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GALAUSD 0.01700 Target hit. What's next?

Long
CRYPTO:GALAUSD   Gala
Gala (GALAUSD) hit the 0.01700 bullish break-out target we gave almost 2 weeks ago on the RSI Bullish Divergence:


Since the price broke also above the 1D MA100 for the first time since April 20 but mainly the Channel Down pattern, we shift to the larger 1W time-frame in order to identify the long-term trend.

As the 1W MACD just formed a Bullish Cross, while the candle broke above the Bear Cycle's Lower Highs trend-line, this break-out is a clear long-term buy signal towards the next level of Resistance, the 1W MA50 (blue trend-line). Our first target is 0.02900 and when the price closes a 1W candle above the 0.236 Fibonacci level, we will re-buy and target (2) 0.06200 (0.382 Fib).

As the crypto officially entered its new Bull Cycle, the Fibonacci retracement levels will start assuming the roles of Resistances on the way up.

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