Hello Traders
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- As seen on the chart GALA made a perfect comeback , based on our 1H time frame chart buyers managed to breakout with confirmation from the descending resistance trendline with a beautiful retest along with a good buying volume pressure, in order to keep the momentum running upward buyers should reclaim support 0.258$ ~ 0.2667$ a lot of long positions are sitting there ( demand zone ) , also 200EMA acting as dynamic resistance was broken , we might see a small pullback then buyers will take the price higher towards resistance levels 0.2753$ - 0.2930$ - 0.3200$ progressively.
- Meanwhile we should pay attention at the critical local support 0.258$ , buyers should maintain the price above it in order to take the trend upwards , i would watch the closing candle on 4H or 1D close.
Good luck Traders!
- Please push the like button if you like the content or drop a comment to share your idea!
- As seen on the chart GALA made a perfect comeback , based on our 1H time frame chart buyers managed to breakout with confirmation from the descending resistance trendline with a beautiful retest along with a good buying volume pressure, in order to keep the momentum running upward buyers should reclaim support 0.258$ ~ 0.2667$ a lot of long positions are sitting there ( demand zone ) , also 200EMA acting as dynamic resistance was broken , we might see a small pullback then buyers will take the price higher towards resistance levels 0.2753$ - 0.2930$ - 0.3200$ progressively.
- Meanwhile we should pay attention at the critical local support 0.258$ , buyers should maintain the price above it in order to take the trend upwards , i would watch the closing candle on 4H or 1D close.
Good luck Traders!