Canton (CC) saw a sudden spike in activity this week, but traders remain cautious.
Volume jumps but still small for the market cap
Canton’s 24-hour trading volume rocketed 288% to $21.97 million at the time of writing, according to CoinMarketCap — a dramatic intraday move, but modest given CC’s roughly $2.64 billion market capitalization. The surge coincided with a late-hours 5.2% price pop on December 14, although Canton stalled under the $0.077 local resistance.
Newsflow likely drove the uptick
Market attention appears to have been driven by a string of positive updates. On December 10 Canton said its RWA (real-world asset) ecosystem will be powered by RedStone’s customizable data feeds — a partnership that likely sparked the late-week rally. Blockdaemon also highlighted Canton’s suitability for tokenized funds, citing private execution, provable atomic interoperability and independent sovereignty. One day earlier (Dec. 9), Digital Asset reported completing a second set of transactions on the Canton Network, a milestone that increased stablecoin liquidity on-chain.
Technical picture: still tilted bearish
Technicals temper the short-term optimism. On the 12-hour chart, key swing highs sit at $0.0797 and $0.0824; these need to be cleared to re-establish a bullish structure. Canton remains in a bearish structure overall after a lower low at $0.0587 in the first week of December. Although $0.0723 has shown signs of being reclaimed, accumulation is lacking — the Accumulation/Distribution (A/D) line has been flat — and momentum readings (Awesome Oscillator) remain bearish. (Source: CC/USDT on TradingView)
Lower timeframes reinforce the cautious view
Shorter timeframes are not more encouraging. Following a rapid rally on December 8 — just before the RedStone announcement — price action has largely stagnated. The 1-hour A/D is trending down, suggesting selling pressure. Until the $0.076–$0.079 zone is convincingly flipped to support, the safer trading bias is bearish; a bounce into that supply zone may present a selling opportunity. Conversely, if $0.079 is retested and holds as support, that would open the door for a move toward $0.10 and potentially higher.
Bottom line
Canton’s recent partnership and network milestones sparked a meaningful volume spike and a short-lived rally, but the technical backdrop and weak accumulation argue for caution until clear support flips occur.
Disclaimer: This article is informational only and is not financial, investment, or trading advice. Do your own research before making investment decisions. Source: CC/USDT on TradingView. © 2025 AMBCrypto
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