Gnosis Price Analysis: GNO Gearing Up for a Massive Rally?


  • Gnosis’s EMA(10) shows a upward trend.
  • The price of Gnosis has fallen by -0.72% in the previous 24 hours.
  • Support for the bears has been established at $104.42
  • GNO price flashes signs of bearishness on 7-days price chart.

19 April 2024 : In this article we will walk you through Gnosis price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Gnosis, Is GNO a good investment? Gnosis support & resistance levels etc. But before diving deep into the GNO technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,190,697,143,424. The total trading volume stands at $92,606,349,594. Bitcoin shares 54.03 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $60,146.87 level after a decline of -2.29%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -3.84 percent reaching to $2,887.29 during the previous 24 hours.
While publishing this blog, BNB traded at $529.54, following a price change of -1.72%within the same time frame. SOL the native coin of Solana is down by -1.72 and currently trading at $130.13. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Gnosis Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Gnosis (GNO)

GNO Resistance Levels GNO Support Levels
Resistance Level 1 $114.91 Support Level 1 $104.42
Resistance Level 2 $119.42 Support Level 2 $98.44
Resistance Level 3 $125.40 Support Level 3 $93.93

Gnosis Performance

The price of Gnosis (GNO) is at $323.73, down -0.72% in the past 24-hours and has a price change of -13.08% over the week. One day trading volume for BTC is 16,055,261.00 USD while total marketcap reached $838,322,886.00 USD. There are almost 2,589,588 are in circulation out of 3000000.

Gnosis Price Analysis

GNO price analysis for 19 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Gnosis.

Moving Averages Price Indicator
Simple Moving Average (10) 110.52 Buy
Exponential Moving Average (10) 110.89 Buy
Simple Moving Average (20) 113.81 Buy
Exponential Moving Average (20) 113.69 Buy
Simple Moving Average (50) 131.98 Buy
Exponential Moving Average (50) 131.22 Buy

The relative Strength Index (RSI) indicates that the GNO coin is in oversold phase, as RSI is at 30. The MACD line is standing above of the signal line after a positive crossover. Gnosis investors need to wait for any directional change over the daily chart. While GNO’s Williams %R indicator is at -48.605 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

The value of GNO is continuously dumping but it is expected that support levels at $104.42 and $98.44 will act as crucial points and bounce the trend line in the bullish zone