Here’s a quick technical analysis based on your latest GALA/USDT chart (D1 timeframe):
1. Price Action:
Current Price: $0.02035
24h Range: High of $0.02118 and Low of $0.01929
Volume: 959M — relatively high, indicating strong activity.
2. Candle Pattern Observation:
After a strong bullish run (large green candles), we see:
A rejection wick near $0.02445 (resistance zone).
Followed by three red candles, indicating pullback or profit-taking.
The last candle is green with a small body, showing indecision or a potential pause in the downtrend.
3. Support & Resistance:
Support Levels:
Around $0.01929 (last local low).
Below that, around $0.01817 and $0.01630.
Resistance Levels:
Immediate resistance: ~$0.02118.
Strong resistance: ~$0.02329 to $0.02445 (where price previously reversed).
4. Trend:
Still uptrend in the short-term despite pullback.
Bulls are trying to defend the $0.020 level.
5. What to Watch:
If the price holds above $0.01979 and breaks above $0.02118, it could retest $0.023.
If it drops below $0.01929 with volume, expect further downside towards $0.018.
