- According to analysts, Gnosis crypto sentiment is bullish.
- The GNO crypto price volatility is high, resulting in 6.63%.
Gnosis (GNO), founded in 2015 by Martin Koppelmann and Stefan George, develops decentralized infrastructure for the Ethereum ecosystem.
It includes products like Gnosis Safe, Cow Protocol, and Zodiac. Gnosis Chain addresses scaling issues, and its mission emphasizes experimentation and technical innovation for Ethereum’s decentralized ecosystem.
![GNO](https://themarketperiodical.com/wp-content/uploads/2024/06/image-203.png)
Price Overview Chart of GNO | Source: CoinMarketCap
The liquidity in Gnosis crypto is certainly low, followed by a volume/market cap ratio of 1.45%. Moreover, the market cap of the crypto has witnessed a slight advance of 1.18% over the last 24 hours.
The market cap ranking of the Gnosis crypto is #87 as per CoinMarketCap, and the crypto price has advanced by 211% in the last 1 year. It also has outperformed 70% of the top 100% cryptocurrencies in the previous 1 year.
Gnosis has 86.32% of its maximum supply circulating in the market, followed by a maximum supply of 3.0M GNO. This further results in a fully diluted market cap of $969.952M.
The price of Gnosis crypto has advanced by 4400% in the last four years, but its last traded price at press time is still down by 70% from the all-time high price of $1,088.
The Total Value Locked for the Gnosis crypto is $305.28M, which has surged over the last few days. Additionally, the stablecoins market cap of the crypto is $114.79M, followed by a treasury value of $233.55M.
Gnosis Crypto Derivatives Data Analysis
A decline in the derivatives trading activity is recorded over the last 24 hours from press time as the crypto traded volume has declined by 37%, resulting in a traded value of $628.56K.
![GNO](https://themarketperiodical.com/wp-content/uploads/2024/06/image-204-1024x204.png)
Gnosis Crypto Derivatives Volume Chart | Source: Coinglass
Gnosis’s derivatives trading volume has declined over the last few days, which shows a decline in traders’ interest in crypto derivatives.
The crypto’s liquidation activity has also significantly declined, resulting in a long liquidation of just $30.5 in the last 24 hours, while the short liquidation of the crypto is nil.
GNO Crypto Technical Analysis
Major and smaller structures of the GNO crypto have formed a flag and pole pattern together.
![GNO](https://themarketperiodical.com/wp-content/uploads/2024/06/image-205-1024x456.png)
GNO Crypto Daily Price Chart | Source: TradingView
From the swing low of $177.40, the price of the GNO crypto advanced by 150% in just two months. The crypto price started to witness profit booking and is down by 42% from the swing high at press time.
The following behavior of the crypto price has formed a flag and pole pattern, and the crypto price is also trading above 50% of the overall price surge. This further shows that the crypto trend is bullish, and bulls can dominate at any time soon.
Thus, if the crypto price further breaks above the flag and pole pattern and closes above the same, a surge in the crypto trading price might be seen.
GNO/USD Chart by TradingView.com
The price of the GNO crypto is trading in a golden cross of the 50-day and the 200-day EMA. Despite this, the crypto price is trading between the band of the EMAs, followed by an existing uptrend in the price.
The MACD indicator further opposes the uptrend in crypto as its metrics are trading in a bearish cross and approaching a negative trajectory.
The RSI has also declined below the 14-day SMA and 50-level. It is trading at a level of 46 at press time, which indicates a slight weakness in the momentum of the price.
Summary
Gnosis (GNO) shows mixed signals with a bullish flag and pole pattern suggesting a potential upside, yet indicators like the MACD and RSI reflect bearish momentum.
Despite a significant rise from its lows, declining derivatives activity and low liquidity add uncertainty to its short-term price outlook.
The support levels for the GNO crypto price are $262.0 and $300.0, followed by the resistance levels of $410.0 and $447.0.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.