GALA / TetherUSLong
Gala Update: Bullish - Back Testing Support
Updated
I had the day off yesterday and missed the downward movement, which, in hindsight, was fairly predictable. There was a noticeable bearish CVD (Cumulative Volume Delta) divergence forming as early as yesterday morning, signaling a potential correction.
Despite that, it wasn’t anything too serious. As you can see, price broke out of the diagonal resistance and has since come back to back-test it as support. We’ve successfully held that level as support—definitely a positive sign.
Looking ahead, my next target upward is $0.04586, as we continue to work through resistance levels step by step.
Key Levels:
This progression suggests that Gala is in a healthy consolidation and recovery phase, provided the support levels hold. Keep an eye on volume and market reactions as we approach the $0.04586 target.
Despite that, it wasn’t anything too serious. As you can see, price broke out of the diagonal resistance and has since come back to back-test it as support. We’ve successfully held that level as support—definitely a positive sign.
Looking ahead, my next target upward is $0.04586, as we continue to work through resistance levels step by step.
Key Levels:
- Support: Holding the back-tested diagonal resistance as support is critical for maintaining bullish momentum.
- Resistance: Watching for the next significant hurdle at $0.04586, which aligns with the next resistance zone.
This progression suggests that Gala is in a healthy consolidation and recovery phase, provided the support levels hold. Keep an eye on volume and market reactions as we approach the $0.04586 target.
Order cancelled
Sorry guys price broke down this is not ideal.
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.