thecoinrepublic.com
- 1 GALA is currently trading at $0.0273 while seeing a rise of 14.58% in the 24-hour trading volume.
- 2 The GALA price recorded a gain of 17.50% in the last 7 days.
GALA price prediction indicates that the value of GALA coin can see a bearish decline in the near future. The price of the GALA coin is presently trading near its recent resistance around 50 EMA on the daily timeframe. The price has been taking constant resistance from its recent resistance level for the past few months.
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Presently, the price of GALA is facing critical resistance from the 50 EMA. According to the historical price action, the GALA coin price has been taking constant resistance from the 50 EMA, and is presently moving just below it; and is also facing resistance from the previous support level.
Decrease In LunarCrush Levels of GALA Token
There was a sharp decline in the bullish sentiments according to the LunarCrush platform. The total bullish sentiment metric has declined by 50.22%. There is also a fall of 17.83% in the total social engagement level which presents a negative view regarding the recent development of the token.
Major Hike In Greed Sentiment Of Investors
Investor sentiments regarding the overall cryptocurrency market are optimistic. The sentiment metric of the market has jumped up greatly by 15 points within a short period of time when the index was moving near 49 points.
The value sentiments in the greed and fear index are 64 points according to the Alternative(dot)me platform.
Technical Analysis of GALA Price (1 Day Timeframe)
The RSI line is giving a positive interception to the median line. The present value of the RSI is 43.53 points and the value of 14 SMA is 31.55 points. The RSI line is suggesting that the GALA price can take a negative turn as it moves toward the oversold zone.
At present, the stochastic RSI is near the oversold level. The value of the stochastic RSI is 100.00 points.
Conclusion
According to the analysis, the sellers are in control back of the GALA price. There is a sharp decline in the Investor’s bullish sentiments according to the LunarCrush which may create a negative impact on the price action in near future.
Technical Levels:
Support –$0.0200
Resistance – $0.03500
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.