Canton surged 13% to $0.1491 today as the Swyftx listing expanded retail access while derivatives positioning strengthened in key metrics.
Listing on Swyftx on January 21 increased Canton’s visibility and strengthened Canton’s institutional discourse on privacy and interoperability.
Importantly, the price reaction followed quickly, suggesting that traders reacted with intention rather than hesitation.
However, this recovery did not occur amid a strong market rally. Instead, Canton (CC) selectively outperformed.
As a result, attention is now shifting to whether technical structure, leverage positioning, and liquidity conditions can support the move rather than dampen it.
Cup breakthrough holds as momentum picks up
Canton continues to trade in constructive continuity, with price holding firmly above the previous breakout zone near $0.118 to $0.120, which now forms a key demand base.
Buyers repeatedly defended this area, avoiding deeper pullbacks and confirming that this was structural support rather than a temporary rebound level.
Above the current price, the $0.150 to $0.160 region stands out as the immediate supply zone, where prior reactions and wick rejections emerged.
However, the price compressed rather than strongly rejected, suggesting absorption rather than distribution.
Maintaining the RSI above 50 reinforces this view, as momentum remains in a bullish regime despite consolidation.
If Canton maintains acceptance above $0.150, the measured cup-and-handle movement would project a continuation target toward the $0.185 to $0.190 area, aligning with visible resistance and liquidity overhead.
Until the price loses the $0.118 support, the structure continues to favor continuation of the trend rather than a breakout.
Source: TradingView
Canton: Open interest increases alongside bullish structure
Open interest climbed 18.55% to $27.0 million, showing traders additional leverage as the price strengthened.
This increase follows the rally, not a sell-off, which counts for directional bias. Often, such alignment reflects a belief rather than hedging behavior.
Additionally, leverage increased upon consolidation within the handle, but not to an extremely high level. The timing reduces the risk of immediate compression. However, leverage further increases sensitivity to volatility.
Furthermore, current positioning suggests traders are expecting a continuation rather than a reversal.
As long as the price remains above the key structure, the growth of Open Interest continues to strengthen the bullish pattern instead of undermining it.
Source: CoinGlass
The best traders go long with measured conviction
Binance top trader data shows that long accounts control around 56%, pushing the long-to-short ratio to almost 1.28. This bias highlights directional confidence without extreme imbalance.
It is important to note that long positions have increased gradually rather than climbing sharply. This pattern often reflects calculated positioning rather than emotional pursuit.
Meanwhile, short exposure remains present, preserving liquidity for directional moves. However, buyers continue to dictate dynamics.
As a result, the trader’s positioning aligns with both the price structure and the expansion of Open Interest. If this bias persists, slight pullbacks would likely attract bids rather than trigger an aggressive unwind.
Source: CoinGlass
Liquidation clusters set clear upside targets
The liquidation heat map reveals a strong upward trend, with dense short-term liquidity between $0.150 and $0.157.
These areas represent areas where leveraged shorts face forced exits if prices rise. Canton has already approached $0.150 without a sharp rejection.
Instead, prices have consolidated, suggesting that shorts remain trapped rather than cleared.
Above this band, another pocket of visible liquidity forms near $0.160, which could serve as the next acceleration zone.
In contrast, liquidation density appears more fragmented below $0.140, with comparable concentration between $0.130 and $0.128.
This imbalance reduces the likelihood of a deep decline. Therefore, the investment of cash continues to favor the continuation of the rise.
If price recovers $0.150, forced liquidations could result in a move towards $0.155-$0.160, which would align with the broader cup-and-handle projection rather than signaling exhaustion.
Source: CoinGlass
Can Canton extend this gathering?
Canton presents a consistent continuation setup, driven by structure, momentum, leverage and positioning. The Swyftx quote added visibility, but the charts and derived data now carry the story.
If buyers continue to defend the position and momentum holds above the neutral point, CC could extend its rally.
However, the sensitivity of leverage calls for caution. Overall, current conditions favor continued upside rather than immediate exhaustion.
Final Thoughts
- Market structure favors continuation as buyers consistently defend the breakout zone against larger pullbacks.
- The alignment of leverage and liquidity continues to bias near-term risk toward further upside expansion..
