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Galausdtbuy

GALA/USDT - 4HR TIME FRAME - BULLISH!!This chart illustrates a bullish reversal setup using Elliott Wave Theory, Fibonacci retracement levels, and RSI divergence. Here's a detailed breakdown: 📉 Elliott Wave Count: The chart shows a complete 5-wave impulse down labeled (1) to (5), suggesting a potential end of a bearish trend. Wave (5) appears to have just completed, indicating a possible reversal point. 🔍 Falling Wedge Pattern: A falling wedge is visible between waves (4) and (5), which is typically a bullish reversal pattern. Price is near the wedge’s apex, hinting at an imminent breakout. 🟡 Strong Demand Zone: Price is currently inside a yellow demand zone (roughly $0.0136 to $0.0144). This zone coincides with the 0.786 Fibonacci retracement level at $0.01363, a common reversal level. 📊 RSI Indicator: The RSI at the bottom shows a bullish divergence: Price made a lower low, while RSI made a higher low. This signals weakening bearish momentum and potential upside ahead. 🧠 Summary: This is a technically sound bullish setup, suggesting a bottoming structure and an upcoming uptrend. The confluence of Elliott Wave completion, wedge breakout, RSI divergence, and Fibonacci support all point to a strong reversal probability.
Long
by thelordvendetta
#GALA/USDT#GALA The price is moving within a descending channel on the 1-hour frame and is expected to break and continue upward. We have a trend to stabilize above the 100 moving average once again. We have a downtrend on the RSI indicator, which supports the upward move by breaking it upward. We have a support area at the lower limit of the channel at 0.01940, acting as strong support from which the price can rebound. Entry price: 0.02042 First target: 0.02101 Second target: 0.02193 Third target: 0.02300
Long
by CryptoAnalystSignal
1
#GALA/USDT#GALA The price is moving within a descending channel on the 1-hour frame, adhering well to it, and is on track to break down strongly and retest it. We are seeing a bounce from the upper boundary of the descending channel. This support is at 0.01533. We have a downtrend on the RSI indicator that is about to break and retest, which supports the decline. We are looking to stabilize above the 100 moving average, but the price is on track to touch it first. Entry price: 0.01516 First target: 0.01489 Second target: 0.01466 Third target: 0.01434
Short
by CryptoAnalystSignal
#GALA/USDT#GALA The price is moving within a descending channel pattern on the 1-hour frame and is expected to rise after it has been largely committed to it We have a downtrend on the RSI indicator that is expected to break upwards and we have a tendency to stabilize above it We have a major support level in green at a price of 0.01800 We have a tendency to stabilize above the moving average 100 Entry price 0.01850 First target 0.01955 Second target 0.02060 Third target 0.02176
Long
by CryptoAnalystSignal
2
Bullish WedgeFormation: A Falling Wedge is indeed a chart pattern characterized by converging trendlines that slope downward. It resembles a triangle slanting against the prevailing trend, with a series of lower highs and lower lows. The space between the two trendlines narrows as the pattern develops. Reversal Signal: Despite the name "Falling Wedge," this pattern is typically considered a bullish reversal pattern. Traders interpret it as a potential signal that the prevailing downtrend may be losing strength, and an upward reversal may follow. The confirmation of the bullish reversal often occurs when the price breaks above the upper trendline. Traders and analysts use various technical patterns, including the Falling Wedge, as part of their toolkit to make informed decisions about potential future price movements. However, it's crucial to remember that no pattern guarantees a specific outcome, and other factors should be considered in conjunction with technical analysis.
Long
by SONIGLOBALTRADINGSOLUTIONS
GALAUSDT UpdateIn my previous post about BINANCE:GALAUSDT , I predicted a 30% pump. I have attached that post here. However, you can see that the price has reacted to the resistance and has not yet been able to break through it. However, GALA is still bullish for me, and there are two scenarios that could happen in this situation. This currency is waiting for the next move of BINANCE:BTCUSDT and will start its next move with Bitcoin, which can be bullish or bearish. Or, the next upward move will begin from the points I marked on the chart. Please note that there have not been such upward movements in the crypto market for several years, and many people think this is the end of the bullish market. However, anything is possible in a volatile market.
Long
by Madoir
2