Is GALA on the Verge of a Breakout or a Breakdown?
Updated
Yello, Paradisers! Could this be the breakout moment we’ve been waiting for? Let’s dive into #GALAUSDT’s latest move!
💎#GALA is currently trading within an ascending channel, showing a gradual upward trend since the lows of August 5th. The price is now facing immediate resistance between the $0.0172 and $0.0180 levels, a zone that has been tested multiple times in recent days. Despite these attempts, GALA has struggled to break through.
💎If the bulls manage to push past this resistance, we could see a strong breakout, potentially propelling GALA to the $0.01920 to $0.01985 range. This upper resistance aligns with the ascending channel’s top boundary, making it a critical zone where strong profit-taking is likely.
💎In a bullish development, GALA has managed to break above the 4-hour EMA-50 level for the first time since July 22nd. This could indicate further upward momentum in the near term.
💎On the downside, the EMA-50 at $0.02475 is currently the primary support level. Below that, the ascending support around $0.01580 is crucial. Losing this level could trigger a possible double bottom formation, which would be bearish for GALA.
Stay disciplined, Paradisers! Keep a close watch on these levels and be ready to act when the opportunity arises. Remember, patience and strategy are your best tools in this market.
MyCryptoParadise
iFeel the success🌴
💎#GALA is currently trading within an ascending channel, showing a gradual upward trend since the lows of August 5th. The price is now facing immediate resistance between the $0.0172 and $0.0180 levels, a zone that has been tested multiple times in recent days. Despite these attempts, GALA has struggled to break through.
💎If the bulls manage to push past this resistance, we could see a strong breakout, potentially propelling GALA to the $0.01920 to $0.01985 range. This upper resistance aligns with the ascending channel’s top boundary, making it a critical zone where strong profit-taking is likely.
💎In a bullish development, GALA has managed to break above the 4-hour EMA-50 level for the first time since July 22nd. This could indicate further upward momentum in the near term.
💎On the downside, the EMA-50 at $0.02475 is currently the primary support level. Below that, the ascending support around $0.01580 is crucial. Losing this level could trigger a possible double bottom formation, which would be bearish for GALA.
Stay disciplined, Paradisers! Keep a close watch on these levels and be ready to act when the opportunity arises. Remember, patience and strategy are your best tools in this market.
MyCryptoParadise
iFeel the success🌴
Trade active
Boom! #GALA is doing just what we said. Up 13.25% and looking good!
GALA likely to re-test the resistance into support. If price manages to convert the resistance region into support, Gala is likely to have another round of upside.
On the contrary failing to overturn resistance would likely open price to re-test the ascending support yet again.
Trade closed manually
#Gala can now be closed as price has lost its recently established support range.
Trade closed: target reached
Another win! #GALA up 18.50%, as forecasted!
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