Will GNO reach $200 Soon?

• Bullish GNO price prediction ranges from $78 to $200.
• Analysis suggests that the GNO price might reach above $197.
• The GNO bearish market price prediction for 2023 is $77.9.

What is Gnosis (GNO)?

GnosisDAO builds decentralized infrastructure for the Ethereum ecosystem. Propelled by a mission centered on experimentation and building decentralized infrastructure for the Ethereum ecosystem, Gnosis was founded in 2015. It focused on building prediction markets to enable worldwide access to accurate information. While creating the prediction market platform, it became clear that Gnosis needed to build the infrastructure required to support it. 

Gnosis Safe (multi-sig and programmable account), Cow Protocol (formerly CowSwap and Gnosis Protocol), Conditional Tokens (prediction markets), Gnosis Auction, and Zodiac (standard and tooling for composable DAOs) are all products incubated by Gnosis. 

Their success is demonstrated by the recent spin-out of Cow Protocol and the formation of SafeDAO. By combining needs-driven development with deep technical expertise, Gnosis has built the decentralized infrastructure for the Ethereum ecosystem. 

Gnosis (GNO) Market Overview

Analysts’ View on Gnosis (GNO)

Smart Liquidity tweeted that the Gnosis chain was among the top protocols with the highest daily active users. 

Gnosis (GNO) Current Market Status

GNO has a circulating supply of 2,589,588 GNO coins, while its maximum supply is 3,000,000 GNO coins, according to CoinMarketCap. At the time of writing, GNO is trading at  $116.66 representing 24 hours decrease of 1.72%. The trading volume of GNO in the past 24 hours is  $3,203,660 which represents a 3.44% decrease.

Some top cryptocurrency exchanges for trading GNO are Binance, BTCEX, Bitrue, Bitget, and BingX

Now that you know GNO and its current market status, we shall discuss the price analysis of  GNO for 2023.

Gnosis (GNO) Price Analysis 2023

Currently, Gnosis (GNO) ranks 103 on CoinMarketCap. Will GNO’s most recent improvements, additions, and modifications help its price go up? First, let’s focus on the charts in this article’s GNO price forecast.

Gnosis (GNO) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). 

The upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average. When the bands widen, it shows there’s going to be more volatility and when they contract, there is less volatility.

When Bollinger bands are used in a cryptocurrency chart, we could expect the price of the cryptocurrency to reside within the upper and lower bounds of the Bollinger bands 95% of the time. The above thesis is derived from an Empirical law. 

The sections highlighted by red rectangles in the chart above show how the bands expand and contract. When the bands widen, we could expect more volatility, and when the bands contract, it denotes less volatility. The green rectangles show how GNO retraced after touching the lower band (oversold) and upper band (overbought).

When considering the chart above, we could see that the Simple Moving Average (SMA) played a vital part in GNO’s price fluctuations. The blue rectangles show how the SMA acted like a support while the Orange rectangle shows how it has been a formidable resistance. Currently, as GNO is fluctuating in the upper half of the Bollinger bands, we could expect it to find support at the SMA. 

Since the SMA has played a vital role in GNO’s price fluctuations, traders may want to use this as the point of entry and exit as per their positions. For instance, buyers who missed out to enter the market at the lower band when the trend is up could enter the market at the SMA and exit at the top band. 

Moreover, when considering the Bollinger bands, we could see that they are on the verge of parting ways. This could be the beginning of increased volatility in the market. If the bands widen, then, we may see a GNO hugging the upper Bollinger band for quite sometime before the market corrects the price. 

Meanwhile, the Bollinger bandwidth indicator shows a value of 0.07 and the line is tilting upwards. As such we could expect more volatility in the coming days. The nearest point where the bandwidth indicator could change direction is 0.11, based on the observation. Interestingly, this is the first time that the Bollinger bands have come so close.  

Gnosis (GNO) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to find out whether the price of a security is overvalued or undervalued. As per its name, RSI indicators help determine how the security is doing at present, relative to its previous price. 

Moreover, it has a signal line which is a Simple Moving Average (SMA) that acts as a yardstick or reference to the RSI line. Hence, whenever the RSI line is above the SMA, it is considered bullish; if it’s below the SMA, it is bearish.

Currently, the RSI is above the Signal, hence, GNO is bullish. GNO’s RSI is currently at 54.50. Since it’s neither overbought nor oversold, we could say that the trend is strong. However, as the RSI is positioned facing the signal, we may see the RSI fall below the signal which will be a bearish signal.  

The Stochastic RSI measures the strength or the weakness of the RSI indicator. As such, it compares the current RSI with the range of past RSI values for a specific period. The StochRSI comes in handy when the market is moving sideways. Since it is sensitive to the smallest RSI movements, it could be used to find out whether the RSI is overbought or oversold when there are sideways movements. 

Currently, the StochRSI reads 46.95, and it is titled at an angle towards the overbought region. As such, we may see the StochRSI rise and reach the overbought reach. However, since StochRSI also is not overbought or oversold, we may see GNO consolidate in the future.  

Meanwhile, as per the RSI Support and Resistance by the DGT indicator, GNO is fluctuating between Bull Zone (green) and Crossunder overbought region (Yellow). In the event that the RSI crosses below the signal while the token keeps increasing then, the maximum that the token could reach is the crossunder overbought region. 

However, if the RSI holds above the Signal line, then we could expect GNO to break the Crossunder overbought line on the RSI Support and Resistance indicator and rise to the Crossover Overbought region.  

Gnosis (GNO) Price Analysis – Moving Average

The Exponential Moving averages are quite similar to the simple moving averages (SMA). However, the SMA equally distributes down all values whereas the Exponential Moving Average gives more weightage to the current prices. Since SMA undermines the weightage of the present price, the EMA is used in price movements. 

The 200-day MA is considered to be the long-term moving average while the 50-day MA is considered the short-term moving average in trading. Based on how these two lines behave, the strength of the cryptocurrency or the trend can be determined on average. 

In particular, when the short-term moving average (50-day MA) approaches the long-term moving average (200-day MA) from below and crosses it, we call it a Golden Cross.

Contrastingly, when the short-term moving average crosses the long-term moving average from above then, a death cross occurs. 

Usually, when a Golden Cross occurs, the prices of the cryptocurrency will shoot up drastically, but when there’s a Death Cross, the prices will crash. 

When considering the chart above we could see that GNO was struggling under both moving averages during the latter stages of 2022. However, the dawn of 2023 brought about some momentum for GNO. 

As such, GNO which was trading under both moving averages was able to test the 200-day MA which was above the 50-day. However, shortly after testing the 200-day MA, GNO fell and reached for support at the 50-day MA but was denied. 

Since support was denied at the 50-day MA GNO crashed to $94.9 which supported GNO. Fortunately for GNO, there was a golden cross that helped it break both the 50-day MA and 200-day MA above it. 

Currently, it is trading above both moving averages. However, it has been heavily dependent on the 50-day MA for support except for the one instance where it reached the 200-day MA’s support. Based on the latest behavior of GNO, we may sideways movement with GNO reaching for support from the 50-day. However, if the 50-day MA fails to hold up the crashing prices, we may see GNO resorting to help from the 200-day MA. 

Since the 50-day MA has been good perch for GNO, those going long may place their entry point close to the 50-day MA. 

Gnosis (GNO) Price Analysis – Elder Force Index

Elder Force Index is an indicator that was invented by Alexander Elder, who was an entrepreneur. The indicator mainly uses two parameters to adjudicate the buying and selling force and thereby predicts the market trend. In particular, it relies on price change and volume. As such the strength of the buying force or selling force is dependent on either the price change or the volume. 

Whenever the EFI is greater than zero, or positive, we could say that the trend is bullish, as there is more buying pressure. However, when the EFI is in the negative zone, we could say that the cryptocurrency is in the negative zone and the selling pressure is more.

Moreover, the Elder Force could also be used to figure out trend reversals and breakouts. For instance when the EFI is making lower highs while the cryptocurrency is making higher highs, then we could say that this is a bearish divergence. However, in the event that the cryptocurrency is making lower lows while the EFI is making higher lows, then it is a bullish divergence represented in the chart. 

Currently, the EFI is reading a value of 829 and the line seems to be heading down toward the next spot at 608 where the EFI could change direction. We could expect the EFI to reduce before it actually starts to increase. 

Moreover, the above chart supplements the thesis of EFI reducing, as the Bull-Bear Power indicator which reads 1.5 is heading toward the zero line. However, there are a few spots where the BBP turns around and started increasing before reaching the zero line. In particular, the 1.5 reading is also a spot where the BBP power turned around and started increasing. Additionally, the 0.2 region is also another spot where the EFI turned around. 

Meanwhile, we could see that the buying volume is reducing and soon we might see the market being flooded with sellers. However, once the GNO token reaches equilibrium and buyers decide it’s time to cash in on GNO, we may see the price increase.  

Gnosis (GNO) Price Prediction 2023-2030 Overview

Gnosis (GNO) Price Prediction 2023

When considering the chart above we could see that GNO has been trading inside an ascending triangle. The specialty of the ascending triangle is that it made higher lows but not higher highs. This reflects how the sellers controlled the price without allowing it to float higher and higher. 

We could expect GNO to spike as it breaks out of the ascending triangle. As per the best practice of trading the wedge, those going long may want to have their take profit, at the width of the wedge in its initial stages. As such, if GNO spikes as per the book when it is out of the wedge, then GNO could reach above Resistance 2 at $155.

Buyers may want to have their take profit in between Resistance 2 and 3, while their stop loss should technically be at the bottom trendline of the triangle. However, based on GNO’s past behavior, we could see that it rose to Resistance 4 in June-July 2022 from the same price it is at present. 

In the event that GNO is to reciprocate its behavior in June-July 2022, then we may see it rise to Resistance 4 at $197.3. However, we may see some friction and consolidation at Resistance 2 at $155 and Resistance 3 at $170. Although it may be tempting to have the take profit at Resistance 4, buyers need to do their due diligence before setting it high up there. 

Meanwhile, if GNO is supposed to lose value we may see it tank to Support 2 at $88. However, before it crashes there is also a possibility of GNO reaching Resistance 1 and then crashing. As such, traders taking a long position may need to be vigilant about this behavior of GNO.   

Gnosis (GNO) Price Prediction – Resistance and Support Levels 

When considering the chart above we could see how GNO rose above the 1:1 Gann line, from August 2021 to February 2022, as shown by the darkened strip. GNO even tested the 2:1 Gann line and broke it. However, shortly after being high there, GNO started to descend. 

GNO descended along the 2:1 Gann line before it crashed below it in early 2022. However, it found support at the 3:1 Gann line and started its inclined climb as shown in the figure. Having received support at the 3:1 Gann line it rose above the 2:1 Gann line. But, this climb was short-lived as GNO crashed once gain to 3:1 Gann line seeking support. After finding no support at the 3:1 Gann line, GNO started to move horizontally. 

When considering GNO’s price fluctuation in 2023, we could see that there was a burst of exponential growth for GNO. However, after that flurry of increase, there seems to be a calm period for GNO. In particular, the 8:1 Gann line has been acting as support for GNO while the token tested the 4:1 Gann line. GNO was once able to break above the 4:1 Gann line and test the 3:1 Gann line. 

Nonetheless, GNO is currently fluctuating between the 8:1 and 4:1 Gann lines. In the event that GNO tumbles and crashes, we could expect the 8:1 Gann line to assist. 

Gnosis (GNO) Price Prediction 2024

There will be Bitcoin halving in 2024, and hence we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. However, the year of BTC halving didn’t yield the maximum GNO based on the previous halving. Hence, we could expect GNO to trade at a price, not below $238.4 by the end of 2024.

Gnosis (GNO) Price Prediction 2025

GNO may experience the after-effects of the Bitcoin halving and is expected to trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, GNO will continue to rise in 2025 forming new resistance levels. It is expected that GNO would trade beyond the $480.5 level.

Gnosis (GNO) Price Prediction 2026

It is expected that after a long period of bull run, the bears would come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, GNO could tumble into its support regions. During this period of price correction, GNO could lose momentum and be way below its 2025 price. As such it could be trading at $84.60 by 2026. 

Gnosis (GNO) Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Bitcoin halving in 2028 could evoke excitement in traders. However, that excitement has not been amplified in GNO to that extent. As such, we could expect GNO to trade just above its 2026 value at around $149.90 by the end of 2027. 

Gnosis (GNO) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Bitcoin halving like many altcoins, GNO may reciprocate its past behavior during the BTC halving. Hence, GNO would be trading at $177.40 after experiencing a considerable surge by the end of 2028. 

Gnosis (GNO) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market would gradually become stable by this year. In tandem with the stable market sentiment, GNO could be trading at $365.70 by the end of 2029.

Gnosis (GNO) Price Prediction 2030

After witnessing a bullish run in the market, GNO and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, GNO could be trading at $249.9

Gnosis (GNO) Price Prediction 2040

The long-term forecast for GNO indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. 

If they start selling then GNO could fall in value. It is expected that the average price of GNO could reach $201.35 by 2040.

Gnosis (GNO) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, GNO could hit $151.51

Conclusion

If investors continue showing their interest in GNO and add these tokens to their portfolio, it could continue to rise. GNO’s bullish price prediction shows that it could reach the $200 level. 

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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