Centrifuge (CFG) spiked by about 50% after the Bingx trading platform opened CFG futures trading yesterday. Despite CFG adding value, the token has hit resistance at $0.17, which also happens to be the 200-day moving average. With the sellers taking profit, the newly established macro uptrend might be at risk.
Centrifuge, a project that is focused on tokenizing real-world assets, had a sudden spike in its price. The CFG price shot up by almost 50%, rising from $0.120 to nearly touching $0.190 after the trading platform, BingX, opened trading for CFG futures.
The open interest (OI), which represents the number of derivative futures or option contracts, also increased drastically. On March 16, 2026, the OI, which was at $655K, increased exponentially by more than 1700% in just a couple of days, and it is now at $12 million. A rise in the OI shows active market participation and the strength of the market direction.
CFG hits resistance at the 200-day MA – $0.17
CFG was able to cross above the 200-day moving average (yellow line), as shown in the chart below, for a brief moment. However, as the excitement faded away, the CFG once again crashed below the 200-day MA, which is at $0.17.
CFG’s macro uptrend is at risk as sellers increase
Priced at $0.15, the token is now inside a neutral trading price level according to the relative strength index (RSI) indicator. With a value of 56 on the RSI scale, the market is quite neutral or has reached an equilibrium, as the buyers largely cancel out the sellers, although sellers have a slight advantage.
With the sellers having a slightly better hold of the market, CFG is currently shedding value. As the prices are crashing, the newly established macro trend of making higher lows might be in danger of being dismantled if the sellers keep the pressure. If CFG is to maintain its bullish higher low pattern, the lowest it can fall to is $0.13.
