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The Gala V2 price action has taken a big leap off significant technical support. This sudden leap saw the token trading at an eight-month high. Meanwhile, signs emanating from technical indicators still support more possible price increases shortly.
Key GALA Statistics:
Current Gala V2 value: $0.03574
GALA Market Cap: $933,872,307
GALA Circulating Supply: 26,933,512,339 GALA
Gala V2 Total Supply: 28,962,672,475 GALA
GALA CoinMarketCap Ranking: 75
Key Price Levels:
Resistance: $0.03574, $0.03600, and $0.03700
Support: $0.03500, $0.03400, and $0.03300
Gala V2 Pokes Through the $0.03574 Price Mark
There has been a sudden but notable price increase in the GALA daily market. This saw the token now trading at an eight-month high, above the $0.03500 mark. The last price candle on this chart appears quite long, standing above the 21-day Moving Average (MA). Meanwhile, we can see that this candle has an upper shadow below and above it.
This shows that the market may be facing some tense moments between upside and downward forces. At the same time, the Moving Average Convergence Divergence (MACD) indicator lines have delivered an upside-facing crossover above the equilibrium level, suggesting prices may climb higher subsequently.
GALA Appears to keep Acquiring Higher Support Levels
Through careful inspection of price movement in the Gala V2 4-hour market, it can be seen that price action has kept on acquiring higher support levels since the 18th of this month. However, the support found at $0.03039 seems to have delivered the most significant upside correction. This market has retraced the $0.03669 resistance price mark from the mentioned support level.
However, it can also be seen that a long upper shadow has appeared above the last price candle. Consequently, this suggests that there has been a downward correction, though minimal at this point. This occurred shortly after price action tested the $0.03779 resistance. Meanwhile, the MACD indicator lines are still suggesting that bullish momentum is intact. Therefore, this suggests that this market may approach the $0.03800 mark.
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