A descending trendline initiated in early April carried a significant correction rally for គូ GALA/USDT. As a result, the coin holders lost significant support levels and reached a low of $0.048. However, a fakeout from the last support breakdown of $0.075 has increased the bullish tension and may kickstart a recovery rally.
ចំណុចសំខាន់:
- The descending trendline offers dynamic resistance to GALA price
- The intraday trading volume in the GALA is $1 Billion indicating a 50% gain
ប្រភព - ជួញដូរ
On April 6th, the GALA price broke down from the ascending support trendline, carrying the last quarter’s recovery rally. However, the renewed selling pressure trigged a steady downtrend, piercing through multiple support levels one after another.
Furthermore, the GALA price had recently breached the $0.074 support level, indicating that the sellers are preparing for further downfall. Over the past six weeks, the GALA price tumbled by 83% and has marked its current low at $0.0487.
However, the sellers failed to sustain the GALA price below the $0.07 mark, resulting in a support fakeout. This bear trapped punished the aggressive seller who took the breakdown entry, and their forced liquidation fueled today’s price jump.
Currently, the GALA price trades at the $0.099 mark, displaying a 45.6% intraday pump. If buyers continue to push the price higher, the altcoin will retest the aligned support of the descending trendline, 20-day EMA, and $0.13 level.
However, until the resistance trendline is intact, the altcoin will continue to bleed and may drop below $0.078.
Conversely, the buyers would breach the dynamics resistance under an unexpected bullish scenario, triggering a potential recovery rally.
សូចនករបច្ចេកទេស
The Daily-RSI slope escaped from the overbought region bolsters the recovery theory.
However, a bearish sequence among the declining EMAs(20, 50, 100, and 200) indicates the potential rally would face multiple resistance ahead.
- កម្រិត Resistance - $0.13 និង $0.165
- កម្រិតគាំទ្រ - 0.074 ដុល្លារ និង 0.05 ដុល្លារ
ខ្លឹមសារដែលបានបង្ហាញអាចរាប់បញ្ចូលទាំងគំនិតផ្ទាល់ខ្លួនរបស់អ្នកនិពន្ធនិងស្ថិតក្នុងស្ថានភាពទីផ្សារ។ ធ្វើការស្រាវជ្រាវទីផ្សាររបស់អ្នកមុនពេលវិនិយោគលើគ្រីបគ្រីប។ អ្នកនិពន្ធឬការបោះពុម្ពផ្សាយមិនទទួលខុសត្រូវចំពោះការបាត់បង់ហិរញ្ញវត្ថុផ្ទាល់ខ្លួនរបស់អ្នកទេ។
Source: https://coingape.com/markets/gala-price-prediction-0-075-fakeout-triggers-a-potential-recovery/