Analytics

GALA Prices inside a Bull Flag, Surges 11% as Buyers Target $0.38

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GALA Prices inside a Bull Flag, Surges 11% as Buyers Target $0.38

GALA bulls are upbeat, adding 11 percent in the previous week of trading against the USDT. The token could break above $0.27 and rally to February 2022 highs.

Past Performance

The GALA price remains in consolidation inside a bull flag considering gains over the past few months. GALA has been stable in the past 24 hours but is up 11 percent in the previous trading week. Overall, bulls are in a commanding position, sustaining prices inside the broader ascending wedge with clear support at $0.21 marked by March 16 lows.

GALA Technical Analysis

GALA Prices inside a Bull Flag, Surges 11% as Buyers Target $0.38

The path of least resistance is northwards based on the recent price performance. Technically, GALA prices are consolidating, trading inside a narrow $0.07 trade range with caps at $0.27 and $0.20 on the upper and lower ends. There has been confirmation of the bullish engulfing bar of March 16, suggesting strength. Aggressive traders can load the dip inside the March 16 trade range above $0.20 with targets at $0.27 and later $0.38—marking February 2022 highs.

What to Expect

Blockchain gaming and NFTs are finding widespread adoption—a fundamental factor supporting GALA bulls in the long haul. The immediate resistance level is at $0.27. However, if prices crash below $0.20, the token may drop towards 2022 lows of $0.17.


Source: ethereum.today

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