CTSI Technical Analysis in Weekly TimeframeHello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:
CTSI has broken an important support trendline in the weekly timeframe. The price is down 70% from its previous local high of $0.4625 and is likely to drop 30% more if the downtrend continues.
CTSI has maintained a long-term strong horizontal support at $0.098 and will most likely continue to do so in the upcoming days.
The Stochastic RSI indicates bullish momentum, potentially pushing the price to reach the primary resistance level at $0.207 (Previous Support).
To reach its all-time high level, CTSI needs to increase by approximately 10x from the current market price, which will indeed be challenging.
- Lower Support: $0.098.
- Primary Resistance: $0.207.
- Higher Resistance: $0.422.
- Invalidation Point: A breakdown and close below the lower support level.
DYOR, NFA.
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