Cartesi (CTSI) price prediction after the relentless sell-off

By: Stanko Iliev
Stanko Iliev
Stanko dedicates himself to providing investors with relevant information they can use to make investment decisions. He loves the… read more.
on Oct 4, 2021
  • CTSI has collapsed from its recent highs
  • $0.50 represents strong support
  • Cartesi overcome scalability problems

Cartesi CTSI/USD remains under pressure; the price of this cryptocurrency fell from $1.27 to $0.49 since 9th August 2021, and the current price stands around $0.67.

There is still a level of uncertainty

Cartesi is a layer-2 platform that allows developers to code smart contracts and DApps directly with mainstream software components and Linux OS resources. Limitless coding, massive scalability, and privacy are the main characteristic of this platform while preserving the strong security guarantees of Ethereum.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

DApps running only on smart contracts face severe constraints on the amount of data they can manipulate, while DApps running on Cartesi can process virtually unlimited amounts of data.

Cartesi DApps are composed of blockchain and off-chain components, and it is important to mention that off-chain components run under a complete Linux operating system that provides the full ecosystem required by complex computations.

Developers are able to create from simple to rather complex smart contracts by using all the programming languages, tools, libraries, software, and services on Cartesi.

Cartesi was founded in 2018 by Augusto Teixeira, Erick de Moura, Augusto Teixeira and Colin Steil and it is important to mention that Serguei Popov, the founder of IOTA, became one of Cartesi’s earliest investors. Serguei Popov said:

The Cartesi team realized they were tapping into a broader scope, and the project evolved into developing a versatile layer-2 Linux infrastructure to overcome the problems of scalability, computation, and infrastructure for blockchain applications.

CTSI is a utility token that powers the Cartesi network by solving blockchain scalability and high fees using a technology called Optimistic Rollups. The CTSI token is currently available on many exchanges, and investors can also buy CTSI via the Revolut app.

Fundamentally looking, there is still uncertainty surrounding this project, and its success mainly depends on its strategy to expand its market influence.

Technically looking, Cartesi (CTSI) remains under pressure, and if you decide to buy this cryptocurrency at the current price, you should use a “stop-loss” order because the risk remains high.

Bears in control of CTSI

Data source: tradingview.com

Cartesi (CTSI) has collapsed from its recent highs above $1.20, and it may take a long time for prices to see any bigger recovery. The risk of further declines is still not over, the critical support level stands at $0.50, and if the price breaks it again, the next price target could be at $0.40.

On the other side, if the price jumps again above $1 resistance, we have the open way to $1.20.

 Summary

Cartesi is a layer-2 platform that allows developers to code their smart contracts and DApps from simple to rather complex variations. Technically looking, Cartesi (CTSI) remains under pressure, and the risk of further declines is still not over.

Where to buy right now

To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:

  1. Etoro, trusted by over 13m users worldwide. Register here >
  2. Capital.com, simple, easy to use and regulated. Register here >