$GALA ($GALA A) Market Update: Wave A Concluded, Now Eyeing Wave B Movement šŸ§šŸ§

Gala ($GALA A) is currently navigating through a corrective phase, and recent price action suggests that Wave A of the A-B-C structure has now been completed. This wave, consisting of five impulsive sub-waves, has reached key price targets outlined in previous analyses. The end of Wave A aligns with a significant reversal zone, primarily between the 0.618 and 0.65 Fibonacci levels, an area where the price often tends to bounce. Additionally, the completion of Wave A was marked by a swing failure pattern (SFP), which commonly signals a potential reversal upward. However, to confirm this move, itā€™s crucial for the price to maintain support around $0.03441, a historically strong level.

Turning our attention to Wave B, the structure remains unclear, and while itā€™s uncertain whether it will follow the standard corrective Zig-Zag pattern, this remains the base assumption for now. Wave B typically retraces to the 0.50 Fibonacci level, with a price target around $0.03866. This zone carries strong confluence, including alignment with a prior point of control and proximity to weekly resistance at $0.03944, which may present a significant barrier. Additionally, the exponential moving averages (EMAs) in this region are expected to converge, further strengthening the resistance, and potentially concluding Wave B before the start of Wave C.

Looking further ahead, the focus shifts to Wave C, where the target for the next leg down remains around the 0.786 Fibonacci level at $0.02794. The broader A-B-C correction setup on the weekly chart suggests this target is highly probable. The depth of Wave A suggests a retracement to the 0.786 level could be reasonable, especially with the ongoing weakness in Bitcoin. If Bitcoin revisits levels below $87K, this could serve as a catalyst for dragging Gala down to these lower levels.

Overall, the current market dynamics, including the persistent dominance of Bitcoin, strengthen the case for a deeper pullback, aligning with the expectation of Wave C reaching the $0.02794 target. As the broader market shifts, particularly with Bitcoin dominance potentially waning, we could see a more favorable environment for altcoins, and the anticipated correction in Gala may set the stage for future opportu

nities.

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