nearly two months, the price consolidated
GALA's price performance was strong until early March 2024, when it peaked at $0.086279. However, it struggled to maintain these gains, with the bullish trend failing and the price forming lower lows amid a declining trendline.
The efforts to sustain gains were evident as GALA formed a support level at $0.0384 following a liquidity grab on April 13, 2024. For nearly two months, the price consolidated within a Darvas box range in an attempt to surge. Unfortunately, on June 7th, 2024, the support was lost following a significant sell-off from the upper boundary of a wedge formation and the coincided 50-day and 200-day EMA bands.
The breakdown of the Darvas box indicated a loss of critical support for the bulls. This resulted in a sharp decline of over 75% from the ATH of 2024, as the price fell within a narrowing wedge.
Currently, GALA is forming a dynamic falling wedge. A key level to watch is $0.02686, which could be pivotal for a potential rebound and Change of Character (CHoCH). Despite these challenges, GALA saw a liquidity grab on August 5, 2024, at a dual support zone, aligning with the historical demand zone and the lower border of the dynamic wedge.
The efforts to sustain gains were evident as GALA formed a support level at $0.0384 following a liquidity grab on April 13, 2024. For nearly two months, the price consolidated within a Darvas box range in an attempt to surge. Unfortunately, on June 7th, 2024, the support was lost following a significant sell-off from the upper boundary of a wedge formation and the coincided 50-day and 200-day EMA bands.
The breakdown of the Darvas box indicated a loss of critical support for the bulls. This resulted in a sharp decline of over 75% from the ATH of 2024, as the price fell within a narrowing wedge.
Currently, GALA is forming a dynamic falling wedge. A key level to watch is $0.02686, which could be pivotal for a potential rebound and Change of Character (CHoCH). Despite these challenges, GALA saw a liquidity grab on August 5, 2024, at a dual support zone, aligning with the historical demand zone and the lower border of the dynamic wedge.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.