Based on the attached image of GALA/USDT analysis:
1. Current price: $0.03633, down 6.65%.
2. General trend:
The trend shows a strong downward movement after the previous rise that reached a peak at $0.06658.
The exponential moving average (EMA) at different periods (7, 25, 99) confirms the downward trend.
3. Technical indicators:
Relative Strength Index (RSI): value 30.71, indicating that the currency is approaching the oversold zone, which may mean a possible rebound soon.
MACD: indicates a negative crossover and continued selling pressure.
4. Support and resistance levels:
Main support at $0.03305.
Main resistance at $0.04979.
5. Additional notes:
If the selling pressure continues, the lower support levels may be tested.
If the price bounces from the oversold areas, we may see an attempt to retest the resistance at 0.04979.
Recommendation:
If you are holding the currency, you should watch the support level at 0.03305. If it is broken, you may head to lower levels.
If you are thinking of buying, you can wait for confirmation of a bounce from the oversold areas or exceeding the resistance at 0.04979.
Please study the currency carefully before buying or selling