Canton Network CC has experienced one of the most prominent daily increases in the cryptocurrency market, surging by about 12% in a short period 🔥📈
However, this increase – despite its strength – does not necessarily mean the trend will continue, as the scene shows a divergence between entering and liquidating positions, making the picture more complex.
📉 Despite the strong rise.. a segment of investors is leaving!
Despite the price surge towards the level of 0.07480, a noticeable immediate selling wave began from traders who preferred to take profits, bringing the selling volume to about 803,000 as a tactical exit step.
🔎 Before that, the mood was completely different:
Between December 6-7, buyers pumped around 1.1 million in purchases and accumulation, reflecting significant confidence preceding the recent correction wave.
💡 Interestingly, the pullback seems more like profit-taking rather than a loss of confidence, especially with strong data supporting the project from a technical and institutional usage perspective.
⚠ The real threat does not come from immediate selling but from the world of derivatives!
The derivatives market shows a potential readiness for a downward move, as some traders have started opening positions targeting to benefit from any subsequent decline.
📊 And although Long to Short ratios are generally still positive.
However, the trading volume of derivatives in some major markets showed a dominance of selling, which means that the movement of sellers there may pressure the price if it continues.
🔺 Continued pressure may create new short positions.
🔺 Negative funding refers to the tendency of traders to bet on a decline.
📈 But.. buy signals have not disappeared!
The A/D (Accumulation/Distribution) indicator has gradually risen since December 5, indicating that there is accumulation happening in the background, meaning that other investors are buying CC at levels they consider attractive.
But 👇
The indicator remains below the positive area, meaning that selling pressure is still stronger than buying strength so far.
🔥 The next scenario: Breaking resistance means the birth of a new wave.
If CC can break through the descending resistance line on the chart, it may signal a broader return of bullish momentum, and perhaps the beginning of a new upward wave.
📌 What we are watching now.
🟩 Continuous accumulation despite selling.
🟩 Potential support if the price stabilizes above the last lows.
🟥 Major resistance needs to be broken to confirm the trend.
🟥 Pressure from the derivatives market may create a temporary decline.
🧠 Summary of the scene.
✨ CC has achieved a strong increase of 12%.
✨ Exit from some traders aiming for profit, not loss of confidence.
✨ Derivatives are the most influential factor in the upcoming direction.
✨ Slow accumulation continues and a potential positive signal upon breaking resistance.
✨ The bullish scenario remains intact if the price maintains its cohesion.
