Starting from the end of January 2022, the aggression of sellers in the GALA market has significantly decreased. A special demoralizing factor for sellers was the trading week on 31 January. As we can see in the weekly timeframe, in a week buyers managed to raise the price by 70%. At the same time, buyers completely absorbed the previous aggressive fall candle from 17 January. This fact clearly showed the presence of a large buyer in the GALA market and the readiness to form a new growth wave. There would be common favorable factors in the whole cryptocurrency market. https://www.tradingview.com/x/0RLYi3FP/ After a triumphant weekly candle from buyers, the next attempt by sellers to continue the fall wave had a rather clumsy appearance. During the 4 trading weeks, sellers did not manage to take control of an important range of $0.2. Namely, from this range, buyers made an aggressive price attack on 31 January. This fact clearly hints at the complete exhaustion of sellers. The worst-case scenario in the GALA market at the moment is the continuation of consolidation in the range of $0.2-$0.26 with the future sharp price impulse up to $0.38. While the $0.2 mark is under the control of buyers, this is our main scenario. Technical Analysis Of GALA On A Daily Timeframe https://www.tradingview.com/x/CyDru3qv/ Why, under such favorable conditions, do we still expect a local fall wave? If you analyze the GALA trading volumes on the dai...
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