Gnosis Price Prediction 2021 – Will GNO Hit $300 Soon?

Gnosis Price Prediction 2021 - Will GNO Hit $300 Soon?

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 $196.46 with a 24-hour trading volume of $4,923,547 at the time of writing. However, GNO drops 2.90% in the last 24 hours.

Moreover, GNO has a circulating supply of 1,504,587.00 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 175th position on CoinGecko right now. GNO price prediction 2021 is explained below with a 4-hour time frame. 

GNO/USDT Triangle Pattern (Source: TradingView)

The above chart shows the triangle pattern. A triangle pattern is a consolidation pattern that occurs mid-trend and usually signals a continuation of the existing trend. The triangle chart pattern is formed by drawing two converging trendlines as price temporarily moves in a sideways direction. Triangle provides an effective measuring technique for trading the breakout. 

In the daily time frame chart, the GNO can reach $291.00 if the bull trend continues. Or else, if the price of the GNO breaks the resistance level of $242.85, it will fall to the next support level at $187.12. 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). 

GNO/USDT Support and Resistance Level (Source: TradingView)

The above chart shows that the following are the resistance and support levels of GNO.

  • Resistance Level 1 – $242.85
  • Resistance Level 2 – $291.00
  • Support Level 1 – $187.12
  • Support Level 2 – $130.78

The chart shows the bullish performance of GNO over the previous month. However, this trend might continue to reach a resistance level at $291.00 soon. On the contrary, if the trend is reversed then GNO might fall to $130.78 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 be 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 is frequently combined with directional indicators.

GNO/USDT ADX (Source: Trading View)

The above chart represents the ADX of GNO, which is in the range of 43.93 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 $291.00 very soon. But, it might also reach $300 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.

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