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 lay at $2.1.
• Meanwhile, $20 can likely prove to be the peak resistance.

2. Market sentiment

• As of May 2024, the GAS market is in a neutral to bearish state.

3. Predictive forecasts

• Forecasts from AI/ML predictive models estimate that the average price of GAS will exceed $20 by 2028 and increase to $100 by 2033.

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: Market navigates a downturn

GAS’ prospects for buyers have been less than appealing, but Gas price prediction for 2024 might bring some new perspective. The analysis commenced with the asset losing its standing over $3.0. Engulfed in bearish clutches, the cryptocurrency fell to the lowest support at $2.1 by June.

Subsequent attempts to breach the former level again faced a similar fate. By mid-August, the price had retraced its steps to the lowest floor. Towards the end of October, the market experienced a paradigm shift as bullish forces gained the upper hand, propelling GAS beyond the $3.0 resistance. Subsequent price pumps led GAS to soar as high as $29 by November.

The main catalyst for this surge was 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 major 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 $9.1 in mid-November, turning it into a new high resistance.
 

Entering mid-December, the price dipped below $7.0. The bulls were able to stabilize GAS at $4.8 support in January. Their consistent pressure led the altcoin to reclaim the former by the end of February. 

Nonetheless, the momentum faltered as the price took its place back below $7.0 in mid-March. Repeated tests of this level faced a stern rejection in April, precipitating more declines and causing the asset to fall back to $4.8. At the time of writing, GAS was trading at $4.9, with bulls striving to defend the current support.
 

In April, Neo introduced the Neo X Beta Testnet. This testnet brought significant enhancements in interoperability and governance. Notably, Neo X is set to utilize GAS as both the governance and utility token.
 

Given GAS' increased utility,  its value can likely increase as the mainnet development progresses. Short to medium-term prospects suggest that if bulls successfully breach the current resistances, GAS could target price levels of $14 and $20. 

However, the latter can also temper further gains. Conversely, an increase in selling pressure could breach GAS’ current support level, causing the price to retract to $3.0.
 

Our predictive models indicate that by 2028, the average price of GAS is expected to increase by more than $20. This growth is noteworthy as it reflects a robust recovery in the market. Despite this positive outlook, the pathway to surpassing its all-time high (ATH) remains lengthy. The models anticipate that by 2033, the average price of GAS could potentially soar to $100.

GAS' 2024 roadmap: Key indicators to watch and trade

• The trading volume started out 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 conviction among traders at higher price levels.
• The Moving Average Convergence/Divergence (MACD) line dropped below the signal line in May. It subsequently dropped below the zero line in June, with the signal line following by the end of the month. 
• It was not until 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 thereafter. 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. At the latest measure, the MACD line was at -0.0779, the signal line was at 0.2121, and the histogram stood at -0.2899. These values supported a negative outlook for the asset.
• The Chaikin Money Flow (CMF) depicted the dominnat selling sentiment by staying negative for most of the analysis. It spiked above the zero line in October, going as high as 0.36, 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 -0.06 at the time of writing. It highlighted an outflow of money from the asset.