bearish territory with a slight bullish cross
**GALA's** price performance was strong until early March 2024, peaking at $0.086279. However, it struggled to maintain these gains, with the bullish trend failing and the price forming lower lows amid a declining trendline.
Efforts to sustain gains were evident as GALA price formed a support level at $0.0384 following a liquidity grab on April 13, 2024. For nearly two months, the price consolidated within a Darvas box range in an attempt to surge.
However, on June 7, 2024, the support was lost following a significant sell-off from the upper boundary of a wedge formation, which coincided with the 50-day and 200-day EMA bands.
The breakdown of the Darvas box indicated a loss of critical support for the bulls. This resulted in a sharp decline of over 75% from the ATH of 2024, as the price fell within a narrowing wedge.
Currently, **GALA crypto price** is forming a dynamic falling wedge. A key level to watch is $0.02686, which could be pivotal for a potential rebound and Change of Character (CHoCH).
## **Can GALA Turn Bullish?**
Despite these challenges, the **GALA** chart displayed a liquidity grab on August 5, 2024, at a dual support zone, aligning with the historical demand zone and the lower border of the dynamic wedge.
Despite the attempt to rise, the bears remained dominant and kept the price beneath the wedge's upper border. The **GALA** last month's increase remained 40% only.
The 20-day and 50-day EMA bands are posing significant obstacles that could impede further gains. However, once it pierces them, the situation might flip.
## **Indicators of GALA**
MACD Remains in the bearish territory with a slight bullish cross. The MACD line is at -0.00022553, and the histogram is at 0.00005522.
RSI Stands at 49.64, closer to the median of 50, but shows recovery from oversold conditions, hinting at possible opportunities for a rebound.
## **Levels To Watch For**
Per the GALA price prediction, support levels are at $0.012533 and $0.016055. While, resistance levels are at $0.026864 and $0.038141.
Efforts to sustain gains were evident as GALA price formed a support level at $0.0384 following a liquidity grab on April 13, 2024. For nearly two months, the price consolidated within a Darvas box range in an attempt to surge.
However, on June 7, 2024, the support was lost following a significant sell-off from the upper boundary of a wedge formation, which coincided with the 50-day and 200-day EMA bands.
The breakdown of the Darvas box indicated a loss of critical support for the bulls. This resulted in a sharp decline of over 75% from the ATH of 2024, as the price fell within a narrowing wedge.
Currently, **GALA crypto price** is forming a dynamic falling wedge. A key level to watch is $0.02686, which could be pivotal for a potential rebound and Change of Character (CHoCH).
## **Can GALA Turn Bullish?**
Despite these challenges, the **GALA** chart displayed a liquidity grab on August 5, 2024, at a dual support zone, aligning with the historical demand zone and the lower border of the dynamic wedge.
Despite the attempt to rise, the bears remained dominant and kept the price beneath the wedge's upper border. The **GALA** last month's increase remained 40% only.
The 20-day and 50-day EMA bands are posing significant obstacles that could impede further gains. However, once it pierces them, the situation might flip.
## **Indicators of GALA**
MACD Remains in the bearish territory with a slight bullish cross. The MACD line is at -0.00022553, and the histogram is at 0.00005522.
RSI Stands at 49.64, closer to the median of 50, but shows recovery from oversold conditions, hinting at possible opportunities for a rebound.
## **Levels To Watch For**
Per the GALA price prediction, support levels are at $0.012533 and $0.016055. While, resistance levels are at $0.026864 and $0.038141.
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