- The coin price corrected more than 50% from its highs.
- The token price breaked the symmetrical triangle pattern recently.
- Token price has declined 10% in last 30 days
How the GNO Token Price Has Performed Till Now?
After listing the Gnosis coin price went on a good rally towards $200 and gained 35% within 5 weeks of listing. However, after that, the coin price saw a huge fall from the highs because of sell-offs in the whole crypto market. This crypto asset also corrected almost 65% to the level of $80 during that period only. After that, the price tried to gain some momentum but ended up in a sideways range, where the price consolidated almost for 1 year in a broader range of $100-$130.
Technical Analysis on a 1-Week Time Frame
As we can see in the chart, the price was trading in a short range. It seems like it is heading toward the bottom to form a broader range i.e. $77- $128, currently testing the mid-range of the above levels. The RSI indicates that the price is lacking the much-needed strength to bounce from these levels as the slope of the RSI is falling towards level 30, which is a bearish sign.
Important levels at the weekly time frame are $130 which can act as resistance, and $101 and $77 can act as crucial support levels.
Technical Analysis on a 1-Day Time Frame
As it is visible in the chart the GNO coin broke the symmetrical triangle pattern in a 1-day time frame, which is a bearish sign. If it sustains the downward levels, the coin price can further go down to the lower support of $77. The GNO token price is trading below all three EMAs, which are present at the $106, $109, and $111 levels. These can play a role in resistance and try to push the price down.
Technical Analysis on a 1-Hour Time Frame
The Gnosis coin price is taking support of the trendline but the angle it is forming is bearish. So, if it breaks the trendline, it can trigger a sharp fall and the price may go to lower levels towards $77 as we discussed above.
The price is trading below the three important EMAs and it is also a bearish sign. The coin price has been taking a resistance near the $102 level for so long. It tried to go upward but came back below this level again.
Conclusion
The Gnosis token price has fallen below some important levels, which is not a good sign for buyers. So, once the $105 level breaches and the price sustains above the levels, it can try to move upward toward $120. However, if it continues the downward momentum, the coin can fall to the $ 77 level
Past Performance
- 1 Week: (3.53)%
- 1 Month: (8.27)%
- 1 Year: (34.00)%
Technical Levels
- Resistance levels: $105 and $127
- Support Levels: $101 and $77
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.