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Price volatility has reduced in the Gala V2 daily market, which has been the norm for a while now. Price activity in the market can be seen to be rising very slightly over an extended period, making the price increases almost unnoticeable. The token recorded another minimal 1.88% price increase today. Let’s take a closer look at the market below.
Gala V2 Statistics:
Gala V2 Price: $0.02369
GALA Market Capitalization: $834.95M
GALA Circulating Supply: 35.65B
GALA Total Supply: 37.67B
Gala V2 CoinMarketCap Rank: 80
Gala V2 Price Consolidates After Hitting Resistance
Price movement in the GALA/USDT daily market recently rebounded off the middle limit of the Bollinger Bands. However, the upside rebound subsequently met resistance at the uppermost limit of the Bollinger Bands. This brought the market to consolidation, hovering just below this part of the technical indicator.
The ongoing session is bearish, indicated by the appearance of the corresponding price candle. Additionally, the lines of the Relative Strength Index are now pointing downward from the oversold region. Given the momentum, we may see further downward retracement of price action. However, the middle limit of the Bollinger Bands may still offer a strong base of support.
GALA Upside Rebound Set to Recover Key Support Level
In the Gala V2 4-hour market, we ew session has begun, and it appears bullish just below the middle Bollinger Bands. Meanwhile, the Stochastic RSI lines are rising upward but remain below the middle limit of the Bollinger Bands.
The leading Stochastic RSI lines are already testing the 50 mark of the indicator. If upward momentum persists, the session may proceed past the resistance posed by the middle Bollinger Bands. Bullish crypto signals may be useful here, as prices may increase past the $0.02500 threshold and toward the $0.02600 price level.
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