GALA continued its price increase after a shallow correction

In the last 24 hours, GALA continued its price increase after a shallow correction. This modification did not reach the specified range due to the high power of the buyer. The strong upward movement and the continuation of the spike phase broke the ceiling of the descending channel. So, in the daily time frame, due to the formation of a higher ceiling than the last ceiling, we see the initial signs of a trend change. This strong bullish candle can also be seen in the weekly time frame. Therefore, we can expect a price correction according to the shape of the candles in the 4-hour timeframe.

The candle, which formed the highest level, hit the range of $0.040, and on the other hand, the close of the candle was in the middle of the range of the candle, which indicates that the possibility of sellers entering and creating a range trend has increased. So, in case of correction, we can consider two supports. The first support is in the range of 0.030 to 0.028 dollars, and the second is in the range of 0.025 dollars. If the price reaches these levels and we see signs of support, we can expect the price to grow. The medium-term target range of $0.062 to $0.070 can be a profit-saving area for medium-term buyers.

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