GALAUSDT.5L trade ideas
GALA where is it heading to🤔?Gala is currently undergoing a reversal after forming a head and shoulders pattern. It is possible that this could be a retracement or a trap to entice traders to go long, only to ultimately decline. Nonetheless, I am maintaining a long position on Gala due to a favorable risk-reward ratio.
GALAUSDT 1WI'm bullish on #GALA again. The price is challenging the Horizontal line + Ichimoku cloud and Descending line on weekly chart, which is big timeframe. It is already broke the MA50 and moving above it. That is bullish sign for me. My targets are:
$0.03974
$0.04801
$0.05629
$0.06808
$0.08309
GALA 🔥 #Head&Shoulder #sell Based on the formation of a head and shoulders pattern, it seems probable that Gala will experience a decline in value. As a result, I intend to initiate a short position on this asset, as it appears increasingly likely that a downward movement will occur in the near future.
Elliott Wave on GALAUSDT! A Clear Roadmap for every trader...Greetings trader and investors around the globe
The GALAUSDT price chart indicates a five-wave rally from August to November 2021, followed by a 98.53% crash in approximately 700 trading days.
Since the October 2023 low, there's been a five-wave rally and a three-wave decline, suggesting a potential end to the decline. A break above 0.3505 could confirm this and indicate an upcoming upward trend.
If correct, a significant price increase may occur, with a minimum target around 1.097, aligning with wave A equality at C .
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🚨#GALA/USDT Long#GALA
The price is moving in a descending channel on the 12-hour frame
Now it is about to break that channel upward after testing the downtrend of the channel
We have buying momentum on the MACD indicator
Entry price is 0.02287
The first target is 0.02424
The second goal is 0.02689
The third goal is 0.02965
GALA Growth Spurt: Buy Your Ticket to Profit!"## GALA Coin: Short Fundamentals, Recent News, and Disclaimer
**Fundamentals:**
* **Utility token for Gala Games:** GALA is the primary token within the Gala Games ecosystem, a blockchain-based gaming platform.
* **Used for various purposes:**
* Purchasing NFTs within Gala Games
* Rewards for operating Founder's Nodes
* Network fees on the Gala blockchain (currently in development)
* **Total supply:** 35 billion GALA, with a circulating supply of approximately 6.9 billion.
* **Current price:** $0.027 (as of February 21, 2024)
* **Market cap:** $188 million
**Recent News:**
* **Gala Games launched several new games in beta:** Town Star, Mirandus, and Echoes of Empire are attracting players and generating NFT sales.
* **Gala introduced GalaChain:** A dedicated blockchain for Gala Games is under development, expected to launch in 2024.
* **Partnerships with various gaming companies:** Expanding the reach and potential user base.
**Disclaimer:**
* This information is for informational purposes only and should not be considered financial advice.
* The cryptocurrency market is volatile and past performance is not indicative of future results.
* Do your own research before making any investment decisions.
**Additional notes:**
* GALA's price has been relatively stable in recent months, after experiencing significant volatility in early 2023.
* The upcoming launch of GalaChain could be a major catalyst for the token's price.
* However, the success of Gala Games and its token ultimately depends on the adoption and popularity of its games.
I hope this provides a helpful overview of GALA Coin. Remember, conducting your own research and understanding the risks involved are crucial before making any investment decisions.
GALA is pressing for a break. 0.06 next?Like most Altcoins, BINANCE:GALAUSDT also broke above a falling wedge's resistance in Oct-Nov of last year.
It experienced an initial leg up, followed by roughly a 300% increase, and then underwent a normal correction afterward.
The price halted its decline from the recent high at the 61% Fibonacci level and has begun to rise again, possibly indicating the end of the correction phase.
Currently, the price is encountering local resistance, and in the event of a breakout, we can anticipate continuation.
This rise could lead to an increase to around 0.06, a crucial resistance level.
Despite my reservations about the project's tokenomics, I am technically bullish and will allocate a very small portion of my portfolio to this trade.
Buy and hold GALA/USD from this ZONEIf you missed the start, here is the BULLISH version. This is how it should continue. It will also be difficult here under this red line course, so I wouldn't rule anything out here at the moment. Act wisely, not with too much RISK and always keep yourself informed. Don't watch too much TV and news, the only interest here is to guide you to where you make wrong decisions. Just follow a thought that you are 100% convinced of, then you will earn money in the long term without RISK.