šØĀ GALA/USDT Analysis: A Breakdown in SightĀ šØ
On the 4-hour chart,Ā GALA/USDTĀ is painting a example of aĀ contracting rising wedge a bearish continuation pattern that signals potential downside momentum. Currently, the price is trading far from the channelās support line, indicating weakening bullish strength within the wedge structure.
Despite several attempts, GALA has failed to break upward from this pattern, further reinforcing bearish bias. The current position is a clear warning sign, a sharp retracement back to theĀ key support levelĀ is looming. If this support line breaks, expect aĀ cascade of selling pressureĀ as the wedge completes its bearish breakdown.
šĀ GALA/USDT: Overbought Signals Flashing Red šØ
TheĀ RSI Divergence IndicatorĀ is throwing up some critical warning signs on the 4-hour timeframe. Currently, the RSI sits atĀ 78, clearly in theĀ overbought zone a level that historically signals an imminent shift toward aĀ downtrend. Any RSI value above 70 is a red flag for potential weakness, as the asset struggles to sustain upward momentum.
Adding fuel to the bearish case, another RSI is hovering aroundĀ 62, which indicates fading strength as buyers begin to lose control. This divergence between price action and momentum is a classic setup for aĀ trend reversal.
š„Ā What Does This Mean for GALA?
Overbought conditions combined with weakening RSI divergence strongly suggest that aĀ downward move is highly likely. The rising wedge pattern we previously analyzed aligns perfectly with this bearish narrative, making the case for a steep decline even stronger.
šØĀ Market Update: GALA/USDTĀ šØ
GALA/USDT is currently hovering nearĀ $0.38, a critical level where substantial liquidity is concentrated. This analysis highlights a key observation: liquidity often acts as a magnet, pulling the price toward these zones.
Given the structure and current momentum, aĀ bearish moveĀ seems imminent, with the price likely targeting this liquidity cluster. For traders, this is a pivotal moment to monitor:
Resistance: Potential sell walls or rejection zones above $0.38.
Support: The liquidity level at $0.38 could offer short-term reactions before further downside.
This setup aligns perfectly with the broader bearish market sentiment for GALA.
Signal Type : Short
Entry: 0.03892 or market price
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1st Tp: 0.03724
2nd Tp: 0.03687
3rd Tp : 0.03576
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