Will GALA Crypto Dominate in 2024?

The price of the GALA Crypto (USD: GALA) is showing a strong upward trend and is trading near the $0.035766896 resistance line. Buyers are eager to overcome obstacles and reach new heights. GALA cryptocurrency price rose by more than 25% in the past month. Price is trading above major moving averages, indicating bullishness. 

The price action indicates that the GALA cryptocurrency has broken multiple highs, demonstrating the bulls’ strength, which continues to sustain buying momentum.

At the time of publication, the GALA cryptocurrency was trading at $0.03149488 with an intraday loss of 3.31%, below the 200-day EMA, highlighting  bearish sentiments on the chart. Moreover, the intraday trading volume is 83.956 Million. The market capitalization of GALA cryptocurrency is $847.094 Billion.

The oscillator indicates that the current price is overbought. Investors are optimistic about next week’s results. The price of the GALA cryptocurrency rose by about 7.33% over the past week and rose by 25.64% over the past month. 

Moreover, in the long term, the cryptocurrency has performed well, with the cryptocurrency rising about 132.45% in the last three months and about 17.58% in the last six months. The crypto’s performance over the course of the year has also been good, gaining about 88.85% year to date.

Technical Analysis of GALA Crypto Price in 1-D Time Frame

GALA (USD: GALA) has seen a steady rise in the price over the past three months, gaining 132.28%. It gained 25.54% over the past month. At the time of writing, GALA cryptocurrency is trying to maintain this level even after the unexpected price surge.

If it sustains at this level, the price of GALA may continue to rise and reach the first and second targets of $0.03576 and $0.037576. However, if the GALA price fails to maintain this level and falls, it may reach the nearest support levels – $0.02701 and $0.024996. The GALA (USD: GALA) cryptocurrency is trading above the 50-day and 200-day simple moving averages (SMAs).

However, as buying volume increases, the price could mark higher highs to maintain the bullish momentum. Therefore, the GALA price is expected to move higher and remain strong on the daily chart.

The current RSI value is 60 points. The 14 SMA is above the centre line at 65.88 points, indicating the bullish nature of the GALA cryptocurrency. The MACD line at 0.00121143 and the signal line at 0.00143490 are above the 0 line.

A bearish crossover is observed. The MACD indicator signals weakness in the momentum of the GALA crypto price.

Summary

Technical oscillators for GALA (USD: GALA) confirm the bullish trend. MACD, RSI, and EMAs highlight positive signals, suggesting that the upward trend in the price of the GALA cryptocurrency may continue. Price action suggests that investors and traders are optimistic on a daily basis. Price movements reflect the current optimistic outlook. GALA investors avoid fear of loss.

Technical Levels

Support Levels: $0.02701 and $0.024996

Resistance Levels: $0.03576 and $0.037576

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.