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- 1 The CANTO coin price is trading at $0.28426.
- 2 The coin price has registered a gain of 284.72% from its 2023 low.
The CANTO coin price prediction is bullish for the upcoming months. The coin has shown a commendable rise in price and is likely to show remarkable growth in the upcoming years due to the promising prospects of the crypto market.
The CANTO coin price rose by 284.72% from its 2023 annual low. This shows how the token has outperformed since then.
Recently, the CANTO coin gave a breakout from the symmetrical triangle supported by a strong buying volume. This shows some crypto whales have again invested in the coin and are expecting outperformance in the upcoming months.
The ongoing uptrend is currently halted and is not able to make it continue further. It has been stuck in a range of $0.25279 to $0.30548 for the past 16 trading days.
At press time, the CANTO price is currently trading at $0.28426 with a 24-hour trading volume of $44.565K. It has registered a gain of 1.05% in the last 24 hours.
Technical Indicators on the CANTO Price Movement
The CANTO crypto price has been trading above the 50-day and 100-day EMA; showing an ongoing uptrend and stronghold of the buyers. However, the price is trading a bit far from the EMA lines which shows a short-term retracement or narrow-range consolidation is possible.
The relative strength index is at 60.06 which is marked in the bullish territory. The RSI line is also sloping in the upward direction; showcasing the ongoing buying pressure. The space left in the upward direction shows the continuation of the buying pressure.
Will the Buyers Continue to Control the CANTO Price?
The CANTO coin price prediction favors the bulls as long as the buyers defend the $0.25279 level which will increase the chances of continuation of the bullish trend.
However, the investors should wait for the breakout of the $0.30548 level. After which, the next phase of a bullish rally can be initiated till its next resistance at $0.35817.
In addition to this, the ongoing uptrend is supported by a high buying volume which makes it more reliable to hold the upper level.
The $0.25279 level plays an important role for the buyer. Thus, the breakdown of this level may cause a panic selling situation which may lead to a fall in price. If this happens, then the CANTO price may fall to its next support at $0.19616.
Conclusion
The CANTO price prediction looks bullish in the upcoming months. The RSI is showing a continuation in the price rise may continue. However, the EMA lines show a small pullback is possible in the upcoming trading days. This may cause confusion among the buyers. So, traders should wait for the breakout of the $0.30548 resistance level. They can also look for an entry at the time of retracement by finding a strong bullish candle that is supported by strong volume.
Technical Levels
Resistance Levels: $0.30548 and $0.35817
Support Levels: $0.25279 and $0.19616
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
