Looks like forming a falling wedge now. SRSI and RSI looks bullish on 1 and 2hr, MACD could turn up on 1hr, on 2hr still bearish looking, I was expecting that it will retest 200sma at least, on a bigger timeframe not so bullish, so this could be a short pull-back move only (scalp trade). Maybe just bearish retest of this WHITE trendline that used to be support, and now we broke down from it so it should act as resistance now. So if entering long, watch breakout level (yellow line) 20sma (blue line), resistance trendline of that new falling wedge, and that white trendline... All of them you should look at as resistance now. That is really a LOT of RESISTANCE LEVELS stacked near each other, so be careful... Good luck traders
Totally agree! And well analysed. Looks like GALA is still sitting within the falling wedge now, with small forays through the line of resistance. My feeling is that we may see more rapid falls to 0.09-0.095 before bullish momentum knocks the value back up towards 0.11-0.12 around 10th/11th Oct. Still remains to be seen whether this will push the value up for a longer period than we've seen recently, so we can play with the 5-10% fluctuations within that more comfortable 0.11-0.12 range.