$GAS / USDT – Navigating Resistance! ⛽
$GAS is currently trading at $3.462, showing a modest gain of +3.22%. The 4-hour chart shows the price testing a resistance level around $3.50. It's currently facing some selling pressure at this point.
Potential Scenario:
Observation: $GAS has shown some upward movement but is now encountering resistance. A break above this level could signal further bullish momentum, while rejection could lead to a pullback.
Possible Trade Considerations (Watch Resistance Level):
Entry: Consider potential entries on a confirmed break above the $3.50 resistance level with increasing volume. Alternatively, look for a potential bounce off support around $3.40 if the resistance holds.
Target 1 (if breakout): $3.55
Target 2 (if breakout): $3.60
Final Target (if breakout): $3.65+ (testing previous highs)
Stop Loss (if breakout entry): Place a stop-loss below the breakout level, perhaps around $3.48.
Stop Loss (if bounce entry): Place a stop-loss below the $3.40 support, perhaps around $3.38.
Key Observation: The $3.50 level appears to be a key area of interest. Monitor price action and volume around this resistance to determine the next likely move.
Remember to conduct your own thorough analysis before making any trading decisions.
