GALA Breaks Long-Term Resistance
Last week, the GALA price broke out from a 700-day descending resistance trendline, which had been in place since its all-time high. However, the weekly Relative Strength Index (RSI) has not turned bullish yet. Readings above 50 and an upward trend indicate that bulls have an advantage, but GALA’s RSI has yet to exceed 50, suggesting an undetermined trend.
GALA Price Prediction: How Long Will the Increase Continue?
On the daily timeframe, GALA experienced a decrease under a short-term descending resistance trendline since July. However, it broke out from the trendline and reclaimed two horizontal resistance areas. Combined with the long-term breakout, these signs indicate a bullish trend. If the price continues to increase, it could reach the $0.028 resistance area. On the other hand, a close below the $0.020 horizontal area could trigger a 23% drop.
Hot Take: GALA’s Bullish Cycle Begins
Crypto traders are optimistic about GALA’s future prospects. They believe that gaming coins, including GALA, have entered a bullish cycle. Traders like Crypto Tony and Crypto Faibik are bullish on GALA’s price and see potential for further increases in the future.
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