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, $9.4 proved to be the peak resistance.

2. Market sentiment

• As of August 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 $100 by 2028 and increase to $2,000 by 2032.

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: Yearly low draws the token towards it

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 depreciating to the lowest floor at $2.2 in mid-August.
 

The market experienced a paradigm shift in late October as bullish forces gained the upper hand, propelling GAS beyond substantial resistance levels. Subsequent price pumps led it to soar as high as $29 by November.

The GAS/KRW trading pair’s listing on the Upbit exchange was the primary catalyst for this surge. 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, sellers reversed the market’s course in mid-March before reaching the highest barrier.

Selling pressure reinstated $5.4 as a price wall by May. After repeated attempts to reclaim this level, the buying momentum faltered. Consequently, the price fell to a low of $2.9 in July. The resurgence of optimism in many altcoins mid-month allowed it to test $4.0.
 

Nonetheless, the bears clawed it down to the previous support by month’s end. At the time of writing, GAS traded at $3.0, with bulls striving to defend the current support.

If the broader market recovers, GAS may reverse its trajectory as well. A bullish flip of the closest resistance would make the market conditions favorable for buyers. Furthermore, if the bull run continues, the price may move past the highest resistance to attain the critical $10 valuation within 2024.

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 $100. This growth is noteworthy as it reflects attaining new all-time highs (ATHs) in the coming four years. The models anticipate that the average price could be around $2,000 by 2032.

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. However, the MACD’s ascent was halted in December.
• It formed a bearish crossover 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 -0.6587, the signal line at -0.4996, and the histogram at -0.1591. 
• The Chaikin Money Flow (CMF) moved above the zero line in late October but swiftly retraced its steps into negative territory by the next month. Another short uptick was noted in April. 
• However, it wasn't sustained, bringing the indicator to register at -0.17 at the time of writing. This highlighted a continuous outflow of money from the asset.