GALA Games' Festive Surge: GALAUSDT LONGMy TA suggests KUCOIN:GALAUSDT , is presently breaking out for a potentially massive festive rally as we head towards Christmas.
This bullish outlook stems from the formation of two solid patterns that I have been seeing often in the Crypto markets and which have almost always preceded upward price movements. First, a cup and handle formation, with the cup fully printed on the daily time frame:
This cup has been forming over half a dozen months showing diligent accumulation by market participants. The second pattern which we can see is a falling wedge pattern which is on the 30-minute time frame and may prove to make up part of the cup's handle.
We can see in the above chart snapshot how the price broke out of the falling wedge pattern to the upside and quickly retested the most recent demand zone for what seems to be the last time.
At the time of publishing, an aggressive entry which would have been between 0.02923 and 0.02965 is already behind us. A more relaxed entry, can still be taken at current price 0.0343 with an initial profit target as shown below.
This Festive Surge comes just as the Crypto market leader BINANCE:BTCUSD yesterday successfully broke and managed to close the day above $44k to put BTC's gains at over 160% year to date!
Thanks for dropping by, hope you enjoyed this. I would love to hear your thoughts on this in the comments below. Happy Trading!
