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GALA / TetherUS

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GALAUSDT trade ideas

Is GALA Ready to Reverse?So, yesterday we closed a daily candle under $0.034 finding support on a daily support level of $0.03221. Whilst I may not catch the exact reversal point, I do believe that we are in the final stages of an ABC correction and a reversal is on the horizon - Here are my reversal points of interest - 1. We could reverse from here or; 2. We could dip down to $0.3038 before reversing or; 3. We could drop down to weekly support at $0.02720 before reversing. I personally think points 1 & 2 will play out for the reasons in previous charting comments. Whatever happens, I think the weekly candle will end up closing on or above the 0.786 fib level ($0.034 or above). If the weekly candle closes below $0.034 I might become a little concerned. I have given reversal point (3) as an option as this is the technical target for the breakdown out of the triangle correction as a possibility. Sometimes expect the un-expected, although I think that this is unlikely but not impossible - this is crypto. Either way a few days ago I said when the price was $0.034, I said that this is the worst place to leverage for this reason. I will wait for the weekly to close out.
Long
by heywippa
Gala is going to plummet!This is a nail biting zone isn't it! especially if you are leveraged. So Gala has broken support at $0.34, so I am sure everyone's thinking 'that's it!! we're going down'. But are we really? I don't think we are... here's why? - Despite breaking support at $0.34, we haven't closed a daily yet (few more hours). The 4 hour time frame is actually showing bullish divergence. The Stochastic RSI on the daily and weekly are all in buy zones. I give more weight to the higher time frames, but only looked at the 4 hour time frame just to see if I could see a direction on where the daily might go. Personally, I think this is just another classic setup to encourage people to short, before the price reverses upwards liquidating the shorts. Lets see how this goes, if anyone has any thoughts on this would love to hear them in the comments.
Long
by heywippa
2
Gala Gala Gala.... Bullish?What a fall from grace Gala has been, since its $0.086 high in March. All indicators are bullish so I wasn't expecting the price to fall below a monthly support of $0.039, but on June 09th it did just that, and fell down to a weekly support level of $0.034 - which also happens to be the Fib 0.786 support level. We are in the midst of the psychological warfare that is crypto, when crypto looks bullish people leverage and then we get a liquidity grab which is what happened on June 09th, now we are hear so everyone thinks its going down so they short the market and right now we are on that psychological level of 'What next' the 'Unknown'.... I'll put my bets on.... we are going up! Don't leverage here, this is where you get your popcorn out, this is where people get wrecked.
Long
by heywippa
5
#GALA Why Enter This Trade...Why Enter This Trade... In the provided chart for the #GALA/USDT, several factors make this trade particularly attractive: 1. Symmetrical Triangle Formation: The chart shows the formation of a symmetrical triangle, which is a pattern indicating potential breakout points. This is marked by the convergence of the downward trendline and the upward trendline, suggesting a forthcoming significant price movement. 2. Breakout Potential: The price is currently testing the upper boundary of the triangle. A breakout above this line, especially with strong volume, can lead to a substantial upward movement. 3. Support and Resistance Levels: The support level is marked at 0.03414, and the resistance level is set at 0.06197. These levels provide clear targets for setting stop-loss and take-profit orders, minimizing risk while maximizing potential returns. 4. Volume Analysis: There is a noticeable increase in trading volume, which often precedes a breakout. High volume indicates strong market interest and can validate the breakout, reducing the likelihood of a false move. 5. RSI Indicator: The RSI (Relative Strength Index) is not in the overbought zone, suggesting that there is still room for upward movement before the asset becomes overvalued. This indicator provides additional confirmation of the potential for a positive price move. 6. Risk-Reward Ratio: The defined take-profit level at 0.06197 offers a favorable risk-reward ratio. This makes the trade appealing, as the potential reward significantly outweighs the risk, assuming proper risk management practices are in place. In conclusion, while technical analysis points towards a potential breakout and a profitable trade opportunity, it's essential to remember the inherent risks. Set a stop-loss at the support level (0.03414) to limit potential losses if the market moves against the trade. Always combine technical analysis with proper risk management to optimize trading outcomes.
Long
by S_CAPITAL
1
GALA - Ranging market giving LONG Trade opportunityBINANCE:GALAUSDT (12H CHART) Technical Analysis Update GALA is currently trading at $0.03845 and price has hit the support, price has been in the ranging market for more than a month. I'm expecting the price to bounce back from the support and hit the resistance zone. This will give a nice profit in a long trade. Entry level: $ 0.03846 Stop Loss Level: $ 0.03482 TakeProfit 1: $ 0.04046 TakeProfit 2: $ 0.04201 TakeProfit 3: $ 0.04470 TakeProfit 4: $ 0.04930 Max Leverage: 5x Position Size: 1% of capital Don't forget to keep stop loss. Follow Our TradingView Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts. Cheers GreenCrypto
Long
by GreenCryptoTrades
Long signal for GALA/USDTThis technical analysis is based on the daily chart of BINANCE:GALAUSDT on the Binance exchange. This analysis draws two price channels and evaluates support and resistance levels. Price Channel Analysis: The previous bearish channel is broken out, and a bullish channel is formed. The suggested entry point is around 0.04303 USDT. Entry and Exit Points: Entry: 0.04303 USDT Take Profit: 0.06312 USDT (46.74%) Stop Loss: 0.03710 USDT (13.79%) R/R Ratio: 3.39 Conclusion: This analysis suggests that by adhering to the specified take profit and stop loss levels, a successful trade can be achieved. The Reward/Risk Ratio for this trade is approximately 3.39, indicating a highly favorable risk-to-reward scenario. To manage risk effectively, it is recommended to strictly follow the stop loss level.
Long
by QuantCT
Potential Long Position on $GALACurrent Indicators: Weekly Support: We are currently above the weekly support level at $0.03474. Yellow Diagonal Support Trendline: The price is holding above the yellow diagonal support trendline. Accumulation Zone: We've had 52 days of price accumulation, with the price bouncing within a range. Momentum Indicator: The "Squeeze Momentum TD - A Revisited Version of the TTM Squeeze" is currently dark green, indicating a mildly bullish sentiment. Overall Trend: We are in an overall uptrend. What's Missing for Confirmation: Break Above Diagonal Yellow Resistance Trendline: We need to see a break above this key resistance level. Break Above Key Resistance at $0.04971: Clearing this resistance would further confirm a bullish trend. Target Price (TP) Zone: TP Zone: $0.09 area Conclusion: If we break above both the diagonal yellow resistance trendline and the key resistance at $0.04971, this presents a very good long opportunity. Keep an eye on these levels for confirmation.
Long
by Trading_Paradise
GALA ANALYSIS🚀#GALA Analysis : 🔮As we can see in the chart of #GALA that there is a formation symmetrical triangle pattern. Also there is a perfect breakout. But there is an instant resistance zone and if #GALA sustain this breakout and also breakout the major resistance zone then we would see a bullish move📈📈 🔰Current Price:  $0.04740 🎯 Target Price:   $0.08253 ⚡️What to do ? 👀Keep an eye on #GALA price action. We can trade according to the chart and make some profits⚡️⚡️ #GALA  #Cryptocurrency #TechnicalAnalysis  #DYOR
Long
by ZEUS_Market_Alerts
GALA/USDT Has Broken Out of Symmetrical Triangle | What's Next? 💎#GALAUSDT has impressively broken out from a Symmetrical Triangle and is now testing a pivotal level where resistance has transformed into support. The Point of Control (POC) of the VRVP Channel solidifies this support, enhancing our bullish outlook. 💎If #Gala holds this retested support at $0.0373, we expect a vigorous rally fueled by the momentum at this critical juncture. 💎Conversely, if INDEX:GALA loses its grip and retreats below this newfound support, it might signal a resurgence of bearish trends, pointing to a possible descent to the next vital demand zone at $0.0336. This level is renowned for its liquidity and history of triggering strong bullish recoveries. 💎If #GALA revisits this demand zone, securing a strong rebound is essential to sustain support. A failure to rebound might amplify bearish forces, deteriorate market sentiment, and lead to further price declines. 💎Keep your trading strategies flexible and your senses sharp, Paradisers. Your ParadiseTeam is closely monitoring the market, ready to navigate you through the dynamic developments in the #Gala market. MyCryptoParadise iFeel the success
Long
by MyCryptoParadise_Simon
1