GALA confirms third breakout from descending channel with a successful retest as support.
Price reclaims MA 50 after prolonged accumulation phase, boosting bullish momentum.
RSI remains above midline, allowing room for sustained upward continuation.
Gala (GALA) has seen another breakout attempt of a repeated descending channel pattern and the subsequent test of the support again. The technicals and the price action are now revealing that the market is changing gears and potential bullish targets are attracting market attention.
Technical Breakout and Retest
Over recent months, GALA traded within repeated descending channels marked by lower highs and lower lows. The third breakout from this structure has now been validated with a retest of the former resistance as support. Such patterns, when broken multiple times, often precede stronger directional moves.
Jonathan Carter (@JohncyCrypto) noted that this pattern confirmation historically triggers more forceful price advances. His analysis sets key upside targets at $0.0235, $0.0330, and $0.0430. The first level coincides with a local resistance zone, while the higher targets align with broader resistance levels seen on the daily timeframe.
Source: JohncyCrypto via X
The most recent breakout also coincides with the advance of the price beyond the 50-day moving average, which served as the previously dynamic resistance. This gesture strengthens a possible transition to a buyer-controlled market stage.
Accumulation Phase and Market Participation
Volume trends show a 24-hour decline of more than 32%, with trading activity totaling $121.4 million. Despite this drop, the Vol/Mkt Cap ratio stands at 15.69%, reflecting adequate liquidity for active market participation.
Source: coinmarketcap
Price movement over the last 24 hours illustrates a classic recovery pattern. GALA opened at $0.01691, dipped sharply, and then steadily recovered to $0.01703, closing the session with a 0.77% gain.
Accumulation in the lower price ranges has been ongoing for months, suggesting positioning by larger market participants. This extended consolidation phase has historically preceded rapid expansions once price breaks from established resistance levels.
Indicators and Fundamental Context
RSI positioning supports the current bullish bias. Although it has cooled from overbought territory, the indicator remains above the midpoint, signaling momentum still favors buyers.
GALA’s circulating supply stands at 45.65 billion out of a maximum 50 billion, keeping dilution risks low. The market cap is currently $777.75 million, placing it within the mid-cap tier known for heightened volatility.
A recent contract migration may introduce short-term liquidity adjustments. Smooth integration into the new address will be key for sustaining momentum toward the projected targets. Market participants will watch closely to see if price maintains support above the breakout level in the sessions ahead.
