Good Morning, Traders!
Gnosis has been in a constant bearish trend since the beginning of this year. Looking at the Bollinger Bands, it can be seen that the lines have very recently started to straighten a bit, signaling a possible reversal. In the case of the reversal, the resistance level matched with the 23.6% fib retracement serves as a strong resistance and could result in an end to a short bulls movement.
The RSI indicator states that Gnosis has been oversold since the middle of March and could be seen as an opportunity to buy for some traders and see the price move in the bullish direction.
Long-term the momentum has been small bullish fights with an overall bearish result as it follows the trend line. If the price does not reverse from the support level at 0.00%, it can be predicted to continue following the trend line.
Important Resistance Levels: 0.0091, 0.0098
Important Support levels: 0.0074
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Written by:
Hammad Fazlani
Research Analyst
Gnosis has been in a constant bearish trend since the beginning of this year. Looking at the Bollinger Bands, it can be seen that the lines have very recently started to straighten a bit, signaling a possible reversal. In the case of the reversal, the resistance level matched with the 23.6% fib retracement serves as a strong resistance and could result in an end to a short bulls movement.
The RSI indicator states that Gnosis has been oversold since the middle of March and could be seen as an opportunity to buy for some traders and see the price move in the bullish direction.
Long-term the momentum has been small bullish fights with an overall bearish result as it follows the trend line. If the price does not reverse from the support level at 0.00%, it can be predicted to continue following the trend line.
Important Resistance Levels: 0.0091, 0.0098
Important Support levels: 0.0074
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Written by:
Hammad Fazlani
Research Analyst