Is GALA on the Verge of a Breakout or a Breakdown?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🌴