Gala's fundamentals remain a factor to consider GALA $GALA GalaGames GalaCoin GalaCrypto GalaArmy
The trader envisages a scenario in which Gala declines to sub-$0.040 levels. In this case, GALA would have to drop further by more than 10% to reach this target. was down 12.2% at $0.044, in line with current market declines. Gala created a double top near the $0.055 level on Jan. 17 and has steadily dropped since then.
If the drop continues, GALA might seek support next at the daily MA 200 at $0.040. In this scenario, the bulls may gather strength and pick up a rally to retest the $0.055 high once more.According to Fous' chart, GALA is still in an ascending trend on the hourly chart, so bulls may take advantage of the dip to push GALA prices higher.On the daily chart, GALA is forming a triangular pattern that might lead into a breakout, although the possibility of further declines cannot be ruled out.
On-chain analytics firm Santiment named"whales," or"large holders," as those who pushed up the GALA price. It observed that the number of GALA transactions exceeding $100,000 returned to a two-month high as prices rose. Gala's fundamentals remain a factor to consider. The broader market moves might, however, be more significant in this regard.
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