Canton Network's CC token jumped 13.59%, breaking past a two-month trading range on rising altcoin demand. Traders now watch the $0.125 zone as a potential buy-the-dip level, with $0.150 marking the level needed to flip the longer-term trend bullish.
CC climbed 13.59%, placing it among the day's best-performing large-cap altcoins. Only Ethena's ENA, up 25%, posted a bigger gain. The move came as broader market sentiment tilted toward altcoins, with Canton Network's institutional-grade real-world-asset and token-burn narrative helping sustain the rally.
Mint/scan data shows heavy activity but no deflation yet
Cantonscan data showed the daily mint/scan ratio at 0.614, or 61.4% — a high figure, though not yet enough to make the token deflationary. The reading follows CC's break above a range that had held since late July, with a key swing high now in focus for further upside.
Range breakout points to $0.150 target
On the daily chart, CC has broken past the $0.125 range high after the $0.09 demand zone was tested and defended three times since August. Even so, the broader swing structure remains bearish, and a rally past $0.150 is needed to flip it, since that level marks the latest lower high of the long-term downtrend.
Volume indicators support the breakout. The accumulation/distribution indicator has climbed back to July levels, while the Chaikin Money Flow reading of +0.17 points to heavy buying and capital inflows.
A range breakout often sees the former range high retested as a demand zone before continuation higher, though this pattern does not always hold. That puts $0.125 in focus as a key area to watch, since a slide back into the old range would signal the breakout failed. To the north, $0.150 is the next long-term swing target, with the range's width also putting $0.162 in view as a further bullish target.
Source: AMBCrypto
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