Perpetual Protocol (PERP) and Gnosis (GNO) Technical Analysis: What to Expect?

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Perpetual Protocol and Gnosis prices are edging higher with good volumes. GNO/USDT found a barrier at $200 while PERP/USDT bulls aim for $15.

Perpetual Protocol (PERP)

The platform allows for synthetics trading and has emerged as a leading perpetual swap contracts portal. PERP is the governance and utility token.

Past Performance of PERP

There is a PERP resurgence following encouraging formation in the daily chart.

Backed by increasing trading volumes and higher momentum, the path of the least resistance at the time of writing is northwards.

Notably, PERP is bottoming up and has closed above key resistance levels—now support—as buyers dominate. PERP is up 22 percent on the last trading day.

Day-Ahead and what to Expect

Technical candlestick arrangement favors buyers.

There has been confirmation of the June 30 bull breakout above the middle BB.

Additionally, PERP/USDT volumes are swelling, coinciding with the climatic bottoming up of late June 2021.

PERP/USDT Technical Analysis

PERP Price Daily Chart for July 6

From a volumes perspective, every low could provide a loading opportunity for traders to buy the dip.

This is valid as long as PERP/USDT prices trend above the middle BB and $6.

As per the daily chart alignment, the immediate target for PERP is $15 or May 2021 highs.

Gnosis (GNO)

The decentralized predictions market platform depends on Ethereum for security. Herein, third parties can also build their services. Central to the portal is the GNO token.

Past Performance of GNO

The GNO price ranges inside a broader $90 zone with caps at $200 and $110.

Overly, there is demand for the project as per the last week’s price action.

As of writing, GNO is relatively stable against the USD and backed by decent trading volumes.

Day-Ahead and what to Expect

GNO is trading within a bearish broken pattern as per price action in the daily chart.

Although this week’s recovery has been impressive, $200 remains to be a critical resistance line.

A close above this psychological mark could be the basis of a lift-off towards H1 2021 highs of around $300.

GNO/USDT Technical Analysis

GNO Price Daily Chart for July 6

From a top-down approach, sellers have the lead because of mid-May 2021 events.

GNO bulls have been bouncing back with rising trading volumes.

While GNO buyers can load the dips targeting $300, risk-averse types can wait for a conclusive close above $200 before committing with the same target.

Losses below $160 nullify the uptrend, firming the ground for a possible retest of $110 in a bear trend continuation pattern.


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