- The GNO coin price has shown a surge of over 29% in 2023.
- The GNO coin price has recently given a breakdown of the rising trendline.
- The current market price of GNO coin is $106.5.
Since the GNO coin was listed, the price showed a remarkable upside and gave amazing returns to the investors. During this uptrend, the price hit a high of $655 on 8 November 2021. After that, the price was unable to reach that level again as it faced rejection multiple times. After March 2022, the GNO coin witnessed a major fall in the price as the sellers aggressively shorted the price from the upper levels. This fall lasted till the end of 2022 and the coin price declined by over 83%. Before it started to rise, the coin price had consolidated for over two months at lower levels.
In 2023, the GNO coin price witnessed an astonishing upside in January 2023. This uptrend was sustained till July 2023 and the price consolidated at a higher level. The coin price has tried to cross the upper-level multiple times, but the sellers have strongly defended their zones. Furthermore, the coin price declined in July 2023 and this decline persisted till the beginning of October 2023.
A Quick Outlook of the GNO Coin Chart
The GNO coin price has recently given a breakdown from the rising trendline and the price has reacted sharply after that. The sellers have held the price below the breakdown level for enough time to mark their dominance. However, the recent crypto market rally has grabbed the attention of investors and the coin price has surged from the lower levels. Consequently, it has witnessed the sheer dominance by the bulls.
The GNO coin price has been supported by the bulls near the level of $91.4 and they have carried the price strongly to the higher levels. Now, the coin price is facing a small rejection near the previous swing high of $109.8. This means that there is some selling pressure at this level. Additionally, the resistance levels for the coin are present at $127 and $146.4.
What the EMA and RSI are Indicating About the Trend and its Strength?
The GNO coin price has reclaimed both the 50-day and 200-day exponential moving averages (EMAs) in this uptrend. However, the sellers are trying their hand to capture it back from the bulls. The relative strength index (RSI) is showing a divergence in the coin price and is currently curving at 59.32 with a downward slope. It can be concluded that the bulls are losing momentum.
Conclusion
The recent surge in the GNO coin price is looking promising for the bulls. If the crypto market continues the bullish trend, that would be reflected in the price of GNO coin. $127 and $146.4 will act as resistance, while $91.4 and $80.8 will continue to provide support to the price.
Technical level
- Resistance – $127 and $146.4
- Support – $91.4 and $80.8
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.