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GALAUSDT

GALA: Channel Down BreakoutTrade setup: Bullish breakout from Channel Down pattern and above $0.025 resistance, which confirms the channel breakout. Price is now up against another resistance (~$0.032) and is getting overbought (RSI > 75). Pattern: Price is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis. Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance: Nearest Support Zone is $0.017. The nearest Resistance Zone is $0.025, which it broke, then $0.032, and $0.045.
Long
by altFINS
1
GALA: at this point wait to shortOk, here the daily chart: I think that until BTC stays in green various alts could do this dead cat bounces, in this case it's too late to jump on the longs but you could wait for shorts. Considering that a pin bar (shooting star in this case) already happened below the first level at which I'd attempt a short I'd set a sell order over that OB. Let's say around 0.0245 USDT. It might go but also fail, I wouldn't risk too much though so set the SL accordingly. If price oges over 0.255 I'd wait for the second OB to short. I'm still not trading actively because of my dissertation, soon I'll finish it and I'll start again. Good luck
by Shotokhan
4
GALA has registered a 30% growth in the last 24 hoursGALA has registered a 30% growth in the last 24 hours. The price is in a long-term bearish channel on the daily time frame, which has recently generated a strong positive reaction and a strong increase in demand by hitting the $0.01600 support area. This strong return has caused the price to reach the ceiling of the descending channel. According to the type of encounter, there is a possibility of breaking this dynamic resistance and leaving the descending channel. GALA cryptocurrency is in the ranges that were first traded at these prices. You can consider a downward trend line on the RSI indicator in the daily time frame. This trend line is broken and pullback to the range of 29-30 on the RSI; we can expect a strong positive reaction. The break that happened in the $0.020 range was fake, and a return to this range could bring a positive reaction. Strong support is considered in the daily time frame between $0.018 and $0.020, which pullback and return to this area can bring a strong positive reaction. Also, in this time frame, we see an upward spike phase formation. If we observe a reaction to the channel ceiling in the lower time frame, there is a possibility of forming a double ceiling pattern and correcting towards the specified support. The closest support to the current price is considered in the range of $0.0220-0.0226, which could bring a positive reaction. The main static resistance is in the range of $0.0245 to $0.0255, which has seen a negative reaction to this level twice.
by MonoCoinSignal
4
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.
Long
by MasterAnanda
9