- Gnosis focuses on building decentralized infrastructure and experimentation for the Ethereum ecosystem.
- On 24 April 2017, Gnosis placed its Initial Coin Offering (ICO) to the general public selling approximately $12.5 Million worth of cryptocurrency coins.
- Let’s analyze the coin through technical analysis and gather some information related to it.
The founder of Gnosis is Stefan George and it was founded in 2015. It works under the Ethereum blockchain technology.
The GNO coin was initially performing very well. In 2021, it started its downward journey because of a crash in the cryptocurrency market.
According to forecasts, GNO is bearish and it is predicted to increase to $103.04 price level in today’s session.
Many cryptocurrencies have registered some recovery in the market. It made some recovery but not at a good pace.
Technical Analysis of GNO
The token from March 2022 is falling. In May 2022, it started to move between a range of a support level and a resistance level.
The image indicates that the coin made strong levels. The coin was unable to break those levels.
According to Coincodex, the F&I Index (Fear & Greed Index) is showing 47 (Neutral). The price volatility over the last 30 days was around 1.40%.
Is Investment in Gnosis the Right Decision?
According to current forecasts, GNO is bearish which indicates that it is bad to buy it in 2023.
Investors should consider both technical analysis and fundamental analysis before buying any investment security.
There is a slight bearish momentum in the cryptocurrency market. However, the long-term market sentiments are bullish and gnosis could hit $154.47 in 2024.
Will the GNO Coin Go Up Again?
According to Coincodex, the prices might decrease by (19.29%) in the next month and might reach $83.16 by 20 October 2023.
In the next 6 months, the coin might gain 33.71% and reach $137.77 by 18 March 2024.
The price is predicted to drop by (3.56%) and reach $99.36 by 25 September 2023. It recorded 17/30 green days in the last 30 days which is around 57%.
Price prediction of GNO from 2024-2030
| Year | Low | High |
| 2024 | $82.57 | $262.97 |
| 2025 | $150.64 | $459.86 |
| 2025 | $112.35 | $405.05 |
| 2027 | $115.19 | $143.21 |
| 2028 | $77.99 | $547.62 |
| 2029 | $259.76 | $1,108.42 |
| 2030 | $154.67 | $957.98 |
Live Chart of GNO
Conclusion
Through the technical analysis, we can conclude that the coin is not performing well in the monthly, weekly, and daily time frames.
In the daily time frame, it is in a sideways position. In the monthly time frame, according to Candlestick, it may move lower in the future.
The coin might do good in the future as it is a promising project. The market sentiments are bullish but bulls are trying to step into the market.
Crypto investors should have proper knowledge about the cryptocurrency market.
Technical Levels
Resistance Level- $123.70
Support Level- $80.89
Disclaimer
The analysis is done for providing information through technical analysis and no investment suggestions are given in the article to be made by investors. The coins are unpredictable so investors should have proper knowledge. Cryptocurrencies are highly volatile and risky. Investment should be made with proper technical analysis.