GALA Technical Analysis: Channel Retest Teases 30% Price Jump

GALA price action shows a retest phase of the broken trendline that hints at a post-retest reversal that may surpass the $0.10 mark. Key technical points: The GALA price action shows a retest of the broken resistance trendline. In addition, the price action shows a high likelihood of a price jump above $0.10. The 24-hour trading volume of Gala Games is $534 Million, indicating a hike of 200%. Past Performance of GALA GALA prices showcase a long-term downtrend within a bearish expanding channel pattern lasting for the past two months. The downfall started in April after facing opposition near the $0.27 mark close to the crucial EMAs resulting in a dip to $0.060 where a V-shaped reversal starter with a morning star pattern. However, the bullish reversal failed to surpass the psychological mark of $0.10, resulting in a diagonal trend that eventually overtook the resistance trendline. Source- Tradingview GALA Technical Analysis The GALA prices showcase a bullish breakout of the resistance trendline and retest the broken trendline. Moreover, the retest candle shows a lower price rejection that increases the chances of a bullish reversal that may surpass the $0.10 barrier. The crucial daily EMAs (50, 100, and 200-days) fall in a bearish alignment which indicates a long correction phase. Furthermore, the MACD and the signal lines show an upward trend. Moreover, the increase in buying pressure can be seen in the rising trend in bullis...