0.075 $ Fakeout, Potansiyel Bir İyileşmeyi Tetikliyor

A descending trendline initiated in early April carried a significant correction rally for GALA/USDT çifti. As a result, the coin holders lost significant support levels and reached a low of $0.048. However, a fakeout from the last support breakdown of $0.075 has increased the bullish tension and may kickstart a recovery rally.

Anahtar noktalar: 

  • The descending trendline offers dynamic resistance to GALA price
  • GALA'daki gün içi işlem hacmi, %1'lik bir kazanç anlamına gelen 50 Milyar Dolar'dır.

GALA/USDT GrafiğiKaynak- Tradingview

On April 6th, the GALA price broke down from the ascending support trendline, carrying the last quarter’s recovery rally. However, the renewed selling pressure trigged a steady downtrend, piercing through multiple support levels one after another. 

Furthermore, the GALA price had recently breached the $0.074 support level, indicating that the sellers are preparing for further downfall. Over the past six weeks, the GALA price tumbled by 83% and has marked its current low at $0.0487. 

However, the sellers failed to sustain the GALA price below the $0.07 mark, resulting in a support fakeout. This bear trapped punished the aggressive seller who took the breakdown entry, and their forced liquidation fueled today’s price jump.

Currently, the GALA price trades at the $0.099 mark, displaying a 45.6% intraday pump. If buyers continue to push the price higher, the altcoin will retest the aligned support of the descending trendline, 20-day EMA, and $0.13 level.

However, until the resistance trendline is intact, the altcoin will continue to bleed and may drop below $0.078.

Conversely, the buyers would breach the dynamics resistance under an unexpected bullish scenario, triggering a potential recovery rally.

Teknik Gösterge

The Daily-RSI slope escaped from the overbought region bolsters the recovery theory. 

However, a bearish sequence among the declining EMAs(20, 50, 100, and 200) indicates the potential rally would face multiple resistance ahead.

  • Direnç seviyesi - 0.13 ABD Doları ve 0.165 ABD Doları
  • Destek seviyesi - 0.074 ABD Doları ve 0.05 ABD Doları

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Source: https://coingape.com/markets/gala-price-prediction-0-075-fakeout-triggers-a-potential-recovery/