GALA/USD Stays Bearish After Gaining 4.05% 

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.



GALA/USD price action has increased by 4.05%, yet the price movements of this crypto appear bearish despite the gains. Technical indicators used in analyzing this market, are also indicating more bearish price movements. may be witnessed in this market. Let’s zoom in for a closer look.

GALA Analysis Data
GALA Value Now: $0.02732
GALA Market Cap: $191M
GALA Moving Supply: 6,977,205,436
GALA Total Supply: 24,011,895,724.18
CoinMarketCap Ranking: 142

Major Price Levels:
Top: $0.02732, $0.02800, and $0.02850
Base: $0.02700, $0.02650, and $0.02600

GALA/USD Stays Bearish After Gaining 4.05% 

GALA/USD May Fall to Towards Lower Support Levels

The GALA/USD Price action seems to have been trending downward since the 21st of April. Ever since then, price action has been retracing lower support levels during the last trading session. At this point, price action tested the Fibonacci Retracement level of 100 as a support, and then an upside rebound resulted in the ongoing session. This suggests that price action may have reached a strong support level, from which it may correct in the upward direction. However, trading indicators seem to suggest a contrary opinion. The lines of the Relative Strength Index (RSI) have continued to descend into the oversold region. Meanwhile, a tiny red bar has just appeared below the equilibrium level to indicate that downward momentum may still be developing in this market.

GALA/USD Stays Bearish After Gaining 4.05% 

GALA/USD Shows Potential for Extending Upside Gains

The GALA/USD 4-hour market further reveals that buyers have been recording minimal profits in this market. For about six sessions here, price action has been correcting upwards towards the $0.02800 price mark. In addition, trading indicators are foretelling that prices may keep rising as bullish momentum increases. The RSI curves are now trending upwards, while the MACD indicator lines are also closer to each other at this point. In addition, the MACD is revealing that bears are losing strength and may give way for more bullish traders to take prices higher. Therefore, it seems fair enough to expect a retracement of the $0.02800 mark.

Buy GALA on eToro

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *