$GNO Testing Support — Can Bulls Rebound Above $128 or Will Momentum Fade?
Current Price: $127.54 (+2.98%)
24H Range: $123.05 – $130.74
Market Overview
Gnosis (GNO) is trading slightly below the $128 mark after an intraday pullback from the $130 area. Despite the positive daily performance, price action shows hesitation as buyers struggle to reclaim key resistance. Volume remains moderate, suggesting traders are waiting for confirmation of direction. GNO is now hovering near a short-term support zone that could define its next move.
Key Levels to Watch
Resistance:
• $128 – Immediate resistance; a breakout above may trigger a push higher.
• $130 – Strong resistance; clearing this level could open upside toward $133 and $136.
Support:
• $127 – Short-term support; losing this could signal further weakness.
• $125 – Major support; breakdown here could extend losses toward $123.
Trade Setup – Neutral Bias Awaiting a Trigger
Bullish Scenario:
If GNO holds above $127 and breaks through $128 with strong volume, it may regain upward momentum.
Targets:
• TP1: $130
• TP2: $133
Stop Loss: Below $125
Bearish Scenario:
A breakdown below $127 may expose the $125–$123 range.
Targets:
• TP1: $125
• TP2: $123
Stop Loss: Above $128
Final Note
GNO is consolidating near a critical inflection point around $127–$128. Bulls need to reclaim $128 to revive momentum, while a move below $127 could invite a short-term correction. Volume confirmation will be key to validating any breakout or breakdown in the next sessions.
