GALA's Volatile Ride: Can Bulls Break $0.0205 Resistance?

Coin WorldSaturday, Mar 1, 2025 10:26 am ET

1min read

GALA, a cryptocurrency, has experienced a significant price drop from $0.024 to $0.0197 in recent weeks, raising questions about the potential for a trend reversal or further decline. The price chart analysis reveals a highly volatile market, with the price testing various support and resistance levels. The market has struggled to establish a definitive trend, characterized by regular bullish breakouts and bearish pullbacks.

After reaching an all-time high of $0.024, GALA faced intense selling pressure, which sent it into a downtrend channel. Several breakout attempts were made but could not be sustained, resulting in repeated pullbacks. However, recent GALA price analysis suggests that there might be a trend reversal, with buyers trying to drive the price upwards.

During the week of February 23rd to February 28th, GALA's price movement indicated a bearish formation with lower highs and lower lows. The price dipped to $0.021 on February 24th and further to $0.0195 on February 25th, struggling to cross the downward channel. Despite several attempts at recovery, the price remained volatile, with buyers and sellers engaged in a relentless struggle.

On March 1st, GALA traded at about $0.0197, trying to pierce significant resistance levels. The price action showed that the market was still not decisive, and there was no confirmation of the breakout yet. By 12:40 UTC, GALA had reached the $0.0205 resistance level, a key level for establishing a bullish trend. If GALA holds above this level, it could go up to $0.021-$0.022. However, not breaking this resistance might lead to another $0.0185-$0.019 pullback.

GALA's recent price movements suggest that buyers are active, but resistance remains strong. The price action is forming a range-bound pattern, indicating that a significant breakout could be imminent. The GALA price analysis suggests that if bullish momentum increases, GALA could target higher resistance levels in the coming days.

GALA's recent price movement has been highly volatile, with repeated attempts at breakouts and pullbacks.

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