Cartesi Price Prediction 2023: Will CTSI Price Reach Beyond $0.2?

Key Takeaways:

• The Cartesi price surged by more than 75% since the beginning of 2023 and is maintaining a strong bullish momentum to reclaim the lost levels at the earliest
• The bulls appear to have accumulated enough strength that may keep up the upswing and reach the desired target at around $0.5 
• The volatility of the token is believed to rise in the coming days as the whales have shed of their holding to some extent that may kick-start a giant bull rally soon

Additional Read: Can Polygon Outperform Solana?

Cartesi Price History

• Cartesi token debuted within the markets just after the market collapsed in March 2020 due to the Covid outbreak. 
• The price traded flat until the first few days of 2021 and ignited a massive upswing during the last few days of January 2021
• The price surged finely and marked highs around $1.45 and dropped to $0.32 in the next 2 months
• However, the rally rebounded finely and surged high but the bears managed to restrict the price at $1.23, beyond which the price maintained a steep bearish trend
• The price traded within a descending trend throughout 2022 and marked the bottoms around $0.1 by the end.
• However, since the beginning of 2023, the price has largely trading under the bullish influence and attempting to reclaim the lost levels

Cartesi Technical Analysis

Source: Tradingview

• The CTSI price is trading within a decisive symmetrical pennant, more likely to break above the upper resistance
• The price is trading close to the upper resistance of the pennant and accumulating strength to break above the consolidation
• The price may hover along the resistance for a while and may leap long just before the closing of the monthly trade. 
• The crucial resistance lies around $0.1788 but the breakout from the current consolidation may be capped at $0.1700. 
• A fear of rejection may haunt the rally at these levels, but if the bulls maintain their strength, the rally may rise high to reach the targets after a minor pullback

Overview of Cartesi On-chain Analysis:

Cartesi Supply on Exchanges

Source: Santiment

The supply on exchanges determines the number of tokens held by the exchanges. This often indicates the availability of liquidity on the exchanges which is much required to carry out a ‘buy’ trade. However, it reduces the demand over the exchanges due to the immense supply over the platform. It also indicates the interest of the traders and the market sentiments toward the token.

To one’s surprise, the CTSI’s balance on the exchanges has depleted over time which indicates the traders are not in the mood to store their tokens on the platform. It also indicates the likeness of the traders to hold the token for a long time in their wallets, away from the exchanges. However, these traders bring their tokens back to the exchanges when they wish to sell or swap their tokens and that is when the supply increases.

Cartesi Whale Accumulation

Source: Santiment

Whale accumulation is considered one of the important on-chain indicators which may indicate the sentiments of market participants. A rise in the whale accumulation indicates the bottom of the bear market, post to which a notable upswing may begin. However, in the present case, the whales who were accumulating heavily flipped and liquidated a huge part of their holdings. 

The whales holding 1 million to 1 billion tokens have slashed their holdings drastically which may create huge FUD within the markets. This could further impact the CTSI price which may be stuck within a descending consolidation for a long time. Else may continue to hover within a narrow range for a longer time ahead.  

Read More: Guide To Crypto Tax In India

Cartesi  MVRV (30 Day)

Source: Santiment

The MVRV or the Market value to Realized value ratio determines whether the token is undervalued or overvalued. It shows the ratio between the current price and the average price of the token acquired. If the ratio increases, it indicates that the people are willing to sell the token, which could mount a selling pressure. 

However, the MVRV ratio of Cartesi has dropped steeply below the average levels which indicates that the traders are accumulating. This also signals the impending bullish movement as the token is heavily undervalued at the moment.

Cartesi  Price Prediction for 2023

The token with the current upswing is recovering within a parabolic curve and attempting to reach the levels it lost in August 2022. The trading volume has increased notably to display the dominance of bulls and hence the upswing may prevail for long. However, by the end of Q1 the prices could rise beyond $0.25 and by the end of Q2, the price could rise beyond $0.3 after withstanding bearish actions. 

During the beginning of the second half of 2023, the price may remain largely consolidated within narrow ranges around $0.3. By the mid of Q3, the bullish momentum may gear up which may uplift the price beyond $0.35. However, by the end of Q4, the Cartesi price is believed to range between $0.37 to $0.39.

Cartesi  Price Prediction for 2024

The Cartesi price is believed to rise above $0.4 during the first few days of 2024 as the bullish momentum may have geared up since the last few weeks of 2023. The price is believed to reach beyond $0.5 quickly by the end of Q1 which could validate a bull run. The Q2 trade may be pretty bullish and the price is believed to surge heavily and secure the $0.55 resistance level. 

The second half of 2024 may witness a giant price action as the price may range beyond $0.75 by the end of Q3 and try to reach $1 by the end. However, despite a significant bullish momentum, the bears may hinder the progress of the rally. Hence the price levels may range between $0.85 to $0.9 by the end of 2024.

Cartesi  PRICE PREDICTION 2025-2030

Cartesi price may begin the 2025 trade on a bullish note and quickly rise above $1 and may close the yearly trade around $1.2 after withstanding significant bearish pressure. The bears could dominate throughout 2026 keeping the rally restricted below $1.5. While, the price may rebound and begin with a recovery in 2027 and head close to $2. 

During the 2028 trade, the price may begin with significant upswing at frequent intervals, displaying the growing strength of bulls. Further, during the 2029 trade, the CTSI price may begin with the next bull run and rise high to form a new ATH. However, the bullish momentum may ease in the Q2 2030, where-in the price may drop within a steep corrective phase or even a bear market. 

Should you invest in Cartesi in 2023? 

Cartesi has been displaying immense bullish momentum ever since its inception and hence believed to recover the lost levels in the coming days. Meanwhile, the network growth also may rise with a decent amount of upgrades in the near future impacting the value of the token. However, prior to this, a deep understanding of the project, its team, the future vision, etc is paramount and also the chart patterns with a close observation on the price trend is imperative.

FAQs