The seemingly neglected GALA appears to be starting to gain momentum.
Viewpoint: Bullish in the long term, can deploy small funds for spot trading.
From an overall perspective, the GALA token has fallen from the last bull market high of $0.84 to the current $0.05, a 100% drop over three years. After a long period of consolidation and washing out, the price has once again risen above three moving averages. The current price is at the bottom of the Fibonacci 0.236 level, which is the most cost-effective position. If it rises to the Fibonacci 0.786 position, there will be a potential for a tenfold increase, and if it breaks the previous high, there could be about a fifteenfold return.
Recent candlestick patterns show significant volatility, with a long lower shadow on December 9, indicating strong buying support at low levels.
From December 8 to December 11, the highs gradually decreased, forming a short-term downward trend, but a bullish candlestick on December 11 may signal a rebound.
Technical Indicators:
MACD forming a death cross shows a slight advantage for bears, but the gap is not large; need to pay attention to subsequent changes.
RSI: Current RSI is 58.46, in a neutral to bullish area; previously entered the overbought zone (above 80), now has retreated to a relatively stable state.
Moving Averages: Price has fallen below the yellow 20-day moving average three times but remains above the 60 and 120-day moving averages; short-term is under pressure, but the medium to long-term outlook remains bullish.
Trading Volume:
On December 9, trading volume reached 3,112,454,763, a recent high, then decreased, indicating reduced market activity.
On December 10 and December 11, trading volume continued to remain high, indicating reasonable market participant enthusiasm.
[Long-term Accumulation Position]
Buy Point One: 0.04500 USDT (Reason: Close to previous low, may have strong support)
Buy Point Two: 0.04250 USDT (Reason: Last low point)
It is recommended to hold small amounts of spot for the long term and take partial profits in batches as the bull market matures.
[Short-term Buy and Sell Points]
Buy Point One: 0.04500 USDT (Reason: Close to previous low, may have strong support)
Buy Point Two: 0.04250 USDT (Reason: Last low point)
Long Stop Loss Point: 0.04100 USDT (Reason: Important integer level after breaking Buy Point Two; if lost, the trend weakens)
Sell Point One: 0.05500 USDT (Reason: Close to recent high, may encounter selling pressure)
Sell Point Two: 0.05800 USDT (Reason: After breaking the previous high, market sentiment may push the price further up)
Short Stop Loss Point: 0.06000 USDT (Reason: Exceeds the integer level of Sell Point Two; if broken, bullish outlook)
$GALA (Contract)
$GALA (Spot)