GALAUSDT goes beyond the resistance of the global descending channel that has been forming for a year. Now the price is forming a wedge. What to expect next? 
A break of the channel resistance forms a new channel, but at the same time the price is squeezed by the current range boundaries in the wedge format.
In the near future, we should expect a retest of resistance followed by a breakout. The altcoin market is starting to revive and a GALA breakout of this area may give us a good potential.
There may not be a strong reaction at the moment, as bitcoin is in the correction phase, but the prerequisites are clear on the chart.
Support levels: previously broken boundary, 0.02310, 0.1783.
Resistance levels: 0.02694
I expect consolidation followed by a breakout of 0.02694 and then a retest of the wedge resistance. The extreme movement may give a signal.
Regards R. Linda!
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🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.