$CAN
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$CAN Daily Candle Chart
Thats your THIRD touch
Stop crying 😭
This guy just handed all his gains back on a silver platter.
Classic bag holder move 🤣🤣
The chart read is incomplete. $CAN isn’t in a “full bearish alignment” — it’s in a low-volume accumulation range.
Price has been moving sideways between $0.87–$1.03, which is classic post-capitulation basing, not institutional selling. Distribution requires surging volume and breakdown candles — none of which are present. The flattening volatility, thin Ichimoku cloud, and neutral OBV all point to absorption, not rejection.
Calling it a downtrend across all timeframes ignores the fundamental catalysts now stacking beneath the chart:
• Frost & Sullivan ranks Canaan #2 globally in ASIC compute power
• Q3 revenue beat expectations with strong YoY growth
• New partnerships: SynVista Energy (green compute + AI load balancing) and SLNH hosting
• Expanding footprint: Canada, Japan, Ethiopia, North America
• Zero meaningful short interest + 106 institutional holders
• Active share-buyback program
• Industry shift toward efficient ASIC compute (AI + BTC heat-reuse + clean-power mining)
These are not the signals of
$CAN is in a clear downtrend across all timeframes, currently trading at $0.9785. The daily chart shows a breakdown from a multi-month consolidation zone ($1.05-$1.10), followed by a sharp decline into late November and continued weakness into December.
Both the 5-minute and 15-minute charts confirm short-term bearish momentum, with price below all Ichimoku cloud components (red cloud) and weakening volume indicators (Net Volume and OBV), pointing to distribution. The anchored VWAP lines on the daily chart act as resistance, and price remains below the key $1.00 level with no signs of reversal.
With all three timeframes aligned bearish, the outlook suggests institutional selling and no immediate support.
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