GALA Coin... Has it started to wake up from its coma? (My personal analysis)
Honestly, I haven't thought about this coin $GALA for a long time, just like many of us. The gaming sector (GameFi) took a heavy hit, and the market almost forgot its coins. But I looked at its chart today by chance and found a few interesting things.
The current situation isn't great; the price is still "sinking" below all the important moving averages, which means the bears are still in control.
However... there is a glimmer of hope. The Relative Strength Index (RSI) is in the "oversold" zone. This basically means that the indicator is screaming and saying, "Guys, enough selling, the coin has been beaten up!". And this sometimes is the first hint that a bounce or reversal might happen.
Here’s the game plan:
The line in the sand (the wall): is the level of $0.01634. This is the wall that we need to break to say that the bulls have started to come back to the game.
Patience plan (buying from below): If the price drops again to test the support area at $0.01385 and holds above it, this could be an opportunity for the adventurous, with a very close stop loss below it.
Breakout plan (buying with strength): If the price breaks the wall at $0.01634 strongly with volume, this will be the strongest signal. At that point, the next target that my eyes will be on is the area of $0.0225.
Summary:
GALA is still in the danger zone, but there are small signals saying, "Keep an eye on me". Breaking the level of $0.01634 is the key to the whole game.
