Canton Network's CC token has dropped nearly 15% over the past 72 hours as selling volume picked up, pushing the price below a key level that had held since January. The decline comes even as the network posts the highest holders' revenue of any network over the past 30 days, and daily technical indicators now sit deep in oversold territory.
CC has fallen nearly 6% in the past 24 hours, and is down 17.75% over the past week and 24.95% over the past 30 days. Yet the chain posted the highest holders' revenue of any network over the past 30 days, at $55.04 million, according to DeFiLlama data cited in the report, with a burn mechanism destroying all fees collected.
That mechanism has not translated into stronger demand or a sustained price recovery. Market-wide pessimism and low buying pressure have contributed to the steady losses Canton has faced since June.
CC breaks below its January low
Canton's $0.106 low made in January has now been breached, a level that had served as the launchpad for a run to $0.195 in early February. From March to late June, CC traded between $0.135 and $0.170, marking key supply and demand zones. Over the past month the token has slid steadily lower; profit-taking, low volume, and broader risk-off sentiment may all be behind the trend.
The Chaikin Money Flow reading of -0.20 signals strong capital moving out of the market. The Relative Strength Index shows a deeply oversold reading of 20.7 on the daily chart.
Traders eye a bounce near $0.100
On the 4-hour chart, the RSI is even more oversold than on the daily timeframe, though that alone does not guarantee a bounce. Traders already in short positions can look to take profits and wait for a bounce to re-enter, watching the $0.100–$0.105 area and the $0.116–$0.119 former support zone. A test of either region followed by a rejection would signal a bearish continuation.
Source: AMBCrypto
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