$GALA argggghhh... 🚀😤 🤩🚀

$GALA Based on the GALA/USDT chart on the 4-hour timeframe, here’s the analysis and strategy for the next 12 hours:

Technical Analysis

1. Moving Averages (MA):

The MA(7) is above the current price, while the MA(25) is slightly below, indicating selling pressure that is pushing the price below the MA(7) and approaching the MA(25). This could signal a potential further drop if the price fails to hold above the MA(25).

If the price breaks above the MA(7) again, it could indicate a short-term bullish reversal.

2. Relative Strength Index (RSI):

The RSI is around 46, which is neutral or slightly bearish. This shows that the price is not yet in the oversold zone, meaning there is still room for a further drop before a potential rebound.

3. MACD (Moving Average Convergence Divergence):

The MACD histogram is red, indicating bearish momentum. If the MACD line remains below the signal line, it could reinforce the downtrend, so it’s advisable to wait for a clearer bullish signal before entering a buy.

4. Volume:

Trading volume has been decreasing, indicating a lack of buyer support. If volume increases during an upward price movement, it could confirm a trend reversal.

Buy Entry Strategy

Entry Point: Consider a buy entry if the price breaks and holds above the MA(7) (around 0.02701) or after a strong bullish candle confirmation.

Stop Loss (SL): Place the stop loss slightly below the nearest support level or below the 24-hour low (around 0.02538) to minimize risk if the price continues to drop.

Take Profit (TP): Consider a target around 0.028 or higher, depending on the momentum if the price moves upward.

Note

The crypto market is highly volatile, and rapid changes can occur. Monitor price movements closely and adjust the strategy as needed based on market developments.