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๐ฅ Canton Network: Is the 13% rise of CC sustainable or just a leverage effect? ๐$CC
The Canton network has seen a sharp increase in the value of the CC currency over the past 24 hours, recording gains of nearly 13%, amidst continued liquidity accumulation in the market. ๐ข๐
However, despite this noticeable increase, some questions remain about the nature of demand and the true level of momentum, especially given that the majority of the movement relies on leveraged perpetual contracts. โกโ๏ธ
๐ฅ Canton Network: Is the 13% rise of CC sustainable or just a leverage effect? ๐
$CC
The Canton network has seen a sharp increase in the value of the CC currency over the past 24 hours, recording gains of nearly 13%, amidst continued liquidity accumulation in the market. ๐ข๐
However, despite this noticeable increase, some questions remain about the nature of demand and the true level of momentum, especially given that the majority of the movement relies on leveraged perpetual contracts. โกโ๏ธ
The Canton network has seen a sharp increase in the value of the CC currency over the past 24 hours, recording gains of nearly 13%, amidst continued liquidity accumulation in the market. ๐ข๐
However, despite this noticeable increase, some questions remain about the nature of demand and the true level of momentum, especially given that the majority of the movement relies on leveraged perpetual contracts. โกโ๏ธ
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๐The Filecoin price curve ($FIL ) shows a strong and clear upward phase after a long period of consolidation and decline. Hereโs the simplified technical analysis ๐
๐น Overview of price movement:
Last bottom: at level 1.27 ๐ป
Current peak: at level 3.97 ๐บ
Approximate current price: 3.32
We observe that the price has risen by more than 200% approximately over a short period, which indicates a strong buying wave (Bullish Momentum) driven by significant momentum from traders.
๐ Technical analysis:
General trend:
The trend has shifted from bearish to strongly bullish, with a clear breakout of several consecutive resistance levels.
Support and resistance:
First support: 2.32
Second support: 1.73
Current resistance: 3.97
Next potential resistance: 4.20 then 4.80
Technical indicators:
Long blue candles reflect the strength of buyers and the continuity of momentum.
The yellow line (likely the Parabolic SAR indicator) is still below the price, confirming the bullish trend.
๐ฎ Short-term expectation:
If the price maintains stability above 3.00 โ 3.20, we may witness a retest of the level 3.97 and possibly a breakout towards 4.50 ๐
However, if it fails to hold above 3.00, the price may return to the support area of 2.30 โ 2.50 to rebalance before any new rise.
โ ๏ธ Alert:
The market is currently in an overbought zone, which may lead to a temporary correction before continuing to rise. It is best to monitor volume movement to confirm the upcoming trend.
#TRYHARED @Amine_trx #FILCOIN
{future}(FILUSDT)
๐The Filecoin price curve ($FIL ) shows a strong and clear upward phase after a long period of consolidation and decline. Hereโs the simplified technical analysis ๐
๐น Overview of price movement:
Last bottom: at level 1.27 ๐ป
Current peak: at level 3.97 ๐บ
Approximate current price: 3.32
We observe that the price has risen by more than 200% approximately over a short period, which indicates a strong buying wave (Bullish Momentum) driven by significant momentum from traders.
๐ Technical analysis:
General trend:
The trend has shifted from bearish to strongly bullish, with a clear breakout of several consecutive resistance levels.
Support and resistance:
First support: 2.32
Second support: 1.73
Current resistance: 3.97
Next potential resistance: 4.20 then 4.80
Technical indicators:
Long blue candles reflect the strength of buyers and the continuity of momentum.
The yellow line (likely the Parabolic SAR indicator) is still below the price, confirming the bullish trend.
๐ฎ Short-term expectation:
If the price maintains stability above 3.00 โ 3.20, we may witness a retest of the level 3.97 and possibly a breakout towards 4.50 ๐
However, if it fails to hold above 3.00, the price may return to the support area of 2.30 โ 2.50 to rebalance before any new rise.
โ ๏ธ Alert:
The market is currently in an overbought zone, which may lead to a temporary correction before continuing to rise. It is best to monitor volume movement to confirm the upcoming trend.
#TRYHARED @Tryhared #FILCOIN
๐น Overview of price movement:
Last bottom: at level 1.27 ๐ป
Current peak: at level 3.97 ๐บ
Approximate current price: 3.32
We observe that the price has risen by more than 200% approximately over a short period, which indicates a strong buying wave (Bullish Momentum) driven by significant momentum from traders.
๐ Technical analysis:
General trend:
The trend has shifted from bearish to strongly bullish, with a clear breakout of several consecutive resistance levels.
Support and resistance:
First support: 2.32
Second support: 1.73
Current resistance: 3.97
Next potential resistance: 4.20 then 4.80
Technical indicators:
Long blue candles reflect the strength of buyers and the continuity of momentum.
The yellow line (likely the Parabolic SAR indicator) is still below the price, confirming the bullish trend.
๐ฎ Short-term expectation:
If the price maintains stability above 3.00 โ 3.20, we may witness a retest of the level 3.97 and possibly a breakout towards 4.50 ๐
However, if it fails to hold above 3.00, the price may return to the support area of 2.30 โ 2.50 to rebalance before any new rise.
โ ๏ธ Alert:
The market is currently in an overbought zone, which may lead to a temporary correction before continuing to rise. It is best to monitor volume movement to confirm the upcoming trend.
#TRYHARED @Tryhared #FILCOIN
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