GORILLA Crypto Bounced Back From Strong Support: What’s Next

• A huge surge in the Gorilla trading volume has been recorded in the last 24 hours.
• The crypto price is up by 1900% from its all-time low, achieved 8 months ago.

$GORILLA is a meme token offering significant utility through its IDO Launchpad, DEX swap with advanced features, and a competitive NFT collection.

It prioritizes investor growth by reinvesting all fees into the $GORILLA ecosystem. Key benefits include zero upfront fees, robust security, instant token availability, and comprehensive launch management.

When writing, the Gorilla crypto traded volume advanced by 740% in the last 24 hours, resulting in a traded value of $3.47M. That resulted in a huge liquidity in the crypto price followed by a volume/market cap ratio of 99.36%.

Huge liquidity in crypto makes it easier for investors and traders to buy or sell it at any market condition. Moreover, the market cap value of the crypto is $3.44M, and its market cap ranking is #1380, according to CoinMarketCap.

The GORILLA crypto price is down by 82% from its all-time high price of $0.02414. Moreover, the all-time high was achieved seven months ago, on November 30, 2023.

The sentiment of the crypto is bearish, while the fear and greed index of the crypto is neutral, followed by a minimal presence in the global crypto market. The price volatility of the crypto further is very high, resulting in 18.07%.

The circulating supply of the crypto is 846.158M GORILLA, followed by a total supply of 898.93M GORILLA. Also, the fully diluted market cap of the crypto is $3.647M. 

Gorilla Crypto Holding Pattern Analytics

Gate.io has 32.8% of the overall crypto supply, and 13.4% is circulating on the MEXC Global exchange.

The top 10% of crypto holders have 52.39% of the crypto supply. Additionally, the total number of crypto holders is 4.52K, which has slightly declined since June 2024. 

Additionally, 133.82M GORILLA is held by MEXC global, and the second largest holder of the crypto has 10.16% of the supply, resulting in 101.564M GORILLA.

In the last 30 days, MEXC Global has added 1.99M GORILLA while Gate.io has exited from 21.04M GORILLA.

GORILLA Crypto Technical Analysis

A strong decline to lower levels in the crypto price has led to the forming of a descending triangle pattern and a consolidation zone. A strong character change to a bullish level on the higher side follows this. 

The GORILLA crypto price has advanced by 25% in the last six days. The crypto price is also trading at a very strong support level, which has been recorded for the last six months.

If the crypto price further breaks above the triangle pattern, it might lead to the next resistance of $0.0070. If buyers further manage to push the price to higher levels, a breakout above this level will result in a change of character to bullish.

Once the character of the price changes, a new uptrend might be witnessed, which might be sustained for a longer period. 

GORILLA/USD Chart by TradingView

While the 20-day and the 50-day EMAs are trading in a bearish cross, the crypto price has broken above both the EMAs. If the price is sustained above the EMAs, we might see a golden crossover on the chart of GORILLA Crypto.

The MACD and the signal line trade in a death cross while the metrics form a golden cross. The histograms also support the bullish momentum. This makes the price neutral in trend.

The RSI has advanced above the 50-level and has sustained above the same, followed by a breakout above the 14-day SMA. This shows a rise in the bullish momentum of the crypto followed by the most recent surge in price.

How the Gorilla Token Price May perform?

Gorilla token ($GORILLA) has seen a recent surge in trading volume and price, though it remains down 82% from its all-time high. 

Despite signs of bullish momentum, including a possible breakout and a golden crossover, the overall sentiment is uncertain, with bearish indicators and high price volatility.

The support levels for Gorilla Crypto are $0.0020 and $0.00320, followed by the resistance levels of $0.00750 and $0.0110.

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.