Canton (CC) To Rally Higher? Key Breakout and Retest Hints At Major Upside Move

Key Takeaways

• CC has broken out of a well-defined Cup and Handle pattern on the daily chart.
• The $0.1560–$0.1680 zone, now retested successfully, is acting as strong new support.
• The 50-day moving average aligns with the breakout zone, adding technical confluence.
• A move above $0.1881 could trigger renewed bullish momentum.
• The measured breakout target stands near $0.2752, implying ~57% upside potential.

The broader cryptocurrency market is staging a strong rebound, with Bitcoin up 4% and Ethereum surging nearly 9% in the past 24 hours. This renewed wave of momentum is lifting several altcoins, including Canton (CC), which has climbed around 9%.

But beyond the daily bounce, CC’s chart structure is what truly stands out. The recent breakout and successful retest suggest that the rally may just be getting started.

Retested Cup and Handle Breakout

On the daily timeframe, CC had been consolidating within a well-defined Cup and Handle formation — a classic bullish continuation pattern that often develops during accumulation phases before a strong expansion move.

The rounded “cup” structure formed after CC bottomed near $0.0620, followed by a steady recovery toward the neckline resistance zone between $0.1560 and $0.1680. After multiple attempts, buyers finally pushed price decisively above this resistance cluster.

The breakout triggered a sharp rally of nearly 20%, sending CC to a local high around $0.1881, confirming a clear shift in market structure toward bullish control.

As commonly seen after strong breakouts, price pulled back to retest the former resistance zone. CC dipped back into the $0.1560–$0.1680 region — an area that also aligns closely with the 50-day moving average, adding confluence to the support.

So far, this retest has been constructive. Buyers stepped in, defending the zone and pushing price back toward $0.1748. Holding above the breakout area signals that the market is accepting higher price levels, a key sign of trend strength.

What’s Next for CC?

As long as bulls continue to defend the $0.1560–$0.1680 support cluster, the broader bullish structure remains intact.

The next immediate hurdle is the recent swing high near $0.1881. A sustained move above this level would likely confirm renewed upside momentum and trigger continuation buying.

From a technical standpoint, the upside projection derived from the depth of the cup formation points toward the $0.2752 region. This measured-move target implies a potential upside of roughly 57% from current levels — aligning with classic Cup and Handle breakout expectations.

On the downside, a breakdown below the $0.1560 zone would weaken short-term momentum and could lead to further consolidation. However, unless price falls back into the lower half of the cup structure, the broader trend bias would remain constructive.

For now, the successful breakout and clean retest suggest that CC may be preparing for its next leg higher — with momentum building beneath the surface.