Cartesi (CTSI) Eyes More Losses Despite a Brief Bullish Retracement

The price of the Cartesi token increased by a modest 2.49%. Despite this uptick, price action in this market still appears vulnerable to persistent headwinds. As a result, the small gains recorded so far may be short-lived. Let’s take a closer look below.

CTSI Statistics

Current Price: $0.0330

Market Capitalization: $29.41M

Circulating Supply: 891.96M

Total Supply: 1B

CoinMarketCap Rank: 577

Key Levels

Resistance: $0.0400, $0.0500, $0.0600

Support: $0.0300, $0.0250, $0.0200

Cartesi Retreats Below Key Levels

Earlier in the session, price action in the CTSI daily market briefly pushed through the 9-day Exponential Moving Average (EMA) line. However, this move appears to have triggered selling pressure, causing the market to retreat.

The last price candle on the chart remains green but has lost a significant portion of its gains to headwinds. Likewise, the Stochastic Relative Strength Index (SRSI) indicator lines have reached the overbought region, with the terminal ends of the curves beginning to descend toward the 80 level of the indicator.

CTSI Sets a Path Toward the $0.0300 Price Level

On the Cartesi 4-hour price chart, price action has started to move along a downward path. Prices have declined for two consecutive sessions. The last price candle is red and has formed a hammer pattern, subtly suggesting that upside forces are attempting to re-emerge.

However, the fact that price action remains below the 9-day EMA curve indicates that headwinds are likely to maintain control.

In addition, the SRSI indicator lines have delivered a downward crossover below the 50 threshold. Considering these signals, prices in this market may drift lower toward the $0.0300 support level.

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