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GALA Price Prediction: GALA Hints Reversal, Can It Reach $0.0400?

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GALA Price Prediction: GALA Hints Reversal, Can It Reach $0.0400?
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The GALA token demonstrated a setback and noticed bullish momentum transcending the key moving averages. Moreover, the token noted a remarkable bounce and exhibited follow-on buying momentum in the previous sessions. The price action witnessed higher high swings and a double bottom formation was seen, replicating signs of buyer accumulation.

The GALA price has jerked sharply above the 20-day EMA mark, and a golden crossover is seen on the charts. Moreover, the technicals are exposing a bullish trend ahead, and investors are showing their interest, which may soon redirect the token above the prompt hurdle of $0.03500. Per the Fib retracement levels, the token has reverted from the 23.6% zone and escaped the 38.2% zone.

The Gala token (GALA) price was $0.03016 at press time, with an intraday gain of 5.75%, showing a trend reversal on the charts. Moreover, the trading volume has increased by 23.78% to $168.50 Million. The pair of GALA/BTC is at 0.000000591 BTC, and the market cap is $227.40 Million. Analysts are neutral and suggest that the Gala crypto (GALA) price will continue to gain momentum and may retest $0.04000 soon.

GALA Reveals Buyer Accumulation: Is There a Bullish Trend Ahead?

GALA Price Prediction: GALA Hints Reversal, Can It Reach $0.0400?
Source: GALA/USD Chart By TradingView

The token depicted a notable pullback from the critical support zone of $0.02000 and poured over 40% this month, signifying the buyers’ accumulation. The token has gathered strength and is on track to retest the 50% Fib hurdle of $0.03500. Similarly, the trend is intact, and gestures of bullish reversal have flourished, which may flare fireworks in the subsequent sessions. Following the market surge, the token has replicated alerts of bullishness and is ready to outperform soon.

The Relative Strength Index (RSI) curve stays in the overbought zone, and forming a positive divergence reveals the bullish momentum. Similarly, the MACD indicator shows a bullish crossover, and the green bars formed on the histogram suggest the outperformance for the upcoming sessions.

GALA Displays Three White Soldiers Formation on Weekly Charts 

GALA Price Prediction: GALA Hints Reversal, Can It Reach $0.0400?
Source: GALA/USD Chart By TradingView

On the weekly charts, the token has assembled a bullish engulfing candlestick and retreated the gains sharply. Moreover, the turnaround came with the formation of the three white soldiers, ensuring buyers have now held their grip and are peeking to surpass the 50-day EMA hurdle. However, buyers are eyeing to crack the trendline hurdle of $0.03100, which, if it breaks, the token may spike toward $0.03800 shortly.

Summary

The Gala token (GALA) price signifies a trend reversal and is readying to gain sharp momentum but needs to surpass $0.3200. Moreover, the bulls have attained strength and are showing their intent to retest the round mark of $0.04000 in the upcoming weeks. 

Technical Levels

Support Levels: $0.03000 and $0.02800

Resistance Levels:$0.03200 and $0.3400

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. 

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