This bull flag target and then slightly above that is the double bottom breakout target. Price action seems to already climbing up the measured move line of the double bottom breakout so that’s a good sign that a breakout could get validated soon. Could definitely still correct back below the double bottom neckline once or twice first though if the bitcoin...
Gala being an OG in the gaming sector has had some rough internal issues. having said that i can still see something like this playing out longer term.
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...
Hi Traders
GALAUSD (Daily Timeframe)
Waiting for the upward break of 0.0165 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 0.0123 would cancel the bullish scenario.
Trade details
Entry: 0.0165
Stop loss: 0.0123
Take profit 1: 0.0193
Take profit 2: 0.0237
Score: 6
Strategy: Bullish reversal
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 is testing today the 1D MA50 for the first time in two months on a green technical 1D outlook (RSI = 60.296, MACD = -0.001, ADX = 46.201). Being through all 2023 inside a Channel Down similar to 2022, we can argue that the next 1D MA50 cross over (like the 1W RSI cross over the MA line) can provide a rally similar to January's. That will be our trigger...
Gala is trading inside a Channel Down every since the market top early this January and today the 1D technical outlook turned neutral (RSI = 46.626, MACD = -0.001, ADX = 48.052) as it is trading on the strongest 1D green candle since March. The 1D RSI bullish divergence (HL) shows a short term momentum shift and the price can now target 1D MA100 and the top of the...
About GALA
Category
Gaming
Contract
Ethereum
0xd1d...87cae
Website
gala.com
Explorers
etherscan.io
Community
blog.gala.games
GALA is the native token of Ethereum-based gaming ecosystem Gala Games. It’s earned as a reward for playing games on the ecosystem and is used for staking to secure the network. GALA token also powers the platform’s store, where users...
3 "Ifs" to the biggest trade of your life:
If #1 is unknown: If Gala finds support here at historic support level
If #2 has a high probably of happening: If Gala is relevant in the future (dozens of games in production, should be relevant next bull run)
If #3 high probability: If there is another bull run, at some point.. and if gaming is a leading sector...
I don't know if you've been reading everything I publish or you only read a few; you should read everything.
Most of the Altcoins breaking bullish, such as Shiba Inu, Orchid and Api3 to mention some recent ones, have been producing the same consolidation pattern.
I mention this because if they are producing the same pattern it means they are behaving in the same...
📈 #GALAUSDT is forming a promising Falling Wedge pattern on the chart, signaling a potential bullish reversal! 🚀
📉 The price has been creating lower highs and lower lows, shaping the falling wedge pattern. This suggests a period of consolidation and diminishing selling pressure.
🧩 Falling wedges often lead to upward breakouts, indicating a potential trend...
GALA/USD is sitting at a deep 88% retrace currently and if can begin to take out previous local highs around 0.026, that could give it the juice it needs to see the daily bullish divergence on the MACD play out.
If so, a target of 0.042 near the value area high of the volume range I have shown would be in the cards.
A stop loss would be just below 0.018.
GALA looks like a very simple Impulse, correction, impulse.
We've recently broken out of the year long correction with a nice impulse.
We are now in an ABC correction which appears to be held within a parallel descending channel. We've seen both waves A and B and we are currently in wave C.
See chart update for lower timeframe analysis.
Trade Idea:
- For a...
