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GALA / TetherUS PERPETUAL CONTRACT

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GALAUSDT.P trade ideas

Technical Insights: Building the Bullish Case for GalaTechnical confirmation of Wave 3 will occur when the price breaks above the Wave 2 high of $0.06649, as shown in the 4-hour chart. Until then, I’ll continue building a bullish case while monitoring price action closely. Bullish Indicators To support my analysis, I’m using the daily timeframe as the higher timeframe and the 4-hour timeframe as the lower view. Here's what I'm seeing: Daily Timeframe Stochastic RSI: Oversold at 0.41, with the K line on the verge of a bullish crossover with the D line. This signals an opportunity for a potential long setup. RSI: At 40.79, a favorable level for price interest to increase. Fibonacci Confluence: The ABC correction has bounced at the 0.618 Fibonacci retracement level, a strong indicator of a potential reversal. Note: The Rate of Change (ROC) currently shows bearish momentum at -28.38, likely reflecting the recent price drop. As momentum indicators are lagging, I’ll monitor this closely for a shift upwards as price momentum builds. 4-Hour Timeframe Stochastic RSI: Oversold at 14.70, with the K line crossing the D line, forming a bullish crossover—an ideal entry signal for a long position. RSI: Oversold at 27.28, with upward momentum signaling a potential short-term price spike, which would align with bullish momentum on the daily timeframe. Positioning and Price Expectations I have already bought in to Gala, and this review reinforces my bullish bias. While time will determine if we are indeed in Wave 3, the following price targets are based on traditional Fibonacci extensions and levels illustrated on the daily chart: Target 1: 1.618 Fib Level — $0.11303 Target 2: Monthly Resistance — $0.13158 Target 3: 2.618 Fib Level — $0.16193 Given that Target 2 (monthly resistance) is slightly above the 1.618 Fib Level, it’s reasonable to expect price to wick toward this level before potentially settling at or below 1.618. Final Thoughts The crypto market is notoriously unpredictable, and no one can perfectly predict price targets. However, the levels outlined provide a solid framework for assessing the price movement during Wave 3. With five sub-waves within Wave 3, I’ll reassess and adjust as each unfolds to refine expectations.
Long
by heywippa
Wave 3 Incoming? Why I’m Bullish on Gala’s Next MoveAfter closely tracking this correction since December 9th, I’m thrilled to share that my buy-in target of $0.03493 has been hit with near perfection. Throughout this period, I’ve carefully planned my exits and entries, which I’ve illustrated on my charts and shared as ideas in real-time. By exiting and re-entering at key levels, I’ve been able to: Protect my capital during the downturn. Make some gains on the December 11th bounce. Accumulate an additional 1.9 million Gala tokens on this re-entry – all without leverage. At the onset, it’s always challenging to identify the exact type of correction we’re in. However, as the pattern unfolded, it became apparent that this was likely a Wave 2 correction, with price retracing to the 0.618 Fibonacci level. Historically, 70% of Wave 2 corrections retrace between 0.382 and 0.786, with only 15% going beyond that. While there’s a possibility of further downside – especially as I remain short-term bearish on Bitcoin, which could drag alts lower – my priority is to secure a good price rather than aim for the absolute bottom. Support Levels Should the price dip further, key supports are: 200-day EMA: $0.03070 Weekly Support: $0.02959 0.786 Fibonacci Level: $0.02760 That said, I’m happy with my re-entry at this level and prepared to manage any downside. Wave 3: The Opportunity Wave 3 follows Wave 2 and is typically the most impulsive and exciting phase. Missing it while chasing a marginally lower entry is not a risk I want to take. Whether we’ve already completed the ABC correction or are in its final stages, I’m confident we’re transitioning towards something significant. The next few days and weeks will be pivotal, and I’m excited to see how Gala performs from here. Let’s see where this journey takes us! 🚀
Long
by heywippa
2
Why I’m Holding Off on Entering GalaGala appears to have possibly put in its ABC correction, bouncing at $0.03719, which narrowly missed my 0.618 Fibonacci target of $0.03592 from my previous analysis. I have a buy order placed at $0.03493, and the price has since rebounded to $0.040, a level that has acted as a point of support for some time. What’s Next? This level could mark the bounce area, but I’m holding off on entering the market until I see clearer confirmation on the charts. My approach involves dual time frame momentum trading, where I align trades with the direction of a higher time frame and identify entries on a lower time frame. Currently, none of the time frames are aligning to signal a good entry, which suggests the market may still be in the correction phase. I’m keeping a close eye on the 4-hour chart for signs that the correction is concluding. Based on the current price action, I believe we’re either at the end of the correction or very close to it. However, my buy order at $0.03493 remains active. Let’s see if the price moves back down to hit that level. Fingers crossed!
by heywippa
10
Gala Correction In Play Possible Target $0.03416As per my previous technical analysis (TA), I was correct in thinking that GALA's correction is not completely finished. Elliott Wave Context - Wave 2 Correction Referencing Bennett McDowell’s 'Elliott Wave Techniques Simplified' (highly recommend reading it if you are serious about trading): 15% of Wave 2 corrections retrace between 23.6% and 38.2% of the Fibonacci levels. 70% of Wave 2 corrections typically retrace between 38.2% and 61.8%. Given that GALA hit the 0.50 Fibonacci level relatively early in this correction, it seems relatively possible that we may now correct to the 0.618 Fibonacci level. Key Support Levels to Watch: Monthly Support @ $0.398 or; 0.618 Fib Level @ $0.03619 - $0.03416 Summary GALA's price action aligns with typical Elliott Wave Wave 2 correction behavior. I remain cautious but will closely monitor these support levels for potential bounces to confirm the next move.
Short
by heywippa
Razor's Edge GalaHello guys This coin is in a range of almost 300%. Due to its sharp movement to the ceiling of the range, we saw a small correction. Now, if it can break its suffering from this point, it can be validly bought in case of failure, but according to the market conditions and the conditions of this currency, we expect it to make further corrections and we can buy a step. The first step is the half-fibonacci point and the second step is the drawn support. If you like this analysis, I will be happy to give us energy with your support.
Long
by TheHunters_Company
2
GALA Correction Still At Play - Exited PositionsHey guys, I am on holiday but have decided to exit my GALA positions based on my predictions for Bitcoin and XRP and that Bitcoin is looking to have a correction - refer to my ideas. I previously suggested in one my ideas ( click here ) that the correction was over, however based on my review of both Bitcoin which has given me a bearish bias I have now reviewed my GALA prediction and it appears that GALA's correction may still be playing out. Apologies I am on Holidays so I don't have a full ability to write my usual analysis. I am not entirely too worried if I am wrong about this because since the correction on December 08th, all my idea predictions have been correct on Gala and have preserved my balance whilst also collecting an additional 825,000.00 coins without any leverage. If this trade reverses bullish than I can easily enter back in still well in the gren, but if this prediction plays out than I have the possibility gaining more coins for the next leg up.
Short
by heywippa
2
GALA Price Analysis: Medium Term $$0.55, Long Term $1.35Price Targets Medium-term: $0.52 - $0.55 Long-term potential: $1.35 Core Trading Strategy: Dual Time Frame Momentum My trading approach is based on a Dual Time Frame Momentum Strategy, where I base direction off the higher timeframe (Monthly) which helps to determine overall market direction and then use lower timeframes (Weekly/Daily) for tactical entry/exit points. Exit Strategy Parameters Monthly timeframe must show BOTH: RSI in oversold region Stochastic RSI: In oversold region and K line crosses below D line When these conditions are met plus a few others, it will signals the potential end of the bull cycle for Gala and time to exit positions. Technical Analysis Medium-Term Target ($0.52 - $0.55) Based on extension from previous high to previous low, look for a price extension to to 0.618 Fibonacci level which represents realistic bull run target. Long-Term Target ($1.35) Based on 1.618 Fibonacci extension (Golden Pocket). Whilst this may seem like a crazy price, similar extensions have been achieved by Bitcoin and XRP already. Note: Represents significant multiplication (~300x). Consider this an optimistic scenario rather than base case. Key Strategy Emphasis The monthly timeframe serves as the primary indicator for continued bullish momentum. Regardless of price targets, monthly indicators will be the decisive factor for me maintaining or exiting positions. Risk Management All price targets are subject to monthly timeframe confirmation of continued bullish momentum. Strategy emphasizes staying in trend while having clear exit parameters defined by monthly technical indicators.
Long
by heywippa
1
Short Term Price Target: Long $0.12078 - $0.13126LONG position initiated based on completion of ABC correction pattern. Technical Analysis of Momentum Indicators RSI currently at 57, indicating favorable buying conditions Stochastic RSI (Daily): Currently in oversold territory, with bullish signal forming with K line approaching D line crossover Rate of Change (ROC) positive (above 0), confirming bullish momentum All momentum indicators are showing signs the correction is over and now have a bullish bias. Price Targets Short-term target zone: $0.12078 - $0.13126 Based on 1.618 Fibonacci extension level ($0.12078) Monthly resistance level ($0.13126) Trading Plan Maintaining LONG position based on convergence of bullish indicators, monitoring price action until the stochastic RSI reaches the overbought region on the daily at which point I will review price action for potential reversal. Medium-term analysis and price projections to follow in subsequent idea. If you like this idea please like, and follow if you would like to receive further updates on GALA
Long
by heywippa
GALA Update: Corrections and a Bullish PerspectiveIn yesterday's idea, I suggested that GALA’s correction was forming a descending triangle, a bearish continuation pattern as illustrated above. However, with more price action now available, it appears the correction is more accurately forming a descending channel, which has a bullish bias. The key takeaway? Corrections are dynamic—it's crucial to forecast but stay flexible and adapt as new data emerges. Recap of the Last Idea: In my previous idea, I zoomed down to the 30-minute chart to better analyze the correction and predicted that price would test the monthly support at $0.04358. This played out as expected, reinforcing my bearish view at the time. Knowing the correction would unfold overnight, I avoided taking on risk and focused on accumulating during the downtrend. As the price broke down from the descending triangle, it quickly recovered, bounced back into the pattern, and found resistance. Initially, I thought it was a false breakdown, but on closer inspection, it now looks like a descending channel, which aligns with my bullish macro outlook. Trading Framework Based on Stochastic RSI Daily Stochastic RSI: Still in bearish momentum but nearing a turnaround point. This supports the view that the correction is nearing its end. 4-Hour Stochastic RSI: The K-line has crossed the D-line, signaling bullish momentum. However, I’m holding off on entering a longer-term trade until the daily RSI confirms bullish momentum. Short-Term Trading Plan Both the 2 hour and 30 minute timeframes show Stochastic RSI in the overbought region, indicating short-term bearishness. This suggests we might see price test the bottom of the channel before breaking to the upside. This fits well with my larger narrative, where the daily momentum indicators suggest a bullish breakout is likely after this temporary retracement. Final Thoughts: Corrections are complex and fluid—this shift from a descending triangle to a descending channel highlights the importance of staying adaptable. For now, I expect short-term bearishness before a bullish breakout, making this a critical moment to observe price action at support levels within the channel. If you like this idea please like, and follow if you would like regular updates on Gala.
Long
by heywippa