Canton Network is showing promising signs of a bullish trend as its price chart reveals a developing cup-and-handle pattern. According to the official information, this technical formation suggests that the asset may be poised for further gains, especially as it approaches the upper boundary of the pattern.
Recent Price Action and Demand for Canton Network
The recent price action indicates a rebound from the $0.11 support zone, highlighting a resurgence in demand for Canton Network. Currently, the asset is trading at approximately $0.1289, following a significant intraday recovery that has caught the attention of traders.
Positive Outlook and Potential Price Target
An ascending channel remains intact, which supports a positive outlook as long as the key support levels are maintained. If the current momentum persists, analysts are beginning to speculate about a potential short-term price target in the vicinity of $0.20. This could attract further interest from investors.
While Canton Network shows signs of a bullish trend, Roman Trading has issued a warning regarding the bearish dynamics in the Bitcoin market. For more details, see the full report here.
