- The GALA token price approaches an ascending resistance trendline in the 4-hour chart.
- The GALA/BTC pair trades at 0.00001279 BTC with a gain of 68.56%.
- The 24 -hours volume of the token is $6.86 Billion, indicating a 250% rise.
Since the sudden rise in the price, the GALA token has been making continuous bullish engulfing candlesticks. The uptrend approaches the ascending resistance trendline in the 4-hour chart. Traders can find the breakout of the trendline as an entry opportunity.
With the token price showing increased bullish momentum, the price breaks multiple resistance levels. Hence, the coin price may soon reach the $1 mark.
The GALA price shows a rising bullish trend as the price breaks above all of the crucial EMAs 20, 50, 100, and 100 in the 4-hour chart.
The token price shows a rising bullish momentum; however, the pivot point indicates resistance levels at the $0.95 and $1.20 mark as the price shows a bull run. Moreover, on the flip side, the support level is at $0.31 after the $0.55 mark.
Will The GALA Token Price Reach The $1 Mark?
As we have already mentioned, the GALA Token has been rising higher in the daily chart for more than a week. And the recent gain in the bullish momentum can help the price reach the $1 mark upon the resistance trendline breakout.
The RSI indicator indicates a rise for underlying bullishness as the slope rises above the 70% mark.
Conclusion: From a technical perspective, the GALA token indicates an uptrend in action, and therefore to ride this directional move, the crypto traders have to wait till the price breaks out resistance trendline.
Support – $0.55 and $0.31
Resistance – $0.95 and $1.20