Gnosis Price Prediction 2021 – Will GNO Hit $350 Soon?
- Bullish GNO price prediction ranges from $340 to $349.6.
- The GNO price might also reach $350.
- GNO bearish market price prediction for 2021 is $261.8.
In GNO price prediction 2021, we use statistics, price patterns, ADX, and much other information about GNO to analyze the future movement of the cryptocurrency.
Gnosis (GNO) is an open-source, decentralized prediction market built using the Ethereum blockchain. Gnosis is aimed at disrupting the largest existing industries by creating a genuinely decentralized market prediction platform. GNO is the primary utility token of the Gnosis platform and can be traded on cryptocurrency exchanges.
Current Market Status of Gnosis (GNO)
According to Coingecko, the price of GNO is $339.94 with a 24-hour trading volume of $3,559,211 at the time of writing. However, GNO has increased by 2.90% in the last 24 hours.
Moreover, GNO has a circulating supply of 1,504,587 GNO coins. Currently, GNO trades in cryptocurrency exchanges such as HitBTC, BKEX, Kraken, Uniswap (V3), and Bitfinex.
Gnosis (GNO) Price Prediction 2021
Gnosis (GNO) holds the 161st position on CoinGecko right now. GNO price prediction 2021 is explained below with a 2-hour time frame.
The price action contained between two parallel upward sloping lines defined as an ascending channel. Higher highs and lower lows distinguish this price pattern. An ascending channel formed by connecting the swing lows with a lower trend line and the swing highs with an upper channel line.
A breakout above an ascending channel may indicate that the upward trend will continue, whereas a breakdown below an ascending channel may indicate that the trend will change.
In the above chart, the GNO can reach $340 if the bull trend continues. Or else, if the price of the GNO breaks the resistance level of $349.6, it will fall to the next support level at $319.9. So, the trend of the GNO is based on the breakout.
Gnosis (GNO) Support and Resistance Level
The below chart shows the support and resistance level of Gnosis (GNO).
The above chart shows that the following are the resistance and support levels of GNO.
- Resistance Level – $341.9
- Support Level 1 – $314.2
- Support Level 2 – $289.3
- Support Level 3 – $261.8
The chart shows the bullish performance of GNO over the previous month. However, this trend might continue to reach a resistance level at $341.9 soon. On the contrary, if the trend is reversed then GNO might fall to $261.8 presenting a bearish signal.
Gnosis (GNO) Average Directional Index (ADX)
Let us now look at GNO’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).
Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it frequently combined with directional indicators.
The above chart represents the ADX of GNO, which is in the range of 37.35 indicating a strong trend.
Conclusion
The GNO is one of the cryptos which is great for long-term investment. In addition, GNO price prediction is bullish for the long term. It has a good chance of reaching its all-time high of $441.99. However, this will only happen if many previous psychological barriers are broken.
Furthermore, with the advancements and upgrades on the GNO ecosystem, the performance of GNO would rise reaching $340 very soon. But, it might also reach $350 if the investors believe that GNO is a good investment in 2021.
Disclaimer: The opinion expressed in this chart is solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their research before investing.
Recommended for You
- Gnosis (GNO) Technical Analysis 2021 for Crypto Traders
- Cardano Price Prediction 2021 – Will ADA Hit $5 Soon?
- Ethereum Price Prediction 2021 – Will ETH Hit $2,855 Soon?
- NEAR Protocol Price Prediction 2021 – Will NEAR Hit $6.5 Soon?
- Keep Network Price Prediction 2021 – Will KEEP Hit $0.7 Soon?
The post has appeared first on thenewscrypto.com
Read more: https://thenewscrypto.com/gnosis-gno-price-prediction
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
