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Gnosis Price Prediction 2021 – Will GNO Hit $350 Soon?

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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. 

GNO/USDT Ascending Channel Trend Pattern (Source: TradingView)

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). 

1638343568 223 Gnosis Price Prediction 2021 Will GNO Hit 350 Soon
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 – $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.

1638343569 77 Gnosis Price Prediction 2021 Will GNO Hit 350 Soon
GNO/USDT ADX (Source: Trading View)

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.

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Citizens of Georgia Made to Take An Holy Oath Not to Mine Crypto

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Citizens of Georgia Made to Take An Holy Oath Not to Mine Crypto
  • Free energy is available in certain regions of Georgia’s Svaneti mountains.
  • This year’s consumption was 237% more than in previous years.

For the sake of averting electricity shortages in Georgia, residents of Svaneti have been ordered to swear a holy oath not to mine crypto. Macrotrends show that from 2000 to 2019, tourist expenditure in Georgia’s northwest Svaneti area grew every year. The Covid-19 epidemic, on the other hand, sank tourism in 2020 and has only lately started to recover.

Hundreds of locals turned to crypto mining as a last resort, which has been blamed for causing major power outages. The local media outlet Sputnik Georgia cites a video showing miners cramming into a church on December 30, 2021, to swear an oath to St. George that they would not mine crypto in the future. Such promises have traditionally been regarded as unbreakable.

Such Consumption Termed “Unsustainable”

An electric firm that supplies power to crypto miners in the Svaneti town of Mestia has threatened to raise energy bills in response to complaints by local people. Free energy is available in certain regions of Georgia’s Svaneti mountains, making mining more appealing. Residents in nations where electricity is cheap to have complained about the influx of bitcoin miners. Kosovo and Kazakhstan have enacted bans on cryptocurrency mining.

A declaration by the Mestia municipality towards the end of 2021 said that crypto mining had a significant impact on Mestia’s electricity supply. This year’s consumption was 237% more than in previous years.

“Unsustainable” was Energo Pro’s word for the massive growth in consumption. When contacted by local journalists on January 5, the energy company revealed that the area was using 27 megawatts of electricity, about four times as much as the infrastructure could manage.

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DIA is the First Oracle to Integrate with Astar Network

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DIA

DIA is the first oracle provider to integrate its oracle infrastructure with the Astar Network, running on the Polkadot Relaychain. The oracle deployment will facilitate DeFi applications on Astar to easily connect to the outside world data.

The open-source data provider DIA announced today the integration of its decentralized oracle infrastructure with the Astar Network, running on the Polkadot Relaychain. This oracle deployment will facilitate DeFi applications on Astar to easily connect to the outside world data via DIA’s trusted oracles.

Astar Network, previously known as Plasm, is a dApp hub on Polkadot that supports Ethereum, WebAssembly, and layer 2 solutions like ZK Rollups. Astar Network won the 3rd Polkadot parachain auction on December 2, 2021, and onboarded to the Polkadot Relay Chain on December 18, 2021.

As the Polkadot Relay Chain doesn’t support smart contracts, Astar is working to provide a solution for all developers by parachain where EVM and WebAssembly smart contracts can co-exist and communicate with each other.

Thanks to Astar’s Ethereum and WebAssembly compatibility, DeFi applications can seamlessly be deployed on Astar’s parachain, where DIA will be able to feed them with accurate and transparent market data. DIA’s price feed oracles will fuel a range of use cases, such as lending and borrowing protocols, stablecoins, staking rewards and many more.

To build the data feeds, DIA simultaneously aggregates price data at a very trade level directly from centralized and decentralized exchanges. This decentralized approach to data sourcing enables DIA to provide accurate price feeds on-chain and reduce exposure to data manipulation.

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Bitcoin ATMs Shut Down In Singapore After MAS Curbs Crypto Advertising

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Financial service regulator – Monetary Authority of Singapore has issued fresh guidelines to limit crypto trading by the public. It has also taken a firm stance and asked cryptocurrency companies to eschew advertising or showcasing their products to the general public. MAS substantiated their decision by stating reasons which were purely risk-oriented.

The guideline stated and clarified that Digital Payment Token service providers “should not portray the trading of DPTs cryptocurrencies in a manner that trivializes the high risks of trading in DPTs, and should not promote their DPT services in public areas in Singapore or through any other media directed at the general public in Singapore”. 

“Highly Risky And Not Suitable For The General Public”

The Central Bank affirmed that such services are “highly risky and not suitable for the general public”. It implied that the broadcasting of cryptocurrency through traditional media such as newspapers and magazines must also cease to exist. 

On Tuesday, MAS declared that it would be outlawing crypto-to-cash terminals, thus, sealing all crypto ATMs in Singapore. Daenerys & Co,  which is one of the biggest crypto ATM operators with five crypto ATMs spread across the city had acted in accordance with the guidelines. Another rival ATM operator, Deodi also complied with the Central Bank’s order and ceased its only ATM. 

Related Reading | Intel To Present Low Voltage, Energy Efficient Bitcoin Mining Chip At Conference

This recent regulatory clamp from the MAS cropped up amidst the growing popularity of the blockchain industry with new investors joining the ecosystem each day. Although MAS quoted that “MAS strongly encourages the development of blockchain technology and innovative application of crypto tokens in value-adding use cases.”; the cryptocurrency market in Singapore continues to reel under a significant number of regulatory milestones.

Recently, Coincub, a fintech start-up in one of their rankings, called Singapore the world’s most friendly cryptocurrency economy. Singapore in the past had been quite liberal in terms of cryptocurrency adoption with an undemanding and positive legislative environment. Currently, the reality looks quite different, so to say.

Bitcoin's growth is concerning regulators | Source: BTCUSD on TradingView.com

MAS Believes Bitcoin ATMs Let People Trade “On Impulse”

MAS believes that ATMs facilitated a seamless and convenient transaction of cryptocurrencies such as Bitcoin and Ethereum. This could cause people to trade “on impulse”. This notion caused regulators to mandate the clampdown of ATMs all across the city.

In regards to crypto regulations, Singapore isn’t the only name on the list. In December 2021, Britain outlawed advertisements from seven such crypto firms as they were  “irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk of the investment”.

Spain had also led a crackdown on cryptocurrency promotions recently. Singapore’s regulatory escalation comes after Bitcoin’s prices nosedived almost 40% after BTC soared to new heights in November 2021. 

Related Reading | Green Energy: In NY, Bitcoin Mining Saved The Oldest Working Hydroelectric Plant

Cryptocurrency is not only a volatile asset but has also enabled a wide spectrum of fraud associated with digital assets. In recent times, cryptocurrency has facilitated money laundering and terrorism funding among other illegal activities.

“Digital payment token service providers in Singapore have to comply with requirements to mitigate such risks, including the need to carry out proper customer due diligence, conduct regular account reviews, and monitor and report suspicious transactions,” stated MAS spokesperson.

Featured image from iStockPhoto, Charts from TradingView.com
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