$GWEI (ETHGas) – Expert Technical Analysis & Outlook (1H chart)
Price shown: ~$0.0313 | +179%
1) What just happened
Vertical pump → sharp dump: Price wicked up to ~0.13 and instantly sold off to ~0.011. That’s classic liquidity grab / blow-off move.
Post-dump base forming: Small consecutive green candles from ~0.011 to ~0.031 show short-term relief bounce.
Volume: Huge sell volume on the dump; rebound volume is lower → recovery is corrective, not impulsive.
2) Key Levels
Support
$0.028–0.030 (intraday pivot; losing this weakens the bounce)
$0.020–0.022 (next demand zone)
$0.011–0.013 (major bottom; loss = trend failure)
Resistance
$0.035–0.038 (first supply / likely rejection)
$0.045–0.050 (strong overhead from breakdown)
$0.070–0.080 (only if momentum fully flips bullish)
$0.13 (extreme spike high; unlikely soon)
3) Indicators (implied from structure)
Trend: Still bearish on higher timeframe after the crash.
Momentum: Short-term bullish dead-cat bounce.
MAs: Price is likely below major MAs (25/99), so rallies face selling pressure.
4) Scenarios (Next 24–72h)
Base Case (Most likely):
Range / pullback between $0.028–0.038. Sellers defend 0.035–0.038 → drift back toward $0.022–0.025.
Bullish Continuation (Lower probability):
Clean hold above $0.030 + volume expansion → push to $0.045–0.050. Expect heavy selling there.
Bearish Breakdown (Risk):
Lose $0.028 → quick drop to $0.020, possibly $0.011 retest.
5) Trading Guidance (Risk-aware)
Not a buy for mid/long-term yet. Structure is damaged.
Scalp only: Buy near $0.028–0.030, take profits $0.035–0.038.
Stop-loss: Below $0.027 (tight) or $0.020 (wider).
Avoid chasing pumps—this token shows high volatility & low holder count, typical of sharp reversals.
6) Verdict
This is a post-manipulation recovery, not a confirmed trend reversal. Expect choppy price action, lower highs, and strong sell pressure on every rally until the chart rebuilds structure above $0.05 with volume.