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Cartesi Price Prediction: CTSI Shrinks 1% – Bridging the Gap in Smart Contracts?

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Cartesi CTSI has shown signs of a steady decline in the past week, with a 14.3% price drop. However, its price at 4:21 a.m. EST today is $0.11, with a slight increase of 0.2%. Its rapid decline from $0.15 on August 14 to $0.11 indicates a rise in bearish pressure. 

Cartesi CTSI has remained below the $0.16 resistance level since July 20, although the $0.11 support level prevents further price drop for the asset. Also, the asset has been in a sideways trend since August 18, signaling a reduction in its trading volume. 

It continues to trade close to its support level of $0.11, maintaining this price level from August 21 till date. Despite repeatedly testing the $0.16 resistance, the bulls failed to break above it to force a price recovery. 

For Courtesy CTSI to rally again, it must break out of the sideways trend and trade above the closest resistance level. 

What Next For Cartesi?

CTSI has repeatedly attempted to shake off the bearish pressure and force a rally. However, the small-sized candles on the daily chart hint at fading investor interest, likely due to increased fear. 

Today’s fear and greed index is 37, with traders proceeding more cautiously due to the sharp downturn on August 17. 

Historically, CTSI snapped out of a sideway trend to touch the $0.17 price level on July 10; a repeat of such price action is still possible, although it will likely drop into the oversold region first.

Courtesy

CTSI is in the lower region of the Donchian Channel (DC), confirming that selling pressure is rising despite the limited trading activity.

The Relative Strength Index (RSI) has a value of 36.65, showing the dominance of sellers in the market. But it is rising, suggesting a potential recovery ahead for the asset since it has found support. 

Also, the Moving Average Convergence Divergence (MACD) shows a fading sell signal dropping below its signal line. The fading Histogram bars suggest a potential re-entry of buyers in the present support zone. 

Courtesi

The Fibonacci Retracement tool reveals that a psychological resistance level forms at the 23.6% Fib level ($0.12) critical to a price recovery for CTSI. After it found support at $0.11, a break above $0.12 could trigger the buyers to force a rally to the $0.16 resistance level. 

However, the small-sized candles confirm fear and indecision as the prevalent market sentiment and might signal a continuation of the sideways trend for the next few days. 

Nevertheless, if more buyers open long positions, forcing a price recovery, then $0.12 is the closest target to take profit.  

Cartesi Rollups Could Be Pivot For Price Recovery

On August 16, a Cartesi contributor, Felipe Argento, introduced Cartesi Rollups as application-specific rollups with a Linux runtime.

According to Argenta, Cartesi Rollups is a game changer with the application-specific setup an ideal framework for advanced applications.

Users can build in a permissionless, non-discriminatory environment and optimized gas usage. Additionally, it has a fraud-proof system resistant to delay attacks.

All research and design for the projects on the rollups take place on the Cartesi Discord channel. This innovation will likely attract more users to the ecosystem and boost the value of CTSI.

Also, Cartesi is one of the participants attending the Ethereum Global event in New York, USA. Participants can showcase their development skills and get a share of the $450,000 price pool. 

These events create more awareness in the crypto community, projecting the Cartesi ecosystem as a development hub. These developers will use CTSI tokens for their transactions, thus increasing their value.

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Staking adds long-term value to the YPRED tokens, preventing users from dumping the tokens after listing. According to the exciting roadmap, the project is still in development, with the beta phase ready to launch by Q2 2023. 

This phase covers yPredict Analytics, trading terminals, and predictions. Also, it covers token development, promotion, sales, and listing. The next step will focus on growth and attaining a $100 million market cap for YPRED tokens. 

Finally, after the ecosystem is fully developed, the developers will target marketing campaigns to reach over 1 million active users across all yPredict affiliated platforms. yPredict will likely power the crypto and AI integration soon. 

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