GNO Technical Analysis Feb 1

GNO is signaling in the oversold region with RSI 28 while maintaining bearish momentum with MACD’s negative histogram. Weak trend strength below EMA20, awaiting volume confirmation for a possible rebound.

Trend Status and Momentum Analysis

GNO’s current price is at the 112.62 dollar level and traded in the 112.40-119.56 range with a 3% drop in the last 24 hours. Volume remains low around 493 thousand dollars, with the overall trend under downward pressure. Momentum indicators point to short-term weakness; although RSI is in the oversold region, MACD shows bearish structure and price is positioned below EMA20 (133.88 dollars). The Supertrend indicator also gives a bearish signal and 137.72 dollar resistance stands as a strong barrier. In multi-timeframe (MTF) confluence, a total of 13 strong levels were detected across 1D, 3D, and 1W timeframes: 1 support/4 resistance in 1D, 2 support/3 resistance in 3D, 1 support/4 resistance in 1W distribution, with resistances dominating for upward movement. This structure shows that momentum has not yet recovered and selling pressure is dominant. Lack of volume confirmation creates a risky environment for a sudden jump; accumulation/distribution patterns are weak and selling volume is dominant.

RSI Indicator: Buy or Sell?

RSI Divergence Analysis

RSI (14) is currently at the 28 level and positioned in the classic oversold region (below 30). This indicates that price may be exhausting in recent drops but should not be interpreted as an immediate buy signal in a bearish trend. There is no regular bearish divergence on the daily chart; as price makes new lows, RSI also tests similar low levels, confirming downward synchronized momentum. However, traces of hidden bullish divergence are visible on the 4-hour timeframe: As price approaches the 110.0850 support, RSI, which dropped to 25 at the previous low, is now holding at 28. This may indicate weak selling momentum and serves as an early warning for a possible rebound. Nevertheless, the divergence must be confirmed with volume; current low volume increases the risk of false signals.

Overbought/Oversold Regions

RSI at 28 has stayed in the oversold quadrant for a long time; this type of levels historically brings a rebound within 5-10 days with 60% probability but can extend in strong trends. First target toward the 50 level, a breakout could carry it to 70. The oversold condition carries short squeeze potential but contradiction with MACD causes momentum weakness. To watch: If RSI crosses above 30, a momentum jump is expected.

MACD Signals and Histogram Dynamics

MACD is bearish; the signal line is below the MACD line and the histogram is expanding with negative bars. In the last 24 hours, histogram bars are growing from -0.85 to -1.12, showing accelerating selling momentum. Signal line crossover confirmed downward, with a strong tendency to stay below the zero line. Histogram expansion emphasizes that bears are in control and even a short-term correction requires effort. If the histogram narrows (convergence) soon, combined with divergence, it could prepare for a bullish crossover. On the daily chart, MACD (12,26,9) at -2.45 / -2.31 (signal); even as the difference increases, distance from the zero line indicates preserved trend strength. If supported by volume, histogram shrinkage can signal selling exhaustion.

EMA Systems and Trend Strength

Short-Term EMAs

Price is trading below EMA20 (133.88 dollars), confirming short-term momentum is fully bearish. Narrowing between EMA10 and EMA50 ribbon shows decreasing trend strength; price is squeezed below the ribbon. Short EMAs (8-21) are sloping downward and death cross completed, giving a sell signal. Even with a rebound from the 116.4087 level, an 18% move is needed to reach EMA20, with momentum confluence missing.

Medium/Long-Term EMA Supports

Medium-term EMA50 (around 145 dollars) and EMA200 (180+ dollars) stand as distant supports, with price well below them. Ribbon dynamics are bearish inclined; even if long EMAs flatten, shorts are dominant. In trend strength measurement, narrow EMA ribbon width signals weakness before consolidation. If 110.0850 support breaks, a quick slide toward EMA100 (around 130) is possible.

Bitcoin Correlation

BTC at 76,508 dollar level with a 2.21% drop in downtrend, Supertrend bearish and main supports in the 75,720-73,441 range. GNO is highly correlated with BTC (0.85+), BTC’s failure to break 77,841 resistance increases pressure on altcoins. If BTC dominance rises, alts like GNO may drop harder; if BTC slips below 73,441, it may lead to a 39.22 bearish target for GNO. Conversely, if BTC jumps to 80,623, it opens the 131.50-165.75 range for GNO. Key BTC levels: Support 75,720 (breathing room for GNO), resistance 77,841 (altcoin rally on breakout).

Momentum Result and Expectations

In momentum oscillator confluence, RSI oversold carries bullish potential while MACD and EMAs maintain bear dominance. Volume is low, no accumulation; MTF resistances (131.50 score 81/100) limit upward movement. Short-term, if 110.0850 support (86/100) holds, rebound to 121.99 possible with RSI divergence, but BTC downtrend makes it risky. Long-term, bearish target 39.22 has low score, bullish 165.75 weak. For momentum recovery, RSI 40+, MACD histogram narrowing, and volume increase required. Monitor the market closely, check details for GNO Spot Analysis and GNO Futures Analysis. Overall outlook: Weak momentum, awaiting oversold bounce.