agi
Blog

Cartesi Price Analysis: Will CTSI Price Hit $0.09 Soon?

single-image
  • The price of CTSI is trading at $0.1270.
  • The CTSI price decreased by 0.94% in the last 24 hours.
  • The CTSI year-to-date return is +21.88%.

The amount of CTSI traded 24 hours is $6848912.  It rose by 9.23% on the last day. The trading activity is low now because the market is unfavorable and there are not many buyers for the coin.

Trend Analyzation

This week the trend was slightly bullish more accurately, it was consolidating as the price has only been up by 1.60%. By trend and price information history, we can say that CTSI is not performing well right now. The coin’s value plummeted by more than 73% in all-time history, wiping out the investors’ money. The market mood is bleak, and there is a lack of demand or trading activity for the coin. This may explain why the coin has performed so badly.

In 1-D Timeframe

In 1-D Timeframe (1)
Source:  CTSI/USD.1D.KRAKEN by TradingView

Trendline Analyzation

As per the trendline, it’s respecting the trendline and facing rejection exactly from the drawn trendline on the chart. From the point where it declined from the trendline, it’s been bearish. As per the price action, it has been following the channel. Currently, it’s in the middle of the drawn channel. It reached the middle of our drawn channel by facing resistance from our trendline. Hence, as price action speaks, it may fall more to take support. As per the trendline, it can reach $0.09 soon which is our major support. If that breaks, we may see some new lows next.

Supertrend

With the help of just two parameters, period and multiplier, this indicator works fabulously. At period value 20 and multiplier value 2, it shows the continuous trend if it’s bullish or bearish. As shown in the chart, it’s bearish.

MACD

On the day of writing, the MACD line and the signal line both are in the negative territory and the MACD line is approaching the signal line to make a bullish crossover. Since it is still on the way,  the crossover is yet to be completed. There is no confirmed bullish sign as of now. So based on the territory the lines are in, we can say that the trend may continue downwards.

200 EMA 

The price is going down on the 1D chart. It is below the 200 EMA(exponential moving average), which is a hard line to cross. The sellers are stronger than the buyers. To change the direction, the price has to go up and stay above the 200 EMA.

Bollinger Band

The CTSI coin price is trading at the lower band of the Bollinger Band indicator after failing to surpass the upper band. After facing rejection from the 20-day Simple Moving Average (SMA) of the Bollinger bands, it’s indicating a downward move.

Conclusion

CTSI coin price as per the price action is bearish. As of now, the technical parameters indicate bearish pressure in the upcoming trading days. Presently, the sentiments of investors and traders are bearish.

Technical Levels

  • The Nearest Support Zone is $0.097.
  • The Nearest Resistance Zone is $0.155.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Leave a Comment

Your email address will not be published.

You may also like