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Price activity in the Cartesi market swung high and tested the $0.3200 resistance about 16 sessions ago. However, it looks like the market hit some targets, which caused a moderate downward correction in that session. There were more downward corrections in subsequent sessions, but considering the market on a medium scale, it could be seen that it is not lacking participation as prices maintain a general upside trajectory.
Cartesi Statistics:
CTSI Value: $0.2524
Cartesi Market Cap: $196,893,619
CTSI Circulating Supply: 777,330,683
CTSI Total Supply: 1,000,000,000
Cartesi CoinMarketCap Rank: 240
Key Price Levels:
Resistance: $0.2524, $0.2600, and $0.2700
Support: $0.2500, $0.2400, and $0.2300
Cartesi Price Increases by 6.75%
Looking at the crypto daily movers list, it could be observed that the CTSI price has increased notably. Consequently, this has advanced the price of this token further upwards of the 38.20 Fibonacci Retracement level. This market also happens to be above the 21-day Moving Average curve and therefore suggests that prices may still continue upwards.
Meanwhile, the Stochastic Relative Strength Index (SRSI) indicator has also displayed a bullish crossover below the 40 mark of the indicator. By implication, this suggests that traders are likely to utilize more bullish crypto signals, as buying confidence may strengthen at this point.
CTSI Contracts off the $0.2600 Mark
As trading activities continue, price action in the Cartesi 4-hour market seems to be contracting toward the opening of the session. This is clearly displayed by the appearance of an upper shadow on the last price candle on the chart above. However, the market stands at a considerable distance above the 21-day Moving Average Curve.
Nevertheless, the Stochastic Relative Strength Index lines seem hyperreactive to the price movement in the market. This therefore seems to caution that headwinds may regain control at a nearby resistance. As a result, traders might want to keep their targets not too far from the $0.2600 mark as such have more chances of winning, considering market technical indicators.
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