GALAUSDT trade ideas
#GALA/USDT#GALA
The price is moving within a descending channel pattern on the 1-hour frame and is expected to rise after it has been largely committed to it
We have a downtrend on the RSI indicator that is expected to break upwards and we have a tendency to stabilize above it
We have a major support level in green at a price of 0.01800
We have a tendency to stabilize above the moving average 100
Entry price 0.01850
First target 0.01955
Second target 0.02060
Third target 0.02176
Potential bottom on Week TFGALA at potential bottom after at least 3 impulse waves down (at week chart). Feels like even in the worst scenario bounce to ~0.03 is something that should happen in any case once correction to those 5 bearish months starts.
Bullish scenario would be return back to 0.06 as it plays role of the top of that HTF range. And where is the top, there is a chance for breakout ;)
GALA LONG ✉️ Pair: GALAUSDT
📈 Direction: Long
💯 Leverage: Cross 5X - 10X - 20X
📊 Entry 1: $0.01830
📊 Entry 2 (DCA): $0.01500
✅ Target 1: $0.03200 (I recommend selling 20-30% of your position)
✅ Target 2: $0.03800 (I recommend selling 20-30% of your position)
✅ Target 3: $0.04500 (I recommend selling 20-30% of your position)
✅ Target 4: $0.05200 (I recommend selling the remaining position)
⛔️ Stop Loss: $0.01400
GALA is trading within a descending channel and nearing a key demand zone. The price is testing a critical level around $0.01830, which could lead to a significant bullish breakout if sustained momentum is achieved.
If the price manages to break above and confirm the breakout of the descending resistance, it could signal a trend reversal. In this case, entry is recommended at $0.01830, with a second buying opportunity (DCA) at $0.01500.
The targets are set based on potential recovery and trend reversal:
Target 1 at $0.03200 reflects a significant initial resistance. I recommend selling 20-30% of your position at this level.
Target 2 at $0.03800 and Target 3 at $0.04500 are higher resistance levels that could be reached during a positive trend. I recommend selling 20-30% of your position at each of these levels.
Target 4 at $0.05200 is a more ambitious long-term goal, considering a complete reversal of the descending trend. I recommend selling the remaining position at this level.
The stop loss is set at $0.01400 to limit risks in case of further decline below the major support level.
DON`T FORGET TO BOOST
GALA Technical Analysis in Daily TimeframeHello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.
Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.
Now, let’s dive into this chart analysis:
INDEX:GALA is currently showing a rebound, holding support at $0.0205, and it is likely to rally once we see a breakout and close above the $0.033 resistance trendline.
The 35 EMA is acting as the primary resistance for GALA, and it must break above it to continue the rally.
Key levels:
- Crucial Support: $0.0205.
- Primary Resistance: 35 EMA ($0.02565).
- Resistance Trendline: $0.033.
- Target: $0.0867.
- Invalidation Point: A close below $0.0205.
DYOR, NFA.
Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!
Thank you!
#PEACE
#GALA/USDT#GALA
The price is moving below a downtrend on a 1-hour frame, and the trend is being tested now and is about to break to the upside.
We have a bounce from the green support area at 0.001900
We have a tendency to stabilize above the Moving Average 100
We have a downtrend on the RSI indicator that is about to break higher and supports the rise
Entry price is 0.02000
The first target is 0.02370
The second target is 0.02600
The third goal is 0.02870
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.
GALAUSDT 1D#GALA is moving inside a descending channel on the daily chart. It is holding the middle line of the channel, and the RSI is in the oversold area. The targets are:
$0.03272
$0.04071
$0.04631
$0.05192
$0.05885
$0.07006
Remember, the resistance around $0.04 is strong.
Support is around the $0.02256 level.