Trying to predict the markets based on technicals.
Upwards momentum for Gala stalled at $0.29, creating a double top. I see a swift recovery in the price occuring following by a upwards move higher to test the $0.37 resistance. RSI is healthy on the 12 hr chart however significantly oversold on the 4hr and 2hr.
Bias for a long on the 12 hr remains until we see a break in the price below $0.24.
Oversold conditions may push the price slightly lower to meet recent support at $0.2432. Be prepared to average down in your position and risk manage properly.
The crypto market is in a frenzy wherw each day we have seen coins go up by 20-100%. The trend continues as long as we see volume the same or pick up and that optmism in the market remains.
This is not financial advice, just an idea.
Upwards momentum for Gala stalled at $0.29, creating a double top. I see a swift recovery in the price occuring following by a upwards move higher to test the $0.37 resistance. RSI is healthy on the 12 hr chart however significantly oversold on the 4hr and 2hr.
Bias for a long on the 12 hr remains until we see a break in the price below $0.24.
Oversold conditions may push the price slightly lower to meet recent support at $0.2432. Be prepared to average down in your position and risk manage properly.
The crypto market is in a frenzy wherw each day we have seen coins go up by 20-100%. The trend continues as long as we see volume the same or pick up and that optmism in the market remains.
This is not financial advice, just an idea.