{"id":608028,"date":"2026-06-14T04:00:48","date_gmt":"2026-06-14T08:00:48","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=608028"},"modified":"2026-06-14T00:32:24","modified_gmt":"2026-06-14T04:32:24","slug":"ethgas-doubles-in-june-can-gwei-extend-its-100-recovery","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/ethgas-doubles-in-june-can-gwei-extend-its-100-recovery\/","title":{"rendered":"ETHGas doubles in June – Can GWEI extend its 100% recovery?\u00a0"},"content":{"rendered":"

ETHGas native token, GWEI, has more than doubled from June lows below $0.10 to over $0.20. In fact, the token was up over 750% from the February lows, making it one of the best-performing altcoins despite the broader crypto market contraction.\u00a0<\/span><\/p>\n

In fact, on Saturday, the 13th of June, bulls were on the verge of cracking a key ceiling that has blocked further uptrend since the beginning of the year (trendline resistance, dotted white line).\u00a0<\/span><\/p>\n

At the same time, technical indicators were flashing potential buyer exhaustion. So, which way for <\/span>GWEI\u2019s<\/span><\/a> parabolic move?\u00a0<\/span><\/p>\n

What’s next for ETHGas rally?<\/h2>\n

On the price chart, the latest leg of the rally was triggered from the golden zone (50%-61.8% Fibonacci levels). In fact, this zone also acted as a support in April, making the $0.10 a key demand line if GWEI profit-taking surges.\u00a0<\/span><\/p>\n

\"ETHGas<\/a>
Source: GWEI\/USDT, TradingView\u00a0<\/span><\/figcaption><\/figure>\n

That said, the rally could still extend to the upside target at $0.25 with a potential 18% gain if hit. But such a move could be confirmed if the GWEI decisively stays above the trendline resistance.\u00a0<\/span><\/p>\n

However, should it falter at the multi-month roadblock, $0.16 and $0.10 could be the next key support levels to watch out for. <\/span><\/p>\n

Worth pointing out that the daily chart RSI (relative strength index) had entered the overbought territory. This suggested that a buyer’s exhaustion couldn\u2019t be overruled.\u00a0<\/span><\/p>\n

If the exhaustion creeps in and GWEI fails to stay above the trendline resistance, then a cool-off could be likely.\u00a0<\/span><\/p>\n

What’s driving ETHGas pump?<\/h2>\n

For the unfamiliar, ETHGas is a marketplace that allows users to buy blockspace upfront, even during network congestion. It was designed to address the Ethereum gas fee problem, but it goes beyond.<\/span><\/p>\n

It\u2019s a futures marketplace, more like a prediction market, that can help gauge when demand for blockspace will spike or ease. So, it also allows users to hedge accordingly.\u00a0<\/span><\/p>\n

In fact, to some extent, there has been a close correlation between GWEI price action and the price of gas or demand for blockchain space.\u00a0<\/span><\/p>\n

Notably, there was a <\/span>spike<\/span><\/a> in gas prices in mid-May and early June. This meant there was relatively higher demand for blockchain.\u00a0<\/span><\/p>\n

\"ETHGas\"<\/a>
Source: Etherscan\u00a0<\/span><\/figcaption><\/figure>\n

Over the same period, GWEI pumped 250% and 130%, respectively. Currently, the blockchain demand has tapered off, and if the correlation holds, GWEI\u2019s rally could also cool off.\u00a0<\/span><\/p>\n

\n

Final Summary<\/h2>\n
    \n
  • ETHGas\u2019s GWEI doubled from $0.10 to $0.20 and could add another 18% gain if the uptrend extends.\u00a0<\/span><\/em><\/li>\n
  • However, the recovery could face a potential cool-off as a technical indicator flashed potential buyer exhaustion.\u00a0<\/span><\/em><\/li>\n<\/ul>\n
    \n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

    Can bulls overlook the potential buyer exhaustion and push higher? <\/p>\n","protected":false},"author":79,"featured_media":608035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,41,18,66,4,20],"tags":[6427],"class_list":["post-608028","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-analysis","category-hide-cryptopanic","category-new-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"\nETHGas doubles in June - Can GWEI extend its 100% recovery?\u00a0 - AMBCrypto<\/title>\n<meta name=\"description\" content=\"ETHGas [GWEI] has rallied to a new all time after fronting a 100% pump in June, but buyer exhaustion could set in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/ethgas-doubles-in-june-can-gwei-extend-its-100-recovery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ETHGas doubles in June - 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