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Rarible (RARI) and Gnosis Protocol (GNO) Technical Analysis: Prices Motoring Higher

cryptoknowmics.com 11 October 2021 11:36, UTC
Reading time: ~2 m

Rarible and Gnosis Protocol prices diverge. Although GNO may float above $320 to $420, the RARI token could outperform the market, even doubling to $40.

Rarible (RARI)

Rarible, the community-driven NFT marketplace, depends on RARI for governance.

Past Performance of RARI

At the time of writing, the Rarible coin bulls are rampant, adding 32 percent versus the greenback.

These are flashes of strength validating the uptrend.

Currently, RARI token prices are in a bullish breakout pattern above the middle BB and the descending channel.

Day-Ahead and What to Expect

On the last trading day, RARI coin ended the week on a stronger notch, adding 32 percent on the last trading day on a bullish breakout pattern.

RARI token buyers are confident, expecting continuation above the consolidation mirroring the July-August trend.

In this case, how Rarible crypto prices hold above $20 will define the short to medium-term trajectory.

Rarible Technical Analysis

RARI crypto is bullish.

Rejuvenated after periods of consolidation, buyers are firm above last week's highs at $20.

A follow-through confirming the bullish breakout of October 10 may see the Rarible coin spring to $40, doubling.

On the flip side, unexpected losses below $15—last week's lows—may see RARI token slide to $12 in a bear trend continuation pattern.

Gnosis Protocol (GNO)

The GNO token powers the Gnosis Protocol, a predictions market on Ethereum.

Past Performance of GNO

The Gnosis Protocol crypto prices are wavy, posting red on the last trading day versus the USD. Nonetheless, buyers are in a commanding position, trending at around all-time highs as per the GNO technical analysis of the daily chart.

Day-Ahead and What to Expect

The path of the least resistance is northwards, even with lower lows relative to the upper BB.

For the uptrend to be valid and buyers flow back, there must be a high-volume close above $320.

This, reading from the candlestick arrangement in the daily chart, may see GNO coin prices tear higher towards $420. However, losses below $280 would poke holes into the strength of bulls, allowing sellers back.

Gnosis Protocol Technical Analysis

There are lower lows versus the upper BB as GNO is down on the last day in a consolidating market.

While buyers may load on dips, risk-averse traders can wait for trend definition above $320.

Losses below $280—last week's low—may force GNO back towards $250 and later $230—September 2021 lows.

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