Gala (GALAUSD) has hit both targets (0.06200 being the last) since our last call (October 26 2023, see chart below) and has established itself above the 0.382 Fibonacci retracement level:
All MA periods have turned into Support levels, obviously the 1D MA50 (red trend-line) is the closer (short-term) one and a Higher Highs trend-line poses as the Resistance....
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...
Gala (GALAUSD) is trading within a Channel Down pattern since early January and recently got rejected on the 1D MA50 (blue trend-line). Despite the declining trend, the 1D RSI is on Higher Lows, i.e. a strong Bullish Divergence.
The Lower Highs trend-line has been broken, and the previous two times it did so within the Channel Down after a bearish leg, a...
GALAUSD has comfortably established trading above the 1D MA200 (orange trend-line) ever since the January 09 break-out. It has long broken above the November 26 2021 Lower Highs trend-line, that was practically the trend-line that dictated the whole Bear Cycle and is officially (having made a Higher High as well) entered into the new Bull Cycle territory.
The...
Gala (GALAUSD) has been trading within a Channel Down since the November 26 2021 High. The 1D MA50 (blue trend-line) has started to turn sideways but is still untouched since April 06. The 0.050 Support is holding on a potential Double Bottom formation but the strongest bullish sign comes from the 1D RSI which has been on Higher Lows while the price action has...
Gala (GALAUSD) is having the strongest 3 day rise (more than +270%) since it first started trading. The bounce came very close to the 2.0 Fibonacci extension from the first Low of this correction in January 22 2022.
However this is not enough technically to restore the long-term bullish trend and start a new Bull Cycle. In order to do so, Gala has to break the...
