- GALA’s price action is contained in a symmetrical triangle on its chart, showing signs of a major upswing ahead.
- From the RSI and MACD, we can tell bearish momentum is waning and bullish action may begin.
- A positive break over resistance could lead GALA’s price to jump by about 120% in the upcoming period, hitting $0.045.
Good news for GALA token holders as it may be about to make significant price moves in the near future. This was revealed in a recent tweet by Globe of Crypto. The analyst points out that the GALA token is being boosted close to a major resistance zone, sitting just at the edge of a symmetrical triangle pattern on the daily chart.
Usually, this chart type signals that big changes in the price may soon happen. According to Globe Of Crypto, if we see a breakout, GALA could increase by up to 130% in the coming weeks.
Source: X @GlobeOfcrypto1
It appears from the chart in the tweet that GALA has been going sideways in a symmetrical triangle pattern that formed in late 2024. This pattern of lower highs and higher lows has caused the price range to get tighter as time goes on. Should the breakout happen over the top of the triangle, the expected outcome is a price at about $0.045 and above.
Bullish Signal Possible If MACD Crosses
Based on the RSI on the daily chart from TradingView, GALA is currently in a neutral zone because the reading is 52.30.
Source: TradingView
Yet, the RSI is going down at the moment, hinting that the excitement in buying the token is slowing down a little. Sometimes, it is a sign of consolidation before a major move up happens.
One more important item on the chart is the MACD (Moving Average Convergence Divergence). As the MACD line and the signal line are very close right now, there could be an upcoming shift in momentum.
Bearish momentum is weakening because the MACD histogram is presenting weak red bars. But, a second MACD line crossing the signal line can confirm that the trend is changing upwards.
GALA Might Go Up by More than 100 Percent
GALA is now priced at $0.01936, up by 1.26% for today. Recent candles confirm that the coin is moving sideways and in tight ranges, just like it used to be before a breakout happens.
Should buyers manage to take the rate above the triangle, the anticipated increase above 100% could come to pass. Yet, traders ought to remain careful, because if the resistance or support isn’t broken, the market may remain flat or drop instead.
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