Gala Hits New All-Time Low | Time To Recover!
As you can see from the chart below, GALAUSDT hit a new All-Time Low just days ago and is preparing to reverse the trend.
22-Nov-2022 Gala hit its lowest price since September 2021, when this pair was made first available for trading on this exchange.
For those looking for trend-reversals, hitting new lows is always a great signal.
How to know if this is really a low and a bullish wave will take place or if prices will continue lower?
One way is to look at the RSI.
If you notice early November, you can see new lows being hit but the RSI being weak.
Right now GALAUSDT went even lower yet the RSI is now strong.
Another way to know if a bullish wave will follow a new low set is by looking at how the other pairs/assets/altcoins are behaving.
When you see pairs such as DOGE and LTC, ETH, REN, MATIC, FTM, etc. You have another signal that supports a change of trend.
If all these other pairs were looking bearish, this low might not be the end.
Since we have a strong RSI and many other altcoins already moving up, we can say that GALA too will recover... If not, we have a setup with very low risk and high potential rewards; which is what we are looking for anyway.
Namaste.
22-Nov-2022 Gala hit its lowest price since September 2021, when this pair was made first available for trading on this exchange.
For those looking for trend-reversals, hitting new lows is always a great signal.
How to know if this is really a low and a bullish wave will take place or if prices will continue lower?
One way is to look at the RSI.
If you notice early November, you can see new lows being hit but the RSI being weak.
Right now GALAUSDT went even lower yet the RSI is now strong.
Another way to know if a bullish wave will follow a new low set is by looking at how the other pairs/assets/altcoins are behaving.
When you see pairs such as DOGE and LTC, ETH, REN, MATIC, FTM, etc. You have another signal that supports a change of trend.
If all these other pairs were looking bearish, this low might not be the end.
Since we have a strong RSI and many other altcoins already moving up, we can say that GALA too will recover... If not, we have a setup with very low risk and high potential rewards; which is what we are looking for anyway.
Namaste.
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