- I believe the predictions market sector will perform well in 2018. I am also planning to build my holdings of REP.
- GNO has been under development since 2015 and has some major roadmap releases in 2018 (https://gnosis.pm/timeline)
- Strong team and fairly active developer community (https://www.coingecko.com/en/coins/gnosis)
- Price is down 85% since the peak in July 2016.
- Price is on an uptrend in 2018 (blue ). Up 250% (and down about 25% from 2018 high)
- Dotted black lines show local lines. Price could go either way.
- is currently moving sideways on the 50.
- is on an uptrend (rising red )
- Price and have recent lower highs and higher lows so price is likely to decide soon and move up or down!
- Price is below the kumo cloud so will need to test and break through to enable significant upside.
I will be looking to buy if it drops to the lower dotted support OR if price respects the current uptrend and shows increase to confirm bulls are in charge.
"Luck is what happens when preparation meets opportunity" Seneca The Younger.
Not investment advice.
Comments always welcome below.
GNO has dropped through my previously indicated buy zone. We saw a death cross and continued price reduction. There is currently no strong signs on the lower timeframe charts of a correction. Price may fall back to the new lower buy zone indicated in the chart below. The bottom of this zone was previous support/resistance back in December. I will place buys at this level to scoop up what will hopefully be bargains.
Still strong on this coin long term. Should see significant improvement when we come out of alt winter!
- Price has today dropped through the 50 EMA having previously dropped back below the 100 and 200 EMA's. These are typically strong supports. If the daily close ends below the 50 EMA then this is a bearish sign.
- Recent volume has been in much higher volumes for buys than sells. The current sell volumes feel like exhaustion on the side of the bears.
- RSI has fallen below the 50 RSI. The last time it did this on the daily it stayed in a bear market for 3 months, the time before that it was in a bear market for 2 months.
- New key S&R levels have been drawn in black. Around the 0.00902101 level in dark black will probably be the next level to be tested. Their was significant volume at this level as shown by the VPVR indicator. If it fails to find buyers then it could drop to the next level at 0.00768265 - this was both the recent low at end of March and a key support back in November.
- I think GNO is in a no-buy zone currently. Will wait to see what the market decides. I will place buy orders at the 0.00768265 level hoping price finds this low before recovering. The risk-reward ratio should be good (approx 4:1) if stop losses are placed at the all time low of 0.00559832. Expect price to recover to the January high of 0.02894011.