Technical Overview Of GALA Crypto Price
The GALA price had been doing great until March 10th 2024, when the price was rallying and reached $0.085. But the price was not able to hold on to its gains and plunged by folllowing declining trendline.
However, the GALA crypto formed a support at $0.0400 and has been consolidating in a darvas box range. The range signifies that the bulls are holding the key support, and bears are desperately trying to breach the support. But, bears are not that strong to break the support level of $0.0400. This could be a major sign of a comeback as the price needs a push to break the declining trendline and aim for 50% growth on the daily chart.
Indicator Analysis And GALA Price Forecast
The GALA asset price is demonstrating upward momentum as it keeps above major 50-day and 200-day EMA's. Similarly, the asset is trying to become bullish strength, as the histogram is growing 0.000395, and the RSI is above 50, at 56.87, implying that the GALA asset is in a positive territory and can push further up.
An analyst Bitcoinmeraklsi posted an optimistic tweet on X platform, that all eyes are on GALA, and a bullish reversal could be triggered out of this darvas box consolidation. He further stated that the chart looks bullish if BTC gives support, that is, at least if there is no decline from BTC, it would break the decline soon.
Overall, the GALA crypto looks ready for a massive surge ahead, as it builds up strength by consolidating in the Darvas box sideways range. Once breached the price could potentially blast through the barrier and skyrocket to new levels from the current demand zone.
At press time, the GALA crypto is experiencing a surge of 0.76% in the last 24 hours, trading at $0.04764. Therefore, if the demand for the asset remains high, the GALA asset price could bounce back from the current level. The next target for the GALA price is to reach $0.0700, and $0.0850.
However, if the GALA crypto asset price fails to stay above the $0.000 level, it could decline further.
The GALA price had been doing great until March 10th 2024, when the price was rallying and reached $0.085. But the price was not able to hold on to its gains and plunged by folllowing declining trendline.
However, the GALA crypto formed a support at $0.0400 and has been consolidating in a darvas box range. The range signifies that the bulls are holding the key support, and bears are desperately trying to breach the support. But, bears are not that strong to break the support level of $0.0400. This could be a major sign of a comeback as the price needs a push to break the declining trendline and aim for 50% growth on the daily chart.
Indicator Analysis And GALA Price Forecast
The GALA asset price is demonstrating upward momentum as it keeps above major 50-day and 200-day EMA's. Similarly, the asset is trying to become bullish strength, as the histogram is growing 0.000395, and the RSI is above 50, at 56.87, implying that the GALA asset is in a positive territory and can push further up.
An analyst Bitcoinmeraklsi posted an optimistic tweet on X platform, that all eyes are on GALA, and a bullish reversal could be triggered out of this darvas box consolidation. He further stated that the chart looks bullish if BTC gives support, that is, at least if there is no decline from BTC, it would break the decline soon.
Overall, the GALA crypto looks ready for a massive surge ahead, as it builds up strength by consolidating in the Darvas box sideways range. Once breached the price could potentially blast through the barrier and skyrocket to new levels from the current demand zone.
At press time, the GALA crypto is experiencing a surge of 0.76% in the last 24 hours, trading at $0.04764. Therefore, if the demand for the asset remains high, the GALA asset price could bounce back from the current level. The next target for the GALA price is to reach $0.0700, and $0.0850.
However, if the GALA crypto asset price fails to stay above the $0.000 level, it could decline further.