Gnosis, a leading decentralized platform for prediction markets and on-chain infrastructure, has experienced a notable price surge. The broader crypto market recovery is contributing to this renewed investor confidence. GNO’s price has broken a significant resistance level, showcasing strong upward momentum. With sentiment improving, the key question emerges: How high can GNO climb as market conditions evolve?
Gnosis Price Surges Past $280: What’s Next for GNO?
Gnosis price recently surged to $280, forming a bullish ascending triangle on the daily chart. This pattern indicates a high likelihood of continued upside in the coming sessions. Key support is now established around $260, while resistance looms near $293. Breakout traders anticipate further gains as momentum accelerates.
Projected targets for GNO following a confirmed breakout are $330, $385, and $420. These levels represent potential gains of 17.8%, 37.5%, and 50%, respectively, from the current price levels.
Why is Gnosis Rallying?
Gnosis price appears well-positioned for a sustained rally, driven by improved on-chain metrics and strong fundamentals. Recent data reveals a sharp uptick in daily active addresses interacting with the Gnosis network, indicating growing user adoption. Daily active addresses surged by 18% over the past week, from 4,200 to 4,950, a bullish signal for GNO demand.
Additionally, the Gnosis Total Value Locked (TVL) in decentralized applications climbed to $700 million, reflecting a 12.5% week-over-week increase. This growth highlights rising trust in the platform’s robust infrastructure for DeFi applications.
On-Chain Metrics Signal Reduced Selling Pressure
The Network Realized Profit/Loss (NPL) chart for Gnosis indicates a decrease in profit-taking behavior. Earlier selling pressure during the market’s local peak has now subsided. This reduction in short-term selling typically creates a foundation for upward price movement.
Furthermore, the 30-day Market Value to Realized Value (MVRV) ratio fell below the neutral line, suggesting that short-term holders are no longer in profit. Historically, such dips signal that selling pressure is reduced and often precede price rebounds. The current MVRV stands at -2.1%, creating an ideal accumulation phase for long-term investors.
Strong Development Activity Bolsters Gnosis Fundamentals
Gnosis has maintained strong development activity, with over 300 GitHub commits in the past month, a 9% increase compared to the previous month. This consistent activity signals confidence in the network’s roadmap and long-term potential.
Moreover, the launch of Hashi, Gnosis’s bridge aggregator, enhances interoperability between blockchain networks, positioning Gnosis as a key player in cross-chain infrastructure. Such developments are likely to drive further adoption and price appreciation.
Conclusion: Can Gnosis Maintain Its Momentum?
With bullish technical patterns, rising on-chain activity, and reduced selling pressure, Gnosis appears primed for further gains. The next targets at $330, $385, and $420 represent significant upside potential for traders and investors. However, the broader market sentiment and Gnosis ecosystem developments will play a key role in sustaining this upward trajectory.