Canton Breaks Above $0.17 Targeting $0.20 as Retail Interest Surges
- Surge in Retail Interest: Following Canton’s listing on Swyftx on January 21, retail trader participation has significantly increased, pushing the price up from $0.15 to the current $0.15206, indicating strong buying pressure and enhanced market confidence in the token.
- Cup and Handle Formation: A classic cup and handle pattern has formed on Canton’s daily chart, with a breakout above the $0.17 neckline expected to propel the price towards the $0.20 to $0.22 range, further solidifying its upward trend in the market.
- Increased Confidence in Derivatives Market: According to Coinglass, open interest in Canton’s futures market has risen by 8.37% to $29.13 million, while trading volume surged by 28.07% to $59.70 million, indicating new money entering the market and strengthening the bulls' control.
- Key Support and Resistance Levels: Canton must hold above the 20 EMA at $0.1444 and break above the $0.156 resistance to confirm the cup and handle pattern and target $0.20; failure to maintain above the 50 EMA at $0.1375 could expose the token to downside risks.
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Technical Analysis for CC
Technical Sentiment Analysis for Canton Network (CC) As of , Canton Network (CC) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 3 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for CC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, CC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Canton Network (CC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.116 | 0.136 | 0.156 | 0.176 | 0.196 | 0.216 | 0.236 |
| Fibonacci | 0.136 | 0.151 | 0.161 | 0.176 | 0.191 | 0.201 | 0.216 |
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