Gnosis is under pressure as GNO/USDT is clipped below $200. Meanwhile, SushiSwap might just find momentum, forcing SUSHI/USDT towards $13. Gnosis (GNO) The Gnosis platform harnesses the power of the crowd and is a decentralized prediction market on Ethereum. GNO is its native token. Past Performance of GNO GNO is trading within a bearish breakout pattern inside a descending wedge below $200 as sellers dominate. Though there are signs of GNO strength, buyers weren’t able to reverse losses, as visible from price charts. Presently, GNO is up eight percent on the last trading day and is inside the May 24 bull bar. Day-Ahead and What to Expect Technical candlestick arrangements favor sellers, as price action in the daily chart reveals. Provided GNO trend below $200, the odds of a break below in a bear trend continuation remains highly likely. Notably, from the daily chart, GNO/USDT prices are printing lower as the 20-day moving average line inclines negatively, pointing to sellers. GNO/USDT Technical Analysis Even in the face of sellers, GNO/USDT bulls have a chance as prices move inside the May 24 bar. For now, every high below $200 is a liquidating opportunity, with targets at $110. This will be nullified once there is a sharp close above $180 for GNO, unwinding losses of last week and setting the pace for $200 and better in the days ahead. SushiSwap (SUSHI) SUSHI is the governance token of the SushiSwap distinguished by more product offerings. Past Performance of SUSHI Prices could inch higher if buyers build on June 21 gains. From the daily chart, SUSHI/USDT is bearish, losing over 70 percent from 2021 peaks. The same trend spills over to the current price action. SUSHI is down double-digits, losing 13 percent on the last day versus the USD. Day-Ahead and What to Expect Overly sellers are conspicuous though the trend could change if there is a confirmation of the double-bar bullish reversal pattern of June 19 and 20. In that case, SUSHI may grind higher, close above the middle BB above $10, lighting up demand. SUSHI/USDT Technical Analysis Aforementioned, the SUSHI downtrend has been arrested (at least for now) following the bull bar of June 20. Nonetheless, the uptrend is not defined and made worse by losses in the early Asian session of June 21. Still, aggressive SUSHI bulls may ramp the dips aiming at $13. On the other end, risk-averse traders can wait for a close above $10 and the middle BB before loading up with similar targets. Losses below $6.5 quash all bullish attempts.
The post SushiSwap (SUSHI) and Gnosis (GNO) Technical Analysis: What to Expect? appeared first on Cryptoknowmics-Crypto News and Media Platform.
from Live Crypto News – Cryptoknowmics-Crypto News and Media Platform
