Summary:
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Cartesi price (CTSI/USD) spiked 16% in the last 24 hours.
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Cartesi spiked earlier this month after RockX launched a pool with its Noether staking delegation.
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Cartesi bridges the gap between smart contracts and mainstream programming languages.
The utility token of the blockchain-based programming platform Cartesi (CTSI/USD) rallied more than 15% in the last 24 hours, with trading volume spiking more than 54%. It is bouncing back after pulling back from all-time highs reached earlier this month.
Cartesi seems to be riding secondary tailwinds from a November 10th announcement that spiked a rise of more than 100%. The platform expressed optimism after RockX launched a pool with its Noether staking delegation.
Should you buy the rebound?
From an investment perspective, Cartesi creates a unique opportunity for the software development industry, allowing developers to code smart contracts with mainstream programming languages like Python, REST, MongoDB, MySQL, Ruby.
As a result, it offers a more scalable ecosystem compared to Ethereum, thus giving it an exciting outlook.
Cartesi’s market value has now soared to a market cap of more than 532 million. However, it is still below the all-time highs reached on the 11th of November, thus leaving room for more upward movements.
Source – TradingView
Technically, Cartesi seems to have recently bounced back to complete an upward breakout from a descending channel formation.
However, with the CTSI/USD price yet to reach overbought conditions, the current rally could continue for the foreseeable future.
Therefore, investors could target extended gains at about $1.3097, or higher at $1.4241. On the other hand, $0.9369 and $0.8182 are crucial support levels.
In summary, the current rebound in the CTSI price seems to have more room left to run.
The post Cartesi price prediction as volume spikes 154% in 24 hours appeared first on Coin Journal.
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