GALA is bearish, down nine percent in the last trading week. As long as prices are below $0.21, sellers are in the driving seat. A close above March lows may see the coin rally to $0.28. Past Performance GALA is still within a bear breakout formation following losses of late last week. Overall, the path of least resistance is down. The token is down nine percent in the previous week of trading. Sellers have the upper hand as long as prices are below March 2022 lows of around $0.21. GALA Technical Analysis The coin is within a bear breakout formation. Notably, the April 11 bear candlestick defines the short and medium-term formation. With clear resistance at $0.21—coinciding with the April 11 high—and bulls unable to unwind losses, risk-off traders can unload on every attempt to retest $0.21. Eventual losses below $0.19 and April 11 lows may see a sell-off, forcing the coin towards $0.16—Q1 2022 lows. Conversely, a high volume spike above $0.21 may signal the end of the bear run, paving the way back to March 2022 highs of around $0.28. What to Expect from GALA? The token’s valuation is under pressure, reflecting the general dicey state of the crypto market. Nonetheless, the immediate resistance level is at $0.21. A close above this line may relieve traders, setting up the foundation for a rally back to $0.28.The post GALA Within a Bear Breakout Formation, Resistance at $0.21 marking March 2022 lows first appeared on Cryptoknowm...
