Cartesi price has been in a strong bearish trend in the past few months as investors battle multiple risks in the market. The CTSI token is hovering near its all-time low and is currently trading at $0.1873. This price is about 90% below its all-time high, bringing its total market cap to more than $105 million. So, is Cartesi a good investment?
Cartesi is a Singapore-headquartered company that is hoping to become the most important platform for web3 creators. It describes itself as an operating system that will help to transition to this decentralized ecosystem. Cartesi is made up of three important components known as Cartesi Machine, Cartesi Rollups, and Noether. Machine is the virtual machine that emulates the RISC-V architecture and can run a full-fledged Linux OS.
Cartesi Rollup is a layer-2 system that relies on the Cartesi Machine to allow developers create decentralized applications with mainstream software components. Finally, Noether is the platform’s side chain for data availability. Recently, this Noeether was upgraded from PoS to PoS 2.0, with the goal of gas optimization. Meanwhile, CTSI is the native currency for the ecosystem that can be staked. Over 215 million CTSI has been staked.
On the daily chart, we see that the CTSI price has been in a strong bearish trend for months. This month, the coin crashed below the important support level at $0.2855, which was the lowest level on March 14th. It was also the neckline of the small head and shoulders pattern that formed. It has also moved below the 25-day and 50-day moving averages.
At the same time, the mass index indicator has been moving downwards. Therefore, there is a likelihood that the CTSI price will have a bearish breakout as bears target the key support at $0.100, which is about 45% below the current price. On the flip side, a move above the key resistance at $0.31 will invalidate the bearish view.
This post was last modified on %s = human-readable time difference 11:03