Gnosis is one of the first Ethereum side chains which is continuously building decentralized infrastructure for Ethereum. Gnosis operates as a DAO which provides infrastructure for various dapps. The CEO of the project is Martin and the CTO of it is Stefan.Gnosis chain is secured by over 120k validators. The community governance and diverse validators ensure that the chain remains credibly neutral. The dapps powered by Gnosis chain has been observing a growth consistently.
Gnosis has a TVL of $73 Million which has been seeing a consolidated trend in price. The total active accounts on the GNO is around 62,946. The total transactions on the Gnosis has been observing a consolidated momentum. The total transaction fees paid on the GNOSIS has observed a decline in the past few days. Meanwhile, the average gas fees of the GNO has been seeing a surge. The adoption of the GNO can observe a strong momentum in the future.
Gnosis has a market cap of $282 Million which is ranked 95th in the CMC. The volume of the GNO has seen a decline of 8% in the intraday session. The social dominance of the asset price can observe a strong growth in the future.
Will GNO Price Hit a New High In Future?
The weekly technical chart of Gnosis token price hints towards a strong consolidation in price. On the daily chart, it is seeing a weak downside trend in price. GNO token price is currently trading near the value of $110 with a small drop in the intraday session. The upside trend of GNO token can see a halt near the value of $120. Meanwhile, the support of the asset price can be observed near $104. GNO token price is trading below the 50 and 100 Daily Moving Average. If a positive crossover happens then it can push the asset price to a new high.
The RSI of GNO token is near 43 suggesting its presence in the neutral zone. There is a weak downside slope in it suggesting a bearish momentum in price.
Summary
Gnosis active users along with the TVL has been observing a consolidation in price. GNO token is currently in a consolidated trend but can see a new high in the future.
Technical Levels
Major Support:$100
Major Resistance:$120
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/06/14/gnosis-active-users-increase-constantly-will-gno-price-follow-the-same/