GAS downtrend has been pretty consistent during the past month. Price droped from $13, where it has rejected the 200 Moving Average, down to the recent low at $3.6. This is a over 70% loss to the USD in a relatively short period of time.
However, the decline has been stopped by the 1327.2% Fibonacci retracement level applied to the corrective wave up after the uptrend trendline breakout. Along with the Fib support, GAS/USD has tested and rejected the lower trendline of the descending channel while forming a bullish divergence on the RSI oscillator.
This might be the first signal of a potential trend reversal, as the price already seems to be very undervalued. As the trend reversal confirmation, downtrend channel breakout should be considered. But for now, perhaps it is still a waiting time, although some heavy risk takers are getting some more GAS right now.
However, the decline has been stopped by the 1327.2% Fibonacci retracement level applied to the corrective wave up after the uptrend trendline breakout. Along with the Fib support, GAS/USD has tested and rejected the lower trendline of the descending channel while forming a bullish divergence on the RSI oscillator.
This might be the first signal of a potential trend reversal, as the price already seems to be very undervalued. As the trend reversal confirmation, downtrend channel breakout should be considered. But for now, perhaps it is still a waiting time, although some heavy risk takers are getting some more GAS right now.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.