🧠 Overview of Cartesi (CTSI)
Layer 2 protocol built on Optimistic Rollups aimed at improving scalability and reducing high fees on blockchain networks like Ethereum.
It allows developers to build decentralized applications (dApps) using a Linux environment, making programming easier and providing higher performance.
CTSI is used as the native token within the Cartesi ecosystem, and is used to cover transaction fees, data storage, and participate in governance.
📈 Technical Analysis
Current Price: Approximately 0.1168 with an increase of 81% over the past 24 hours.
Trading Volume: Exceeded 180 million dollars, indicating high trading activity and increased liquidity.
Technical Indicators
Broke through the resistance level at 0.10, indicating the start of an upward trend.
Relative Strength Index (RSI) at 70, indicating an overbought condition.
Positive crossover in the MACD indicator, reinforcing bullish expectations.
🚀 Reasons for the Rise
1. Launch of Honeypot v2: Led to increased interest in the project, driving the price up by 80%.
2. Increase in Trading Volume: Daily trading volume exceeded 180 million dollars, reflecting growing interest from investors.
3. Positive Media Coverage: The project received extensive media coverage, attracting the attention of traders and investors.
🎯 Predictions
Support Levels: Range between 0.10 and 0.12.
Resistance Levels: Range between 0.14 and 0.16.
Forecast: If the momentum continues, we may see a rise towards 0.20 in the medium term.
🚨 DYOR