$GALA

Hey everyone! I know a few of you follow my ideas, so I thought I'd post this earlier rather than later—because I don't believe Gala's Wave 2 correction is over yet. After analyzing the price action and a few other key factors, I’ve re-evaluated my position, and things are pointing toward a more complex correction.

Corrections Are Like Driving at Night
Predicting corrections is tricky—it’s like driving at night. You plan your destination but can only see a couple of feet ahead at any given time. As the journey unfolds, your view becomes clearer.

Originally, I thought Gala had completed a straightforward ABC correction. But after reviewing Bitcoin's price action, Bitcoin dominance, and Gala's movement today, I believe we’re dealing with a more complex WXY correction.

What Is a WXY Correction?
In simple terms, it’s multiple corrective structures connected by smaller "X" waves:

Wave W: I believe this was Gala's first corrective wave, a zigzag (ABC correction).
Wave X: A smaller corrective wave that connects W to Y.
Wave Y: The next corrective structure, which could take the form of a zigzag, flat correction, or something else entirely.

I have highlighted this on the 4 hourly chart. I believe we have completed Wave W and I’m closely watching price action and looking for a good exit point around the top of Wave X.

Why Do I Think This?
Bitcoin Has More Downside Potential. I believe Bitcoin could revisit its previous ATH of ~73K. If this happens, it will have a significant impact on all altcoins, including Gala. (Check out my BTC idea posted today for more details.)

BTC Dominance Signals Market Weakness
In November, Bitcoin dominance rejected off the 0.618 level—just like it did in 2021. That event led to a 31% correction on Bitcoin, and corrections across the market. This could repeat. (Refer to my BTC.D idea posted today.)

Overbought Stochastic RSI
Many altcoins (including Bitcoin) have an overbought stochastic RSI on the weekly chart with a bearish crossover - illustrated above. This signals bearish momentum and has been a nagging red flag for me.

Timing Aligns with a Complex WXY
If Bitcoin’s correction takes another week or two to play out, it aligns with the possibility of Gala completing a WXY correction. Gala already finished an ABC correction, so this scenario seems logical.

Targets
Here’s what I’m watching for:

Possible exit target for Wave X: Around $0.40–$0.42, I think price will probably baournce off one of the EMA's.

Wave 2 Retracement: Could go as low as $0.17 without invalidating Wave 1 however price targets for Wave Y:

Target 1: 0.786 Fib Level at $0.02760.
Target 2: Weekly Support at $0.02449.

I don't know if this is the actual go, but I felt it prudent to share my thoughts so you can at least have time to decide for yourself.

I am still bullish, if you read my Bitcoin Dominance idea we are definitely looking good for an altcoin season we just need clarity on what Bitcoin is going to do. It really is at a junction point, of either going up or going down
#GALAUSDT #Gala🔥🔥 #Write2earn #USJoblessClaimsFall

$GALA

Technical confirmation of Wave 3 will occur when the price breaks above the Wave 2 high of $0.06649, as shown in the 4-hour chart. Until then, I’ll continue building a bullish case while monitoring price action closely.

Bullish Indicators
To support my analysis, I’m using the daily timeframe as the higher timeframe and the 4-hour timeframe as the lower view. Here's what I'm seeing:

Daily Timeframe

Stochastic RSI: Oversold at 0.41, with the K line on the verge of a bullish crossover with the D line. This signals an opportunity for a potential long setup.RSI: At 40.79, a favorable level for price interest to increase.Fibonacci Confluence: The ABC correction has bounced at the 0.618 Fibonacci retracement level, a strong indicator of a potential reversal.

Note: The Rate of Change (ROC) currently shows bearish momentum at -28.38, likely reflecting the recent price drop. As momentum indicators are lagging, I’ll monitor this closely for a shift upwards as price momentum builds.

4-Hour Timeframe

Stochastic RSI: Oversold at 14.70, with the K line crossing the D line, forming a bullish crossover—an ideal entry signal for a long position.RSI: Oversold at 27.28, with upward momentum signaling a potential short-term price spike, which would align with bullish momentum on the daily timeframe.

Positioning and Price Expectations
I have already bought in to Gala, and this review reinforces my bullish bias. While time will determine if we are indeed in Wave 3, the following price targets are based on traditional Fibonacci extensions and levels illustrated on the daily chart:

Target 1: 1.618 Fib Level — $0.11303
Target 2: Monthly Resistance — $0.13158
Target 3: 2.618 Fib Level — $0.16193

Given that Target 2 (monthly resistance) is slightly above the 1.618 Fib Level, it’s reasonable to expect price to wick toward this level before potentially settling at or below 1.618.

Final Thoughts
The crypto market is notoriously unpredictable, and no one can perfectly predict price targets. However, the levels outlined provide a solid framework for assessing the price movement during Wave 3. With five sub-waves within Wave 3, I’ll reassess and adjust as each unfolds to refine expectations.
#gala #GALAUSDT #Write2EarN! #MarketPullback #ElSalvadorBTCReserve

$GALA

Based on technical factors there is a Buy position in :

📊 GALAUSDT

🔵 Buy Now

🪫Stop loss 0.04300
🔋Target 1 0.05830
🔋Target 2 0.06868
🔋Target 3 0.08888

💸RISK : 1%

We hope it is profitable for you ❤️
Please support our activity with your likes👍 and comments📝
#GalaFundamentals #Write2Earn! #GALAUSDT #BinanceAirdropsCATandPENGU #MarketNewHype