asset is displaying bearish signs
The Gorilla price's daily chart revealed massive price fluctuations which resembled like a fierce battle between bulls and bears. The bulls dominated the first week of December 2023, causing the price to rise from the demand zone at $0.003000 to $0.016500 by December 19th.
However, the price fell back to the same demand zone at $0.003000 by January 29th. The bulls tried again from the same demand zone at $0.003000 by January 30th, 2024, resulting in the price soaring to $0.018000 by March 9th, 2024, where the candle closed at the $0.013500 price mark. The price attempted to sustain near the supply level but failed after March 10th and followed a lower low and high pattern.
The Gorilla crypto faced a severe plunge after touching the resistance supply level and declined to lower levels.
Despite a significant decline, the Gorilla asset still appears bearish and has fallen below the significant trend in the 20-day and 50-day EMA bands. If sellers continue to surge, the drastic decline could extend to even deeper levels, or the price may start consolidating in the short term.
The Gorilla asset is displaying bearish signs and may sink even lower. Negative price performance of -7.51% and -21.32% were recorded in previous weeks and months, respectively, indicating a steady downward trend.
Currently, the price is trading at $0.004477, with an intraday decline of -4.68%. Therefore, if the price breaks the immediate critical support level of $0.003500, it is likely to reach even lower depths. However, if the price recovers, then the above targets for the Gorilla price in long trend would be $0.008000 and $0.010000.
However, the price fell back to the same demand zone at $0.003000 by January 29th. The bulls tried again from the same demand zone at $0.003000 by January 30th, 2024, resulting in the price soaring to $0.018000 by March 9th, 2024, where the candle closed at the $0.013500 price mark. The price attempted to sustain near the supply level but failed after March 10th and followed a lower low and high pattern.
The Gorilla crypto faced a severe plunge after touching the resistance supply level and declined to lower levels.
Despite a significant decline, the Gorilla asset still appears bearish and has fallen below the significant trend in the 20-day and 50-day EMA bands. If sellers continue to surge, the drastic decline could extend to even deeper levels, or the price may start consolidating in the short term.
The Gorilla asset is displaying bearish signs and may sink even lower. Negative price performance of -7.51% and -21.32% were recorded in previous weeks and months, respectively, indicating a steady downward trend.
Currently, the price is trading at $0.004477, with an intraday decline of -4.68%. Therefore, if the price breaks the immediate critical support level of $0.003500, it is likely to reach even lower depths. However, if the price recovers, then the above targets for the Gorilla price in long trend would be $0.008000 and $0.010000.
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