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GALA Price Analysis: GALA Token Price Shows Reversal, Is It Too Late To Buy?

  • The GALA coin price action shows bearish retracement after a spectacular bull run in the 4-hour chart.
  • The GALA/BTC pair trades at 0.000006756 BTC with a rise of 6.72%.
  • The 24 -hours volume for GALA coin is $3.16 Billion, indicating a 10% fall.

The GALA coin price action shows reversal from the $0.47 mark in the 4-hour chart. However, the bull run of more than 200% in the pasat three days showcases a solid uptrend. Hence, the retracement is an excellent dip to buy.

The GALA price shows a bullish trend, with its price trading higher than a all the crucial EMAs 50, 100, and 200. Moreover, the chart shows the EMAs ready to provide support to the retracement in the 4-hour timeframe.

The coin price shows higher price rejection; however, the price action indicate support levels at the $0.36 and $0.27 mark if the price retraces back. Moreover, on the flip side, the resistance levels are at $0.47. 

Will The GALA Coin Price Surpass The $0.50 Mark?

As we have already mentioned, the GALA coin’s price is showing hipricgher e rejection resulting in the bearish retracement to the $0.36 mark. However, the decrease in trading volume indicates a fall in underlying bearish sentiments.

As of press time, the coin’s price is $0.4002. There has been a increase in value of 9.85% during the past 24 hours. GALA’s intraday trading volume also fell by 10%.

The RSI indicator indicates a rise for underlying bearishness as the slope fall from the overbought zone. The price action is consistent with the slope and enters the “nearly overbought”. The RSI indicator, therefore, gives a buy signal.

MACD indicators show that the MACD indicator is moving above the signal line, which is in a bullish alignment in the 4-hour chart. These lines are located above the centerline. This creates a buy sign.

Conclusion:  From a technical perspective, the GALA coin shows higher price rejection, evident by the bearish engulfing candlestick in the 4-hour chart. And, the price action shows higher chances of a uptrend surpassing the $0.50 mark in the near future after retesting the $0.36 mark.

Support – $0.36 and $0.27

Resistance – $0.47

Categories: News
Antonio K Smith: Antonio is a travel photographer by profession and came across the Crypto world during his profession. Since then his love, knowledge and interest towards the technology have increased. He brings his passion to create in his articles.