Key Moments
- Canton (CC) cooled by 2% on Tuesday after an 18% breakout on Monday that lifted it out of a falling channel pattern.
- Zcash (ZEC) reclaimed the $400 level with an 18% jump on Monday but is encountering resistance at the 50-day EMA near $412.
- Luna Classic (LUNC) extended its rebound above the 200-day EMA, adding over 4% on Tuesday after a 9% gain the previous day.
Privacy-Focused Tokens Lead Market Gainers
Privacy coins Canton (CC) and Zcash (ZEC), together with Luna Classic (LUNC), rank among the top-performing cryptocurrencies in the broader market over the last 24 hours, posting double-digit percentage moves. The technical setup for CC and ZEC remains constructive, while Luna Classic’s advance ahead of Do Kwon’s sentence hearing on Thursday may introduce additional price swings.
Canton Pulls Back After Breaking Out of Falling Channel
Canton eased by 2% at press time on Tuesday, retracing slightly after three consecutive sessions of gains that included an 18% rise on Monday. The latest move lifted the privacy token out of a falling channel pattern on the 4-hour chart, pointing to the possibility of continued upside.
On the 4-hour timeframe, a decisive close for CC above the R1 Pivot Point at $0.080 could open the way for a move toward the R2 Pivot Point at $0.095.
| CC/USDT 4-hour Levels | Price |
|---|---|
| R1 Pivot Point | $0.080 |
| R2 Pivot Point | $0.095 |
| 50-period EMA (support focus) | $0.072 |
| Saturday’s low | $0.058 |
Momentum readings on the 4-hour chart reflect strong buying interest. The Relative Strength Index (RSI) is at 63, pulling back before entering overbought territory but still holding above the midpoint. The Moving Average Convergence Divergence (MACD) line is trending steadily higher, signaling strengthening bullish momentum.
On the downside, a reversal below the 50-period Exponential Moving Average at $0.072 would expose Canton to a potential retest of Saturday’s low at $0.058.
Zcash Faces Key Barrier at 50-day EMA
Zcash surged 18% on Monday, reclaiming the $400 threshold. On Tuesday, ZEC is changing hands above $400, with buyers focused on overcoming resistance at the 50-day EMA, positioned at $412.
| ZEC/USDT Daily Levels | Price |
|---|---|
| Spot region (trading above) | $400 |
| 50-day EMA resistance | $412 |
| Psychological upside target | $500 |
| Support level (October 11 high) | $298 |
A daily close above $412 would likely extend the ZEC advance toward the $500 psychological level.
Daily chart indicators are pointing to a shift in momentum. The RSI, at 46, is climbing toward the midline from oversold territory, implying reduced selling pressure. At the same time, the MACD is moving toward its signal line, hinting at a possible bullish crossover that could underpin a renewed upward trend.
If ZEC fails to maintain pricing above $400, it could slide back to test support around $298, which aligns with the October 11 high.
Luna Classic Extends Rebound Above 200-day EMA
Luna Classic is staging further gains ahead of founder Do Kwon’s sentence hearing on Thursday, following his guilty plea to fraud related to the $40 billion Terra ecosystem collapse. At the time of writing, LUNC is up by more than 4% on Tuesday, building on the 9% advance recorded the previous day.
The token is trading above the 200-day EMA, with buyers targeting the Friday high around $0.0000700.
| LUNC/USDT Daily Levels | Price |
|---|---|
| Friday high (upside focus) | $0.0000700 |
| 200-day EMA support | $0.00005161 |
| 50-day EMA support | $0.00003925 |
The RSI stands at 69, right at the threshold of overbought territory, underscoring strong buying pressure. Both the MACD and its signal line are advancing deeper into positive territory, reinforcing the constructive near-term outlook.
A break below the 200-day EMA at $0.00005161 would shift attention toward the 50-day EMA at $0.00003925 as the next key support area.
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