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GALAX 3x Long / Tether

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GALAXUSDT.3L trade ideas

🔥 GALA Fibonacci Reversal: Massive Triangle AnalysisIn my last GALA analysis I talked about the fact that GALA broke out of a bearish channel and retested the resistance as support. My targets have been achieved, congratulations if you took the trade. The second target in my last analysis was placed at $0.05, which is also the 0.618 Fibonacci Retracement, and if often a strong resistance. With BTC seeming weak, alts are losing even more ground because of the increasing BTC dominance. I'm anticipating a bearish move towards the bottom support of the triangle. If BTC can catch a bid, GALA might see a pump towards the top resistance of the pattern.
Long
by FieryTrading
6
Gala Big Correction and Big BoomThis is a Short and Long, so I will post it as Neutral. In the past 8 hours we have fallen out of the heavenly bullish channel and we are now looking at the possibility of a big correction. The pump got us to the top bands and above them, where it got rejected. Now it might want to dip towards the other end of the bands and hit the lows hard at the 236 fibonacci retracement. That should cause a lot of panic selling and opportunity to buy cheap. If we do get down there somehow, I will be placing my long and will hold win or lose and target 9 cent target, for me it would mean long term hold even after hitting 9 cents. I expect a big correction having had that bullish channel broken, together with DXY being at S3 support and bottom of bollinger bands, which might stir up some jumps there. All in all, I will be cautiously watching and expecting the dip, but if somehow it starts returning to bullish territory, I will change my tune.
by TheChartWhisperer
1
GALAUSDT is testing the 4h resistanceGALAUSDT recently bounced off of the daily support level at the 0.032$ area, indicating that there may be strong buying pressure at that level. However, the price is currently trading within a descending channel, which suggests that there is a bearish trend in place. On the 4-hour chart, the price is currently testing the resistance level, which could be a significant area to watch. If the price manages to break out of this resistance level, it could indicate that the bearish trend is losing momentum and a bullish reversal may be in sight. According to Plancton's Rules, a popular technical analysis strategy, a clear breakout above the resistance level would be a signal to enter a long position. This means that traders could consider buying GALAUSDT if the price breaks out of the resistance level and shows signs of continuing upward momentum. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
10
GALA Price Action UnveiledGALA appears to be in a relatively stable position. The current price of $0.04250 is within the range of the upper and lower Bollinger bands. The RSI is at 54.60, indicating that the asset is neither oversold nor overbought. The MACD is slightly negative, which could suggest a potential bearish trend, but this alone should not be used as a signal to buy or sell. The Fibonacci retracement levels can be used to determine potential support and resistance levels. The daily timeframe 0.5 Fibonacci level is currently at $0.04641, which could act as a strong resistance level. The daily timeframe 0 Fibonacci level is at $0.02990, which could serve as a support level. The volume oscillator is at 4.22%, which is not particularly high or low, suggesting that there is moderate trading activity. The stochastic oscillator is at 82, which is relatively high and could indicate that the asset is overbought. However, this should be taken in the context of other indicators and should not be used alone to make trading decisions. So GALA appears to be in a relatively stable position. It's important to consider all available information and conduct further research before making any investment decisions.
by MonoCoinSignal
3