Gas Price Prediction: 2024, 2025, 2030

GAS price prediction: Key highlights

1. Primary support and resistance levels

• Within the weekly time frame, the lowest support level for GAS can be expected at $1.9.
• Meanwhile, $20 can likely prove to be the peak resistance.

2. Market sentiment

• As of July 2024, the GAS market is in a bearish state.

3. Predictive forecasts

• Forecasts from AI/ML predictive algorithms estimate that the average price of GAS will exceed $130 by 2028 and increase to $1,300 by 2031.

Get insights on GAS via a comprehensive weekly technical analysis, followed by the coming weeks of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

GAS technical analysis: Bears evaporate token’s yearly gains

GAS’ prospects for buyers have been less than appealing, but a Gas price prediction for 2024 might offer some new perspective. The analysis commenced with the cryptocurrency attempting to breach $3.0. Nevertheless, it faced rejection. 
 

By mid-August, the price had returned to the lowest floor at $2.2. Towards the end of October, the market experienced a paradigm shift as bullish forces gained the upper hand, propelling GAS beyond $3.0. Subsequent price pumps led GAS to soar as high as $29 by November.

The primary catalyst for this surge was the listing of the GAS/KRW trading pair on the Upbit exchange. Data from Lookonchain disclosed that Upbit accounted for an astonishing 61% of the trading volume for GAS pairs, marking it as a significant factor in this unexpected rally. 

However, the euphoria was short-lived. GAS could not sustain this peak and faced a sharp rejection, indicating overvaluation. The downturn pushed the price below $9.4 in mid-November, turning it into a new highest yearly resistance.

A series of declines drove the asset to $5.4 in the new year. After a month-long stabilization, buying pressure accumulated, and the price rose. However, before it reached the highest barrier, sellers reversed the market’s course in mid-March.
 

Selling pressure reinstated $5.4 as a price wall by May. After repeated attempts to reclaim this level, the altcoin's momentum faltered, and the price fell to a low of $3.0 in July. At the time of writing, GAS was trading at $3.1, with bulls striving to defend the current support.
 

If the broader market recovers, GAS may reverse its trajectory as well. The short to medium-term outlook suggests that if bulls successfully breach the current resistances, the token could target price levels of $14 and $20. However, the latter can also temper further gains. 

Conversely, increased seller aggression could compromise GAS’ current support level, causing the price to retract to $2.2. A continued downturn can also make $1.9 the next downside target.
 

Our predictive models indicate that by 2028, the average GAS price is expected to increase by more than $130. This growth is noteworthy as it reflects attaining new all-time highs (ATHs) in the coming four years. The models anticipate that by 2031, the average price could soar to $1,300.

GAS' 2024 roadmap: Key indicators to watch and trade

• The trading volume started concerningly low but surged significantly as the price pumped in Q4 2023. As GAS retracted below its peak resistance, a corresponding decline in volume was noted. This reflected a lack of investor conviction at higher price levels.
• The Moving Average Convergence Divergence (MACD) and the signal line initially remained below the zero line, with the latter atop. It was not until mid-October that the MACD line climbed above the signal line and turned positive towards the end of the month. 
• The signal line also followed shortly after that. Notably, the MACD line continued to ascend until December, after which it reversed its trajectory.
• It fell below the signal line again in January and eventually turned negative by May. The signal line followed suit by mid-June. At the latest measure, the MACD line was at -0.6356, the signal line at -0.3420, and the histogram at -0.2937. These values supported a negative outlook for the asset.
• The Chaikin Money Flow (CMF) depicted the dominant selling sentiment by staying negative for most of the analysis. It spiked above the zero line in late October but swiftly retraced its steps into the negative territory by the next month.
• Another short uptick was noted in April. However, it wasn't sustained, bringing the indicator to register at -0.04 at the time of writing. It highlighted an outflow of money from the asset.