GALAUSDT trade ideas
Bullish WedgeFormation: A Falling Wedge is indeed a chart pattern characterized by converging trendlines that slope downward. It resembles a triangle slanting against the prevailing trend, with a series of lower highs and lower lows. The space between the two trendlines narrows as the pattern develops.
Reversal Signal: Despite the name "Falling Wedge," this pattern is typically considered a bullish reversal pattern. Traders interpret it as a potential signal that the prevailing downtrend may be losing strength, and an upward reversal may follow. The confirmation of the bullish reversal often occurs when the price breaks above the upper trendline.
Traders and analysts use various technical patterns, including the Falling Wedge, as part of their toolkit to make informed decisions about potential future price movements. However, it's crucial to remember that no pattern guarantees a specific outcome, and other factors should be considered in conjunction with technical analysis.
Be careful but watch๐ผ This currency is near its resistance range, but there is still a possibility of growth up to this resistance range.
โ ๏ธ On the other hand, a corner pattern is forming, which makes possible the possibility of a fall for this currency.
๐ Important support and resistance ranges are also identified in this analysis๐ข A long signal for risk-averse friends was presented in this analysis.
Gala will Rock the World may hit 0.2$ at least !this chart is based on Elliott wave theory and also according to DAW theory .. chart repeat it self again.
if you looking to the chart you will find that we are going to repeat the same move to go to 0.2$ at least to 0.26 $
Gala & CHZ will be the biggest gainer in this mini bull run
GALA/USDT Bullish Prospects supply turned to demand? ๐ ๐๐ Paradisers, turn your attention to #GALAUSDT as it's currently carving an intriguing path in the market. Demonstrating a shift where supply zones have turned into demand, it is lining up for a highly probable bullish movement.
๐ A look back at #Gala recent trajectory shows a pattern of breaking out of a descending channel and initiating an upward trend. Adding to this, it is also tracing an ascending channel trajectory, reinforcing the likelihood of continued upward movement. With sustained momentum, INDEX:GALA is aiming to challenge a major supply zone at $0.04907.
๐ However, given the often volatile nature of the crypto market, #GALA traders should stay prepared for various possibilities. If it struggles to maintain its bullish momentum and falls below the current demand level of $0.02741, a shift in market dynamics may occur. In such a scenario, traders might need to focus on a bullish resurgence from a lower demand level of $0.02465.
๐ Importantly, a descent below this lower demand level could signal potential difficulties in sustaining the bullish trend, necessitating a strategic reassessment. ๐ด๐ฐ
GALAUSDT is BearishGALA is currently starting a bearish trend at 1H time frame, the fall out from the rising wedge fueled by bearish RSI divergence led to the formation of first lower high followed by a lower low. This could potentially be start of a bearish rally, targets are mentioned on the chart.
GALA/USDT Bullish momentum?๐ ๐GALA Today analysis๐Paradisers , GALAUSDT is currently showcasing an intriguing bullish pattern, trading within a demand zone, which signals a strong probability of an upward movement.
๐ Historically, GALA has demonstrated a pattern of breaking above its descending trendline, followed by a successful retest and an ensuing upward trajectory. Presently, as it operates within a demand zone, the likelihood of a bullish trend is quite pronounced. This is further reinforced by the transition of supply into demand, coupled with a sweep below liquidity levels.
๐ The initial target in this bullish scenario is to overcome the resistance level at .2881. Should GALAUSDT successfully breach this barrier, it's poised to challenge a more formidable resistance level.
๐ Conversely, if it struggles to sustain its upward momentum, a strategic bullish move from the .1692 demand level might be anticipated. However, a break below this level could lead to a significant bearish downturn.
#GALA/USDT#GALA
The price is trading in a large descending triangle, and the price has been affected by news on the pair in recent months.
With a strong support area, my price is 0.01300.
The price has rebounded from it, breaching the downtrend from which the price has always rebounded more than once.
The price is currently 0.01800. I expect it to continue rising to 0.04700 levels
to achieve those levels.
All this is backed by a powerful volume.
GALA/USDT It required break the resistance or rejected down ??๐ GALA has become a notable focus in the market, though it's facing challenges in surpassing the resistance area. Historical patterns show that each time GALA approaches this resistance, it faces significant rejections.
๐ If GALA manages to break through this resistance, there's a high probability of a substantial upward movement, aiming for our next targeted milestone.
๐ However, if GALA fails to breach this resistance and instead consolidates at the supply level, there's a risk of it facing another rejection and retreating towards the bullish support trendline. This trendline is pivotal; a loss here could send GALA down to the demand area.
๐ In the demand area, it's crucial for GALA to demonstrate a strong bounce back and attempt another breakout of the resistance. A lack of positive response in this zone could lead GALA to break down further, potentially descending towards a key support area.
GALA/USDT In the crucial area. Break the resistance or rejected!๐ GALA has undeniably captured significant attention in the market. Currently, facing resistance poses the necessity of breaking out to sustain the upward movement. If GALA successfully breaks out of the resistance, there's the probability for significant upward movement, reaching our target area.
๐ However, if GALA fails to break the resistance in the near future, there is a possibility that GALA will retreat and retest the demand area.
๐ The unfavorable scenario is confirmed if, during the retesting phase at the demand area, GALA fails to maintain its position and undergoes a breakdown. In such a case, GALA may revert to a bearish movement, potentially retracing to the strong demand area.
$GALA long ideaShort term we broke out of the monthly resistance now being used as support black line.
Headin up towards the .041 zone. This is where Monthly resistance lies. My intial target.
Long Term as Bull Market continues over the next month or two...possibilty of this breaking completely out of the descending triangle pattern and hitting max force of 25cents.
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!