Gnosis Price Prediction: GNO Jumps 2% – Can It Sustain the Pace?

Updated: 24 August 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Gnosis has seen a slight 2% price gain in the last 24 hours.

Gnosis has gained from $98 to $101 in the last day. If the bullish momentum holds, the token could rally past $106 soon.

Gnosis has not been spared from the uncertainty that has rocked the crypto industry this year, with a 37% annual price drop. In the last seven days, Gnosis has dropped by around 5%.

The token has lost all the gains made with the hype around the Shapella upgrade, with an 11% decline in just one month.

Gnosis Bounces 2% After Steady Decline

Buyers appear to be accumulating tokens at the current low prices.

Like the majority of the cryptocurrency market, GNO witnessed a sharp drop on August 18 as altcoins reacted to Bitcoin’s double-digit drop.

GNO dropped to below $100 on August 18 and has struggled to hold above $100 since then.

The $98 and $99 levels appear to be entry prices for buyers as the price has bounced each time these levels have been attained.

This movement shows that $98 is a crucial support level.

GNO is currently trading at three-month lows. A downtrend will likely appear if the price exceeds $98, pushing GNO lower to $95.

GNO was last trading at $95 on March 11, 2023.

Besides the price drop, the market capitalization has also been affected.

The market cap sits at a 5-month low of around $261 million, a notable drop from the April levels of about $318 million.

Gnosis Shows Signs of Reversal As Buyers Jump In

GNO might make a bold uptrend because of the current strong buyer sentiment.

The Relative Strength Index (RSI) of 33 shows that the token’s recent decline was due to intense selling pressure.

However, sellers are leaving the market, and buyers are scooping tokens, likely at low levels below $100.

The primary support level is at $100, and it is a main entry point for most buyers.

The 50-day simple moving average (SMA) at $112 marks the first resistance, while the 100-day SMA of $113 marks another primary resistance level.

Gnosis Chain Posts Major Achievements

Despite the weak price movement, Gnosis Chain has posted some significant achievements.

OriginTrail announced the integration of Gnosis once the bridged TRAC utility is achieved.

[ANNOUNCEMENT] @origin_trail x @gnosischain integration will begin after the bridged $TRAC utility token threshold is achieved!

As pioneers of #AI solutions for prediction markets, Gnosis greatly enriches the #Multichain Trusted Knowledge Foundation 🚀https://t.co/KhuSsd516U pic.twitter.com/gDV8qPTlr8

— OriginTrail (@origin_trail) August 22, 2023

The technologies will be readily available to users in the ecosystem and deliver AI solutions to predictive markets.

Another recent partnership for Gnosis was with Valory. The two are hosting an AI agent hackathon revolving around prediction markets.

.@valoryag and Gnosis Chain are hosting an on-going AI agent hackathon around prediction markets.

Create an economy of AI agents who make predictions about the future and earn prizes in the process!

More info below👇 https://t.co/2QnBaPE6tg

— Gnosis Chain 🦉 (@gnosischain) August 22, 2023

The offering will create an ecosystem of AI agents that make predictions.

yPredict Presale Surpasses $3.5 Million

The yPredict presale is performing exceptionally well, with more than $3.5 million being raised. The presale price is set at $0.1 for each YPRED token.

The price will increase to $0.11 in the next presale stage after $4.5 million is raised. The listing price is set at $0.12.

yPredict has brought artificial intelligence (AI) into the Web3 ecosystem by making it easy for developers, traders, and analysts to integrate AI into their offerings.

The project offers real-time trading signals from cutting-edge predictive models.

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