ETHGas price surges 66% – Why $0.25 could decide GWEI’s next move
ETHGas (GWEI) surged 66% in 24 hours, trading at $0.2166 with market cap reaching $379 million. The rally was supported by strong market participation, as daily volume jumped 76.5% and Open Interest in derivatives rose over 69%, indicating new capital and conviction from traders. Spot exchange netflows also turned positive, reflecting increased trading activity.
Technically, GWEI broke above the $0.1839 resistance level, with the MACD indicator showing strengthening bullish momentum. The next key resistance is at $0.25. The concurrent rise in trading activity, OI, and spot flows suggests a sustainable breakout, provided buyers defend the $0.1839 support level. A failure to hold this level could trigger profit-taking.
ambcrypto06/30 02:02
