A few days ago, a follower asked me to comment on GALA.
First, sorry for responding this late. At times, I intentionally delay my chart analysis simply because I need more time. A good candle needs to close to exact a spot on technical analysis.
So now, let's proceed.
SHORT TERM FORECAST 👇
After the recent altcoin fall, GALA is already showing signs of recovery and is now trading at 0.027. In the 1H chart a bullish double bottom has formed and candles are hovering above it. Upside target is the next 1H resistance 0.0298.
If you're into breakout trading, the best position is long, but since BTC Dominance is soaring high, make sure to set a stop loss at 0.0269.
LONG TERM FORECAST
Chart patterns are absent in the 1D and 1W chart. However the weekly KDJ stochastic oscillator detected FOMO volume at 0.08. This means, price will still go back to the 0.08 zone and probably go beyond it in the comming weeks or even months.
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