$GALA GALA Coin (22/12)

📌 Thanks to God, we had noted in the previous post that breaking the trend indicated in red would support further decline as we expected to reach 0.03394 and the price reached it and exceeded it.

📌 The current situation is that we are witnessing a corrective decline from the last peak at 0.06658 in an attempt to test the support at a price of 0.03394-0.02962 and this area is considered a pivotal area as it constitutes great support on the daily frame and the 4-hour frame and it is currently considered below the ascending channel whose features have begun to form and it is also below the descending sub-channel and this area will support the rise to 0.04112 and this is a resistance area currently and by breaking it the price will try to test 0.04824 and then test the 0.05942 area.

📌 The other scenario is if the price stabilizes below 0.03394-0.02962, then this stability cancels the ascending price channel and will go to test the 0.02642 area, which converges with the 0.78 Fibonacci area, which is not very reliable.