$GALA has revisited a critical support area following a continued decline in price action. As of July 5, the token recorded a 24-hour loss of 2.19%, closing near $0.01393 — a level that aligns closely with its April and May lows. This decline brings #GALA back to the $0.01390 support zone, a historically significant range that has repeatedly absorbed downside pressure.
Market Conditions and Volume Trends
Accompanying the price drop, trading volume decreased by 6.98% over the same 24-hour period, falling to $68.63 million. This decline in participation underscores a lack of bullish momentum, particularly near key resistance levels.
Market capitalization contracted by 2.17% to $628.97 million, reflecting broader weakness across the token’s valuation. The gap between GALA’s circulating and fully unlocked market cap — now at $696.27 million — continues to narrow, which may influence investor sentiment and market liquidity moving forward.
Key Technical Levels Under Scrutiny
#gala has consistently tested the $0.0115–$0.0150 range — a dense zone of historical buying interest. Despite repeated recovery attempts over recent weeks, the daily chart reveals persistent weakness, with sellers continuing to dominate near resistance.
The token remains under pressure from a descending trendline originating from the April local high. Attempts to break above this level throughout June and early July have failed to hold beyond daily closes. The most recent rejection occurred around $0.0150, coinciding with both the upper boundary of the support band and the descending trendline.
Unless price action can decisively break and close above this resistance zone, downward momentum is likely to persist in the short term.
Support Structure Remains Intact — For Now
Despite the bearish sentiment, GALA has thus far maintained support above $0.0115 — the key stop-loss level on a 4-hour close basis. A confirmed break below this threshold would invalidate the current support structure and expose the token to further downside.
For now, buyers continue to defend the $0.01390–$0.01470 area, a range that has proven resilient during previous retracements. This ongoing consolidation near long-standing support will remain a critical focal point for traders monitoring potential reversals or breakdowns.
