Gas (GAS) Price Prediction 2023-2030: Will GAS Price Hit $100 Soon?

• The bullish GAS price prediction ranges from $42.985 to $51.336.
• GAS price might also reach $62 in 2023.
• GAS’s bearish market price prediction for 2023 is $0.926.

Neo has made its mark in the crypto industry with its diverse features and services. As investor demand for Neo continues to spike, developments can be seen throughout the network. At the same time, GAS has become a key token on several investor watchlists. As interest increases for this token, the community will be curious about GAS and its prices in the future.

If you are interested in learning about GAS’s price analysis and forecast for the years 2023, 2024, 2025, 2026, 2027, and until 2050, read this Coin Edition price prediction article.

GAS Market Overview

What Is GAS?

In the Neo network, GAS, aka the utility token of the Neo blockchain, is used as a form of payment to charge for the operation and storage of tokens and smart contracts. Based on the documents, this is done so as to prevent the “abuse of node resources.” It has been pointed out that system fees will be burned while network fees are redistributed to consensus nodes. It is expected that this would create an economic incentive for their services.

Reportedly, it is noted that among the five gas tokens generated per block, they are distributed into three parts. Around 80% will be split between successful voters, while the remaining 20% will be distributed equally among all NEO holders and the 21 members of the Neo council. 

Furthermore, the largest portion of GAS is distributed to voters as a reward for playing an active role in network governance. For those who wish to partake, NEO holders need to ensure they choose a wallet that supports voting. 

GAS Current Market Status

At the time of writing, GAS is now trading at $9.83 with a total market capitalization of 

$593,744,860. GAS sits in 78th place on CoinMarketCap in terms of market capitalization. Moreover, there has been a price surge of 10.93% in the past 24 hours. GAS’s 24-hour trading volume is $515,546,187 with a spike of 339.95%. GAS can be traded on major cryptocurrency exchanges such as Binance, Gate.io, KuCoin, Crypto.com, OKX, and ProBit Global.

GAS Price Analysis 2023

Will GAS’s most recent improvements, additions, and modifications help its price rise? Moreover, would the changes in the blockchain industry affect GAS’s sentiment over time? Read more to find out about GAS’s 2023 price analysis.

GAS Price Analysis – Bollinger Bands

The Bollinger Bands are a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilize the time period and the standard deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean. 

The bands have expanded extremely, which may have been caused by the massive green candlesticks formed during the trading activity. However, after touching the upper band, the candlestick fell to the bottom half of the Bollinger Bands. The price correction that happened recently could indicate that the market would become stable once again.

GAS Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is regarded as an overbought region, and traders expect the price to fall soon.

The RSI is currently valued at 51.26 after falling from the overbought region. Earlier, the RSI made a bullish cross and shot up to the overbought region. However, after being a short-time residence of the overbought market, the indicator dropped down immediately after a bearish cross. It looks like a bullish cross will happen soon, as the RSI has already touched the SMA.

GAS Price Analysis – Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will make the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at the 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. MACD plays an important role, as it can confirm trends and identify potential reversals.

The MACD also highlights the recent uptick event of GAS, as green abrs were forming on the histogram of the indicator. Moreover, the MACD line reached a peak during the overbought trading activity. However, immediately, the MACD line made a bearish cross and fell down. The red bars are also forming, signifying the presence of the bears. 

GAS Price Prediction 2023

The recent upticks observed in the chart highlight that the previous price actions were somewhat stable when compared to the current price. It seems that a sudden trigger from the pump may have caused the price to break through several resistance levels. However, the pump was somewhat short lived as immediately a red candlestick formed, pulling the altcoin down. Although the bulls are still in power, there may be a chance that their reign could end soon. Traders need to wait for more signals before confirming the trade.

Meanwhile, the price prediction of GAS for 2023 remains bullish and is expected to reach beyond the level of $42.985. The bearish price prediction range for GAS is between $0.926 and $0.354. However, if GAS experiences an extremely bullish sentiment, then it would cross the $62 threshold.

GAS Price Prediction 2024

Traders are looking forward to this year as it could be a historic moment for cryptocurrencies, as the Bitcoin halving is expected to happen in 2024. Most of the time, whenever BTC rises, traders have observed a similar surge in the altcoins. GAS could also be affected by Bitcoin halving and could trade beyond the price of $59.93 by the end of 2024.

GAS Price Prediction 2025

GAS could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, GAS will continue to rise in 2025, forming new resistance levels. It is expected that GAS will trade beyond the $63.49 level.

GAS Price Prediction 2026

It is expected that after a long period of bull runs, the bears will come into power and start negatively impacting cryptocurrencies. During this bearish sentiment, GAS could tumble into its support region of $55.25. Moreover, when GAS remains in the oversold region, there could be a price correction soon. GAS, by the end of 2026, could be trading beyond the $66.94 resistance level after experiencing the price correction.

GAS Price Prediction 2027

Naturally, traders expect bullish market sentiment after the crypto industry was negatively affected by the bears’ claw. GAS is expected to rise after its slumber in the bear season. Moreover, GAS could even break more resistance levels as it continues to recover from the bearish run. Therefore, GAS is expected to trade at $69.84 by the end of 2027.

GAS Price Prediction 2028

Once again, the crypto community is looking forward to this year, as there will be another Bitcoin halving. Like many altcoins, GAS will continue to form new higher highs and is expected to move on an upward trajectory. Hence, GAS would be trading at $76.58 after experiencing a massive surge by the end of 2028.

GAS Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, GAS could be trading at $79.02 by the end of 2029.

GAS Price Prediction 2030

After witnessing a bullish run in the market, GAS and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, GAS could be trading at $81.46.

GAS Price Prediction 2040

The long-term forecast for GAS indicates that this altcoin could reach a new all-time high (ATH). This would be one of the key moments, as HODLERS may expect to sell some of their tokens at the ATH point. However, GAS may face a slight fall before starting its upwar journey once again. It is expected that the price of GAS could reach $156.729 by 2040.

GAS Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, GAS could surpass the resistance level of $47.454.

Conclusion

To summarize, if investors continue to show interest in GAS and add these tokens to their portfolio, then it could continue to rise. GAS’s bullish price prediction shows that it could pass beyond the $51.336 level in 2023. Moreover, GAS could surpass the $266.856 level by the end of 2050. 

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