#GAS Where should GAS go?
GAS is really a love-hate relationship. I love it because it brought me $700,000 in profits in 2023, and I hate it because it gave me back $400,000 in profits. After closing the position at $28 (the best price in history was $32 in 2018), I started to go long at $16, which resulted in the current contract being held.
Is GAS a human or a ghost? GAS coin is a native token in the NEO blockchain ecosystem, mainly used to pay transaction fees on the network and the cost of executing smart contracts. It is a component of the NEO dual token system, and together with the NEO token, it constitutes the economic incentive model of the entire blockchain.
From the perspective of GAS functions and application scenarios, I personally am optimistic about its great potential in the long run.
Current market data (in US dollars)
Current price: about US$5.7 (as of press time)
24-hour fluctuation range: 5.50 - 5.80
52-week fluctuation range: $2.50 - $9.00
Technical indicator analysis
1. Support level:
The short-term support level is $5.50, which is the lowest price in recent times. If it falls below, it may further drop to $5.00.
The medium- and long-term support level is about $4.50, which is the key rebound point in the past few months.
2. Resistance level:
The first resistance level is $6.00, which is the upper edge of the recent consolidation area.
The second resistance level is $7.50, which is the main high point of the rebound in 2024.
3. Relative Strength Index (RSI):
The current RSI is around 45, indicating that the market has not yet entered the oversold or overbought range, and the short-term trend may tend to fluctuate.
4. Trading volume:
The 24-hour trading volume is about $22 million, indicating that the market trading enthusiasm is medium to low, and it is difficult to see large fluctuations in the short term.
Overall, the crypto market sentiment has warmed up, and mainstream coins have driven the overall rise.
Target price: If it breaks through $7.50, it may move towards $9.00 (52-week high).
Falling range: If it loses $5.00, it may fall further to $4.00-$4.50.
