NewsletterGALA Price Analysis: The Flag Pattern Can Resume Bull Rally In GALA Token
The GALA token price is going through a usual correction phase after its remarkable rally in November. Furthermore, the price is plunged to the 0.5 FIB level and is trying to sustain above. The crypto traders would get a better confirmation resuming this rally when the token breaks out from the bullish pattern.
Key technical points:
- The 20-day EMA providing strong support to GALA price
- The intraday trading volume in the GALA token is $1.1 Billion, indicating a 3.68% gain.
Source- GALA/USD chart by Tradingview
The last time when we covered an article on GALA/USD, the token price marked $8.4 as the New All-Time High on its technical chart. After obtaining strong rejection from this new resistance, the price entered a correction phase and lost 40% in almost two weeks. The token is currently plunged to the 0.5 Fibonacci retracement level and indicates strong demand pressure with several lower price rejection candles.
The crucial EMA levels(20, 50, 100, and 200) sustain a bullish sentiment for this token as its price is trading above all of them. The Relative Strength Index(53) displays a steady downtrend in the chart approaching the oversold zone.
GALA/USD 4-hour Time Frame Chart
Source- GALA/USD chart by Tradingview
For the correction phase mentioned above, the GALA price has revealed a Flag pattern in the 4-hour time frame chart. The price is currently resonating between the two descending trendlines leading to this short-term downtrend. Thus, the crypto traders should wait for the price to breach the overhead resistance trendline, which would provide them an excellent long entry opportunity.
The MACD indicator’s lines have started approaching the neutral zone from below. If they manage to jump above this middle line, the crypto traders will get an extra confirmation for a bull rally.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- BlackRock Bitcoin ETF Ranks Among Top ETFs In 2025 Despite Crypto Downturn
- Stablecoin Adoption Deepens as Klarna Turns to Coinbase for Institutional Liquidity
- Ripple, Circle Could Gain Fed Access as Board Seeks Feedback on ‘Skinny Master Account’
- Fed’s Williams Says No Urgency to Cut Rates Further as Crypto Traders Bet Against January Cut
- Trump to Interview BlackRock’s Rick Rieder as Fed Chair Shortlist Narrows to Four
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
