GAS is a token created on the NEO blockchain platform with the primary purpose of being fees for processing transactions on the NEO network. With the recent rise in altcoins, GAS's price increased by almost 400% and broke the major downtrend line. It seems GAS is on the role and we might see future development too. Let's see what happens.
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If we look at the GAS's weekly chart, we can see that GAS broke a big triangle pattern and there is a lot of room for growth. Let's see what happens.
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After GAS pumped and reached the first horizontal resistance, it went into correction phase. In the correction wave, GAS price reached the big triangle pattern's upper line, and now it seems GAS broke the minor downtrend line; so, an upward movement is possible. Let's see what happens.
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Here is a closer look at the GAS's correction pattern; descending triangle.
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Finally, GAS broke the minor downtrend line and is going up.
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So, GAS been oscillating in the big triangle pattern. It seems GAS has already started another upward wave from the bottom of this triangle pattern, went up, and reached the upper line. Could GAS break this triangle and repeat the previous upward burst? Let's see what happens.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.