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The price of the Cartesi token has increased by roughly 9% today. This seems like a significant recovery considering the previous price increases seen over the past two sessions. Those could be considered a pullback, while today’s price movement is the real correction. This is because price action was able to move through notable landmarks.
Key Price Levels:
Resistance: $0.2500, $0.3000, and $0.3500
Support: $0.2000, $0.1500, and $0.1000.
CTSI Contracts Downward After Popping the $0.2500 Ceiling
Today’s trading activity in the Cartesi market has seen considerable price downward contractions. Nevertheless, trading activities continue above the Exponential Moving Average (EMA) curves. This seems favorable at the moment, as price action still has the chance to continue upward.
Also, the Stochastic Relative Strength Index (SRSI) can be seen to have converged for a crossover below the 40 level of the indicator. This is happening despite the bearish contraction. By implication, this holds some optimism for price action, as it appears that bulls may renew their upside momentum.
CTSI Bulls Are Hanging On Tightly
While the downward contraction seems to have increased by a minute fraction in the CTSI 4-hour market, it can still be seen that upside forces are striving to stay atop the storms. The upper shadow on the last price candle here can be seen appearing longer, showing that the downward forces are growing stronger.
Nevertheless, the session remains under the control of upside forces, as the price candle representing the current session stands above that of the previous session. The SRSI lines can be seen rising sharply following an upside crossover at the 80 level of the indicator. Therefore, traders can continue to use bullish crypto signals in this market since it appears more likely that the upside correction may approach the $0.3000 mark.
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