GALA price prediction suggests the struggle of GALA cryptocurrency to register its breakout from the symmetrical triangle pattern. However, sellers are trying to pull GALA crypto prices towards the lower trendline of the symmetrical triangle pattern over the daily time frame chart. Gala must attract buyers in order to surge towards the upper trendline. Investors in GALA crypto need to wait for any directional change over the daily time frame chart.
GALA price was at $0.02383231 and has lost 1.28% of its market capitalization during the day’s trading session. However, trading volume has increased by 9.28% during the intraday trading session. This demonstrates buyers are still present in the trade to push GALA crypto prices. The volume to market cap ratio was at 0.0675.
Gala Price Prediction: Technical Analysis and Target!
Gala price prediction indicates that GALA crypto may slip towards the lower trendline of the symmetrical triangle pattern. However, trading volume is still below average suggesting bulls are still present in the trade and to snatch the game from bears. Meanwhile, GALA crypto has slipped below the 20, 50, 100 and 200-days Daily Moving Average.
Gala price has gained around 42.81% year to date. This highlights the facts regarding GALA crypto’s recovery during 2023.
Technical indicators suggest the consolidation phase of GALA crypto inside the symmetrical triangle. Relative strength index (RSI) showcases the downward trend of GALA crypto. RSI was at 44 and is heading towards the overbought territory.
MACD exhibits the sideways momentum of GALA crypto price. The MACD line is overlapping the signal line waiting for any type of crossover. Investors in GALA crypto need to wait for any directional change over the charts.
Summary
GALA price prediction suggests the struggle of GALA cryptocurrency to register its breakout from the symmetrical triangle pattern. Gala price has gained around 42.81% year to date. Gala must attract buyers in order to surge towards the upper trendline. Technical indicators suggest the consolidation phase of GALA crypto inside the symmetrical triangle. Investors in GALA crypto need to wait for any directional change over the charts.
Technical Levels
Support Levels: $0.023100 and $0.02250
Resistance Levels: $0.02463 and $0.025
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/07/10/gala-price-prediction-will-gala-sustain-or-get-detained/