GASUSD Chart Analysis. Source: Tradingview.com<\/figcaption><\/figure>\nGAS shows strength by rebounding from the $2.05 support level after a prolonged consolidation, indicating the start of a robust recovery. The price encountered significant resistance at $29.4, allowing the bears to drive the price to the $7.45 support zone. However, the bulls’ resilience suggests a potential bounce from this support level.<\/span><\/p>\nThe price is trading above the 50-day and 200-day simple moving averages, with the 50 SMA serving as immediate support. This confirms an overall bullish momentum for the GAS price. Additionally, the moving averages signal a crossover at $2.99, indicating the potential for a bullish rally in the weeks ahead.<\/span><\/p>\nThe Relative Strength Index (RSI) is crucial in assessing the GAS position. Following a rejection at 78, the RSI is bouncing back and trading at 53, above the neutral level of 50. This suggests the need for continued momentum for a sustained upward trend.<\/span><\/p>\nBulls are targeting a breakthrough of the previous high at the $29.3 resistance, potentially paving the way for a new high in 2023 at $0.45. This marks a substantial 65% increase from the current price.<\/span><\/p>\nWhile the bullish outlook is promising, caution is recommended for buyers. A market downturn is possible, especially if bearish pressure persists below the $7.46 support zone. In such a scenario, bulls face additional losses, with the potential for the price to drop to $2.05.<\/span><\/p>\nInvestors might consider the Bitcoin ETF Token (BTCETF) presale as an alternative to traditional GAS investments. <\/span><\/p>\nThis coin presents a compelling opportunity to acquire tokens in a project that stands out for its innovation. The BTCETF is designed to reward its holders following the approval of Bitcoin ETFs, with the potential promise of 100X returns.<\/span><\/p>\n