GALA – ALTCOIN CHART ANALYSIS

GALA is also still in a clear downtrend. This can be clearly seen from the red resistance line, which has stood in the way as resistance since the all-time high.

We are currently trading at around $0.20, above the important monthly support S2, but still below the 4H-EMA ribbons, which represent additional resistance and we need to break through for an uptrend.

Most recently, we compensated for the mid-December 2021 pump by falling back into the $0.16 area. Another dump in the region around 0.13 – 0.14 is still possible, since no further support has formed in between.

On the hourly GALA/BTC 4H chart, we might see a small trend reversal. A bullish double bottom chart pattern has formed there. At the same time, we tested a strong support zone.

The trading volume has increased slightly. It is now important that we break through the area around 0.0000057 BTC. Here is the monthly resistance S2 and at the same time the resistance line of the chart pattern.

If we break this, a pump into the region around 0.000007 BTC is possible, as this is where our next resistance zone is located. On the breakout, volume should increase and confirmation of the 4H-EMA Ribbons should follow.

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