GAS price remains stable above $1.85, with increased trading volume indicating renewed market participation. The cryptocurrency is consolidating below a descending daily trend line, which has capped recent rallies and created a compression pattern. This setup often precedes significant volatility, as traders watch for momentum confirmation signals.
The price action has respected a descending trend line formed by lower highs, suggesting a controlled corrective phase rather than aggressive selling. Despite several support tests, the lower boundary has held firm, with buyers absorbing intraday sell-offs. A potential breakout above this trend line could trigger a substantial rally, with projections of a 150% to 200% upside move if confirmed by a strong momentum candle and increased volume.
Currently trading at $1.89, GAS has seen a 2.14% increase over the past day. The price briefly surged above $2.10, reaching a local high near $2.18 before facing resistance. Support remains strong between $1.84 and $1.86, underpinning the short-term structure, as volume surged to approximately $46.57 million during the recent expansion phase.
GAS Price Holds Steady Above $1.85 Amid Trend Line Compression
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