GALA/USDT – 1H – SELLThe combination Gala/Tether (GALA/USDT) moves from the descending trendline down.
A continuation of the bearish trend down to the next support level at 0.00728 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.00761 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 0.007 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the support level at 0.00761 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Matching Low’ candle chart pattern is found. The chart forms ‘Matching Low’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.00874 |
| 2nd High | 0.00779 |
| Next High | 0.00761 |
| Current Price | 0.007330000 |
| Next Low | 0.00728 |
| 2nd Low | 0.007 |
| 3rd Low | 0.00259 |
0.00761 – 0.00779 – 0.00874 – 0.00728 – 0.00729 – 0.007 — 38.920889956758 – 38.920889956758 — 25.262856734139 – 14.433874544024 – 46.444778230774 – 29.0942469542
Trading Signals: CRYPTO – GALA – GALA/USDT – USDT – Matching Low – Double top chart pattern – –