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GALA / TetherUS

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GALAUSDT trade ideas

A descending triangleA descending triangle is a technical analysis chart pattern used in trading and investing. It's a bearish continuation pattern that forms when: 1. A price consolidates within a triangle, with 2. A falling upper trendline (resistance) and 3. A flat lower trendline (support). The descending triangle indicates a breakdown below the support level, suggesting a continued downward price move. It's considered a reliable pattern, as it shows selling pressure increasing while buying pressure decreases. Key points: - The pattern typically forms during a downtrend. - The falling resistance line shows decreasing demand. - The flat support line represents a level of supply. - A breakdown below the support level confirms the pattern. - The target price is estimated by measuring the height of the triangle and subtracting it from the breakdown point. The descending triangle is a strong indication of a potential price drop, and traders often use it as a signal to sell or short a price. As with any chart pattern, it's essential to combine it with other technical and fundamental analysis tools for confirmation.
Short
by De_Dommex
GALA TREND ANALYSISWaited awhile for pice to come to the .25 zone but it finally did for a retest of the macro falling wedge it broke out from. Also lines up with rising channel if you disregard the bigger correction. Now, looking at the weekly ichimoku cloud. When I see cloud wall like this on the weekly, I get very excited. Certain assets that pump well, can run the face of these cloud walls and GALA has a history of being able to pump. Refer to TRIAS and SHIB on the weekly and you will see that both coins completed the weekly cloud wall pumps. Will it hit .40? We shall find out. But not in GALA hodl mode as I believe alt season is beginning as BTC grabbed support and could soon see new highs.
Long
by wesheets
GALA — Oversold RSI, Local Bottom → 16% Upside PotentialGALA found a local bottom at $0.027 and printed a reversal candle on the daily chart. Additionally, the RSI and Stochastic Oscillator hit oversold levels. Moreover, the crypto token performed well during Bitcoin's dip yesterday. Therefore, it is likely that GALA will enter a bullish direction. The next resistance is $0.032, resulting in a 15%-16% profit potential. Historically, the oversold RSI on the daily chart resulted in some pretty solid gains: Out of 62 signals, GALA pumped more than 10% in 82%.
Long
by ben_walther
Gala (GALA)On the above 4-day chart price action has recently corrected 50% since a sell signal in late January (ask below if you wish to see). A number of reasons now exist to be long.. 1) You know why. 2) Price action finds support on the golden ratio. 3) There is a positive divergence between RSI and price action. 4) The bull flag channel, naturally a bullish pattern on confirmation of a breakout to the upper side of the channel. 5) A breakout confirmation will result in a 300% gain from current levels. Is it possible for price action to fall further? Sure. Is it probable? No. Ww Type: Trade Risk: <= 6% Timeframe to open: Now Return: 300%
Long
by without_worries
45
GALA - Has potential - Buy in SpotBINANCE:GALAUSDT (1W CHART) Technical Analysis Update GALA is currently trading at $0.02823 and price is retracing after breaking out from the resistance line, since the price had significant retracement, i'm expecting this support line to hold and bounce back from it. This gives a good opportunity for long trade, You can either buy in spot market or in future with low leverage (minimise your risks) Entry level: $ 0.02435 - 0.02817 Stop Loss Level: $ 0.01399 TakeProfit 1: $ 0.03599 TakeProfit 2: $ 0.04789 TakeProfit 3: $ 0.06562 TakeProfit 4: $ 0.13133 TakeProfit 5: $ 0.28521 Max Leverage: 2x or Spot Position Size: 1% of capital Remember to set your stop loss. Follow our TradingView account for more technical analysis updates. | Like, share, and comment your thoughts. Cheers GreenCrypto
Long
by GreenCryptoTrades
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