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$GALA Currency Recommendations
General trend
The general trend shows a gradual decline after the price rebounded from the low at 0.04050, then failed to break the resistance level at 0.06658.
Current price: 0.04893
24-hour decline: -5.34%
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Moving Averages (MA)
MA(7): 0.04932 🟡 -> Close to the current price and acts as a short-term resistance.
MA(25): 0.05079 🟠 -> Medium term resistance.
MA(99): 0.05015 🔵 -> Long-term average reinforces the downtrend.
Conclusion: The price is trading below the three averages, which confirms the continuation of selling pressure.
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Technical indicators
1. Relative Strength Index (RSI)
Current value: 29.56 🟡 -> Oversold which may lead to a possible bounce.
2. Stochastic RSI
Values:
K: 29.76
D: 25.66
The indicator is in the oversold zone but is showing weak recovery signals.
3. MACD indicator
DIF: -0.00062
DEA: -0.00045
MACD: -0.00017
Conclusion: The indicator is in a negative mode with a clear bearish momentum $GALA .
4. Williams %R Indicator
Current value: -78.37 🔻 -> Severely oversold, increasing chances of a short-term bounce.
5. Trading Volume (VOL)
Current Volume: 27.5M -> Average trading volume with weak buying activity.
OBV: 5.87B -> Weak momentum suggests continued selling.
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Support and resistance
First support: 0.04821 🟢 (close to current price)
2nd Support: 0.04050 ⚠️ (Previous Major Bottom)
First resistance: 0.04932 (MA7) 🟠
Second resistance: 0.05079 (MA25) 🔵
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Possible scenarios
Positive (corrective) scenario
If the price breaks the resistance of 0.04932 (MA7), it may target:
0.05079 (MA25).
0.05260 as stronger resistance.
Negative scenario (continued decline)
Continuing the decline and breaking the support at 0.04821 will push the price towards:
0.04500
0.04050 (strong support).
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Conclusion and recommendations 📌
Current trend: Bearish with oversold signals on indicators.
Recommendation:
Watch for a break of 0.04932 resistance before making a buy decision $GALA .
Breaking the support at 0.04821 will confirm the continuation of the decline towards 0.04500.
Stop Loss: Below 0.04700 to avoid potential risks.
