NeoGas (#GAS ) has been gaining attention in the market following its recent price action against USDT. As of the latest trading session, GAS is priced at $3.477, reflecting a 4.29% increase in the last 24 hours. The trading volume also remains strong, with over $5.43 million USDT exchanged, indicating sustained market activity.
Recent Market Performance
During the past 24 hours, #GAS experienced a dip toward $3.311, which acted as a key support level. However, buyers quickly stepped in, pushing the price back toward the $3.528 level, where it encountered resistance. This rebound highlights a short-term bullish momentum supported by active trading volumes.
Technical Overview
Support Levels: The immediate support for GAS lies between $3.30 and $3.32, the range where price previously stabilized before the bounce.
Resistance Levels: The main resistance is observed near $3.52 to $3.55, where price has faced repeated rejection.
Moving Averages:
The 7-day moving average (MA7) is at $3.397, with the current price trading above it, indicating short-term strength.
The 25-day moving average (MA25) at $3.353 continues to serve as dynamic support.
The 99-day moving average (MA99) at $3.237 reflects the broader bullish trend that remains intact.
Volume Activity: A noticeable increase in trading volume has been observed during the upward movement, confirming buyers’ interest in GAS at these levels.
Outlook
In the short term, if #GAS maintains its position above $3.40, it is likely to retest the $3.52–$3.55 resistance zone. A successful breakout above this level could open the way for a move toward $3.80 and beyond. Conversely, failure to hold above $3.30 may allow sellers to retest the $3.20 region.
Conclusion
Overall, NeoGas is demonstrating resilience with signs of renewed buying interest. The market outlook remains cautiously optimistic, with traders closely monitoring the $3.52 resistance zone for signals of a potential continuation of the bullish trend.