Gorilla Crypto Price Forecast: Will Its Price Bounce Back?

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• 1 Gorilla crypto price is currently trading at $0.005825 with a gain of 9.70% in the last 24 hours with a market cap of $4,604,058.
• 2 Gorilla’s crypto price decreased by 11.54% over the past seven days.

GORILLA is a meme cryptocurrency that’s set to make waves in the digital asset world by blending its infectious popularity with real-world applicability, offering an investment prospect that goes beyond the usual meme coin offerings. It distinguishes itself with an IDO Launchpad that offers early backers a tactical edge, and a decentralized exchange (DEX) that includes sophisticated stop/loss options to enhance trading. Moreover, $GORILLA’s NFT series aspires to compete with top-tier collections such as “Bored Ape Yacht Club.”

Over a week, Gorilla crypto has experienced a decrease of approximately 11.54% but it grew 6.59% in a month. Looking back over three months, Gorilla cryptos have dropped by about 8.43%, while the crypto has gained to around 115.74% over the last six months. Furthermore, the crypto’s performance throughout the year has been lackluster, with a year-to-date slump of approximately 3.66%.

At press time, the Gorilla crypto price was $0.005825, with an intraday gain of 9.70%, showing bullishness in the recent session. Moreover, the trading volume is $4,922,464. The market cap is $4,604,058. Moreover, indicators maintained strong sell signals.

Technical Analysis of Gorilla Crypto Price in 1-D Timeframe

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If the crypto price can sustain at this level, the Gorilla price bounce back up and reach the first and second targets of $0.012000 and $0.016900. However, if the Gorilla price cannot maintain this level and falls, then it might hit the closest support levels of $0.004000 and $0.003000.
At the time of publishing, Gorilla crypto (USD: Gorilla) is trading below the 50 and 100-day EMAs (Exponential moving averages), which are supporting the price trend. 
Nevertheless, if selling volume adds up then the price might conquer supporting SMA’s by making lower highs and lows. Hence, the Gorilla price is expected to move downwards giving bearish views over the daily time frame chart.
The current value of RSI is 43.00 points. The 14 SMA is above the median line at 42.57 points which indicates that the Gorilla crypto is bearish.
The MACD line at -0.000692 and the signal line at -0.000466 are above the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the Gorilla crypto price.

Summary

Gorilla technical oscillators and indicators support the bearish trend. The MACD, RSI, and EMA are giving adverse indications and suggest that the negative trend may continue in the Gorilla crypto price. Moreover Gorilla crypto can go high if it gets the desired support from buyers. Meanwhile, Gorilla cryptos need to accumulate buyers in order to push the crypto Gorilla price towards the recovery phase. However, the Gorilla crypto price has been caged inside the horizontal range-bound.

Technical Levels

Support Levels: $0.004000 and $0.003000
Resistance Leves: $0.012000 and $0.016900

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.

Post source:https://www.thecoinrepublic.com/2024/04/02/gorilla-crypto-price-forecast-will-its-price-bounce-back/