Gala Price Prediction for Today, August 24 – GALA Technical Analysis

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The Gala price prediction shows that GALA is moving higher and could break above the resistance of $0.030 if the bulls increase the pressure.

Gala Prediction Statistics Data:

Gala price now – $0.020
Gala market cap – $734 million
Gala circulating supply – 34.0 billion
Gala total supply – 36.1 billion
Gala Coinmarketcap ranking – #88

Entering crypto projects early is frequently advised to capitalize on potential gains. For instance, the Gala (GALA) has experienced a remarkable ascent since its all-time low. On December 28, 2020, the token’s price plummeted to $0.000151. Today, it has surged by an astonishing 14,123.61%, demonstrating the substantial opportunities that can emerge from investing in a project at an opportune moment.

GALA/USD Market

Key Levels:

Resistance levels: $0.026, $0.028, $0.030

Support levels: $0.012, $0.010, $0.008

Gala Price Prediction for Today, August 24 – GALA Technical Analysis

GALAUSD – Daily Chart

GALA/USD has been trading within a descending channel on a daily chart since March 9th, 2024. Despite a brief false breakout, the price quickly re-entered the channel, indicating that the bearish trend remains intact. Recently, the Gala price bounced off the channel’s support and is now approaching the channel’s resistance, along with a key long-term resistance level at $0.020.

Gala Price Prediction: GALA Price Ready for the Upside

The daily chart shows that the Gala price has been fluctuating between the channel’s support and resistance levels, with the latest bounce suggesting that the price might soon hit the resistance levels of $0.026, $0.028, and $0.030. Meanwhile, the $0.020 level is particularly significant as it aligns with the channel’s resistance, creating a potential barrier that Gala will need to overcome to continue any upward momentum.

Nevertheless, GALA/USD is currently at a pivotal moment, with multiple resistance levels converging. A breakout above the $0.025 resistance could lead to significant price gains, targeting $0.030 to $0.040, depending on the breakout’s strength. However, if the price drops below the 9-day and 21-day moving averages, it may lead to a downturn, with initial support at $0.015 and further critical support levels at $0.012, $0.010, and $0.008.

GALA/BTC Could Spike to Upside

In comparison to Bitcoin, the Gala price is currently positioned above both the 9-day and 21-day moving averages, with an upward trajectory that suggests it may soon break above the channel’s upper boundary. The price is presently trading at 33 SAT, with the 9-day MA on the verge of crossing above the 21-day MA. However, the daily chart indicates that Gala may experience a pullback after reaching a recent high of 34 SAT.

On the downside, if the price begins to decline, key support could be found around 20 SAT or lower, near the channel’s lower boundary. Conversely, if Gala sustains a move above the channel’s upper boundary, it could attract additional buyers, pushing the price towards the next resistance levels at 45 SAT and higher.

Nevertheless, @cryptojack updated his 343k followers on X (formerly Twitter), highlighting that $GALA is rebounding from a significant support level. He anticipates that #GALA could see a substantial increase from this point. Stay tuned for more updates!

The price of $GALA is bouncing from a massive supoprt area and #gala will likely pump from here. Stay tuned! pic.twitter.com/nRpSc6FEbJ
— CryptoJack (@cryptojack) August 23, 2024

Gala Alternatives

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