Altcoin Shenanigans: Will RAIN, CC, and VELVET Moon or Go Splat?

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Good heavens, what’s this? Rain (RAIN), Canton (CC), and Velvet (VELVET) are all poised to make a dash for the stars, or so the chappies with their noses in the charts would have us believe. Fibonacci levels, momentum readings, and whatnot suggest these three might just hit new heights before the weekend’s out. Pip pip!

RAIN, the plucky little token, is hanging about 11% below its peak, while CC is playing it cool, lounging 16% under its February high. VELVET, the bounder, is already in price discovery, setting records like it’s going out of fashion.

RAIN: 11% Shy of Glory After the $0.011 Breakout

Rain (RAIN), the old bean, burst through its previous record near $0.011 on May 26 and kept the champagne flowing until it hit $0.0148 on May 27. Now it’s trading around $0.0132, taking a breather like a chap after a spot of tennis.

The pullback, if you can call it that, has a clear target. The 0.5 Fibonacci retracement at $0.0108 overlaps the previous all-time high, creating a support level so strong it could stop a charging rhinoceros. Or at least a particularly determined terrier.

A similar rigmarole occurred between November 24, 2025, and April 7, 2026. Back then, RAIN bounced off the 0.5 retracement like a rubber ball, with a single long wick briefly touching the 0.786 level. If history repeats itself, we might see a fleeting dip to $0.0085 before the uptrend resumes. Tally-ho!

The daily Relative Strength Index (RSI) has eased to 63, still above neutral, which keeps the bullish bias as intact as Jeeves’s demeanor after a spot of trouble.

Fundamentals, old sport, are looking spiffing. The protocol recently became a top-three prediction market by total value locked after its foundation deployed $100 million in liquidity. Betting on the FIFA World Cup could send volumes through the roof this weekend. Capital!

Canton: Coiled Like a Spring Between $0.15 and $0.1725

Canton (CC) is pottering about near $0.163, roughly 16% below its February peak of $0.195. The token has been confined to an ascending parallel channel for months, like a chap stuck in a particularly tedious dinner party.

Two levels are now calling the shots. Resistance lurks at the 0.618 Fibonacci retracement near $0.1725, while support rests in the $0.15 zone, just under the 0.382 level at $0.158. It’s all very exciting, if you’re the sort who finds watching paint dry thrilling.

The channel’s upper band currently aligns with that $0.1725 barrier. A daily close above it would set the stage for the 0.786 retracement at $0.183 and then the record itself. However, CC already stumbled near this resistance earlier this year, so confirmation is key. Don’t want to jump the gun, what?

The daily RSI is a neutral 59, leaving room for a dramatic move in either direction. It’s like a game of cricket where both teams are equally likely to win or lose. Thrilling stuff.

Institutional demand may tip the scales. The recent 21Shares ETF listing brought regulated exposure to CC just as network settlement volumes keep climbing. One can only hope the chaps in suits don’t muck it up.

VELVET: Aiming for $2.46, Then $4.27 in a Vertical Dash

Velvet (VELVET), the daredevil of the bunch, has been on a tear, climbing for roughly 10 consecutive daily candles and gaining more than 1,300% in a week. The token trades near $1.72 after setting a record above $1.80 earlier today. It’s like watching a chap climb the social ladder at a particularly fast pace.

With no price history above, logarithmic Fibonacci extensions are the only guide. VELVET has already cleared the 1.618 extension at $1.14, leaving the 2.0 level at $2.46 as the next target. Above that, the 2.272 extension waits at $4.27. It’s all very heady stuff.

The daily RSI sits near 99, an extreme overbought reading. It’s like a chap who’s had one too many at the club-bound to end in tears, but what a ride while it lasts. The signal reflects historic momentum but also warns that a violent correction could arrive without notice.

Demand stems from the pre-IPO trading theme and VELVET’s integration with Trade.xyz, announced on June 2. If that flow persists, the exponential trend could stretch into the weekend. Fingers crossed, old bean!

Three new records now hinge on RAIN holding $0.011, CC clearing $0.1725, and VELVET extending its vertical run. Failure at any of those levels would turn the weekend into a momentum reset instead. It’s all a bit of a gamble, but then, isn’t that the fun of it?

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2026-06-12 16:21