tree-Graph powered layer-1 blockchain, has fallen back beneath the $0.40 level. According to CoinMarketCap, that means the token is now down around 10% in the last 24 hours. Nonetheless, price predictions remain bullish. 

However, the cryptocurrency is still among one of the best performers in the last seven days, having gained a staggering over 60% during that time period. Indeed, despite its latest pullback, CFX is still holding well above the key $0.37 support area, which is roughly in line with February’s high. CFX is up 200% versus earlier monthly lows in the $0.13 area, when the cryptocurrency bounced from its 50DMA.

Meanwhile, Conflux’s on-the-year gains stand at around 1,700% and observers are unsurprisingly asking whether whales are buying and pumping the move. That certainly could be the case.