GALA Technical Analysis: Consolidation and The Target Of $0.38
In this case, investors should prepare for the GALA cryptocurrency test of $0.11. This is the only and closest liquidity level where the common interest of buyers can maximize. However, to sow panic and approve these words as the main scenario is a little early. At the time of writing, sellers have not taken control of the $0.2 mark. Keeping this mark on the weekly timeframe will form a triangular consolidation with a breakdown upwards and a $0.38 test. So while buyers control $0.2 - there is now a good opportunity for a medium-term investment in GALA with low risks and a probable return of 90%.
Technical Analysis Of GALA On The Daily Timeframe
Analyzing the movement of the GALA price on the daily timeframe, we can see a systematic decrease in trading volumes both in local growth waves and in fall waves. At the same time, starting from February 2022, local lows and highs have stopped being updated. This is a clear example of the beginning of consolidation within the triangle, which so far erases the negative scenario in the GALA market.
So far, we are not concentrating on breaking the $0.2 mark (except that it is false) and continuing to fall to $0.11. In the daily timeframe, the liquidity zone looks narrower and its center is at $0.184. In fact, sellers have not yet tested this mark and by the end of the week, we expect that the price will be in this range. It is near the $0.184 mark that you can risk buying this cryptocurrency with minimal risks and with the first local target of $0.255. This target is within the consolidation triangle and will give the investor about 40% profit. The risk of such an investment is 7-9%.
The GALABTC Price Is At The Limit
The weekly GALABTC price timeframe can frighten both buyers and sellers. On the one hand, sellers are trying to break the important liquidity range of 0.00000527. This range keeps the price from January 2022. The loss of this range will continue the correction of the GALABTC price within the black correct channel and will open the way to the target of 0.00000260.
On the other hand, sellers are also worried, because the price is too close to the upper limit of the fall channel. In addition, consolidation is taking place near this trend line. A price shot up will definitely start a powerful growth wave with the first target of 0.00001240. Therefore, at maximum stress, you should wait for the losing side. A false breakdown of one of the critical points on the GALABTC chart will be an active signal for action. Otherwise, you should try to carry out operations within the consolidation range and do not expect the price to go out of it in the near future.