🚨 GAS/USDT: NeoGas at a Crossroads! Has the Bullish Breakout Lost Steam?

Market Outlook: After a period of impressive growth in recent weeks, GAS is now facing a short-term setback, pulling back from its recent local highs. The price is showing recent weakness, experiencing a 24-hour decline. The overall market sentiment is cautious, with traders watching to see if the recent lows hold as support. Trading volume has been elevated, indicating continued market interest but now testing key support levels.

💡 Futures Trading Plan (Neutral Stance):

🟩 Long Entry Trigger: Look for a sustained breakout and candle close ABOVE the resistance level of $3.65–$3.70 on a higher timeframe (e.g., 4H or Daily) with a significant volume increase. This could signal a reversal of the recent bearish momentum.

💰Targets: $3.95, $4.20, and potentially towards $4.50.

🛑Stop Loss: Below the breakout candle's low or below the immediate support at $3.48.

🟥 Short Entry Trigger: Consider a short if the price breaks BELOW the crucial support level around $3.48 with a closing candle on a higher timeframe. This would indicate a continuation of the downtrend.

💰Targets: $3.27, and potentially lower toward the previous accumulation range near $3.00.

🛑Stop Loss: Above the breakdown candle's high or above $3.58.

Your Action Plan:

01 - Wait for Confirmation: GAS is currently in a high-volatility zone. Do not enter a trade until a clear breakout or breakdown is confirmed by a candle close on a relevant timeframe.

02 - Use a Stop-Loss: Given the asset's recent volatility, a stop-loss is not optional. It is essential for managing risk and protecting your capital.

03 - Manage Your Risk: Do not over-leverage your position, especially given the recent price swings. Assess your risk tolerance and size your trades accordingly.

📢 What are your thoughts?

Vote: Do you think GAS will hold its support and bounce, or will the selling pressure continue?

Bounce and Recover 🚀

Further Decline 📉

Comment: Share your analysis below!