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GALAUSDT Perpetual Contract

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GALAUSDT.P trade ideas

Gala weekly chartThe gala weekly chart looks fairly bullish to me. I drew a fib retracement from the most recent macro swing high and the token has been ranging within the first fib level for months. The first and second attempt at the red fib have failed. The RSI has broken out of a macro downtrend and the EMAs are beginning to curve upward. Volume shows a macro uptrend as well. Gala tends to front run gaming hype but provide less multiples during bullish trends. I would say it goes for the green fib in the next month or two if this gaming hype remains. I do not own any Gala as I believe there are better lower market cap opportunities out there.
Long
by Apollo_21mil
🌟🔍GALA's Remarkable Recovery 🚀💡 💹 GALA's Impressive Price Increase: Since the 98% drop from 2021, GALA has remarkably rebounded, gaining nearly 120% from its support at $0.01271. 🤝 Team Issues and Strong Comeback: After some internal issues among the GALA team, including disagreements between the CEO and founders/co-founders, the coin has made a notable comeback. 🔒 Current Resistance Challenge: GALA is currently facing a significant resistance at $0.02816. 📊 Rising Wedge in Daily Timeframe: The coin is in a rising wedge pattern, which is typically risky for continuation. If this pattern breaks down, there's a potential for a 33% drop to $0.01742, though this scenario seems less likely. 👀 Watching Bitcoin's Move: The next steps depend on Bitcoin’s reaction to its support at $36,358. A break below this level could lead to a decline to $32,800. 📉 Potential Impact on GALA: If Bitcoin loses its support, GALA may break its wedge pattern and experience a sharp decline. 🚀 Bullish Scenario for GALA: If Bitcoin holds its support and moves towards its high, and simultaneously Bitcoin dominance fluctuates or drops, GALA could be one of the best coins to buy. 🛒 Buying Strategy: Consider buying GALA after it breaks the $0.02816 resistance, especially for long-term holdings. Don't use a tight stop loss for long-term trades. For a safer entry, consider entering after it surpasses $0.03135. 👁️ Volume Importance: Pay attention to the volume to confirm the trend. 🔑 Related Categories: Pattern Analysis Resistance and Support Volume Analysis 📣 What’s your take on GALA's future? Share your insights! 🌐💬 #GALAToken #CryptoInsights #TradeCityPro 📚 Remember: Cryptocurrency markets are volatile. Always conduct thorough research before investing! 📈🔎
Long
by tradecitypro
21
Gala (GALAUSDT) Analysis: Gaming Sector Poised for Upside Move!Exciting times ahead for Gala (GALAUSDT) as the gaming narrative gains momentum and GALA positions for a potential breakout. Key Points: Technical Setup: GALA has been under close observation, particularly as it approaches a critical juncture. It's currently in proximity to the daily descending resistance line dating back to May 2022. Resistance Challenges: Overhead, substantial resistance looms. GALA faces the dual challenge of breaching the daily resistance line and surpassing the $0.026 - $0.028 resistance area. A successful move beyond this region could pave the way for further upward momentum. Next Resistance Zones: Once past the initial resistance, the next areas to watch are $0.035 - $0.038. These levels could become key battlegrounds as GALA aims higher. Support Levels: It's crucial to monitor the support levels. The current support at $0.024 is pivotal. If this level doesn't hold, the next support sits at the bottom of the range around $0.02. Investor Caution: Given the potential for significant price movements, traders are advised to exercise caution and closely monitor GALA's price action. Breakouts and breakdowns from key levels will provide valuable insights into the coin's next directional move.
Long
by Richtv_official
GALA to 0.027 - 0.28 Hello traders, Honestly this was a trade that I should have published earlier but I was trapped on it Seems like gala was forming micro inverse head and shoulder pattern on 15m-30m frame Target of the pattern is at 0.027$ A strong resistance lies at 0.02828$ Notice that btc isn't stable this time, so please take care, market is not stable enough to reach the target but hopefully it well so you have to use stoploss Stoploss can lie under the neckline or the previous swing low at .02385 Wish you a good day
by TANcrypt0
3
🎮 GALA: Navigating the Reversal Play 🚀In the ever-evolving world of crypto, GALA has caught the attention of traders with its intriguing price action. Despite a decline since 2021, the coin has shown resilience, leaving substantial liquidity overhead. The recent price move, executing a drop beneath the global pivot level and forming a double bottom, signals a robust reversal pattern. Buckle up as GALA gears up for a potential upswing. Chart Analysis: GALA's Double Bottom Drama GALA's chart reveals a compelling narrative — a sustained drop since 2021 followed by a decisive move below the global pivot level. However, what captured the attention of seasoned traders is the formation of a double bottom pattern beneath this critical level. This reversal pattern is often a precursor to a bullish turnaround, indicating a shift in market sentiment. Technical Indicators: Reversal Signals in GALA Key technical indicators, including the strong bounce off the double bottom and the historical liquidity left above, are aligning to create a potential reversal scenario. The double bottom acts as a psychological support level, and combined with the retained liquidity, it sets the stage for a bullish resurgence. Trading Strategy: Riding the GALA Reversal Wave For traders eyeing GALA, the double bottom presents an opportunity for strategic entries. Monitoring the reaction around the historical liquidity zone and gauging the strength of the reversal will be crucial. A well-planned trading strategy considering these factors could position traders favorably for the potential bullish wave. Conclusion: GALA's Play for Redemption As GALA maneuvers through its recent price action, the formation of a double bottom speaks volumes about the coin's resilience. The retained liquidity above the global pivot level adds another layer of intrigue, hinting at a potential redemption play for GALA. Traders and enthusiasts alike are now watching closely as GALA readies itself for a potential reversal. 🚀 GALA Analysis | 📉 Reversal Patterns | 💡 Trading Insights ❗See related ideas below❗ Are you gearing up for the GALA reversal play? Share your insights 💚🌐💚
Long
by Yaroslav_Krasko
2