GALA Price Signals A Bullish Action! Gala To Surge 50% Post Halving?

With the next Bitcoin Halving only 102 Blocks away, the cryptocurrency industry has entered into a consolidation phase, indicating weak buying and selling pressure in the cryptocurrency industry. Moreover, the market leader, Bitcoin price, continues to trade close to its support level at $61,000.

The Gala token has lost 25.23% within the past seven days and 20% over the past 30 days, indicating a bearish outlook for that altcoin this month. positively, the Year-To-Date (YTD) of this token stands at 45.49%, indicating a high possibility of a bullish reversal during the upcoming months.

Gala Price Hints At A Bullish Reversal!

The Gala price started in the year 2024 with a neutral sentiment by trading in a closed range between $0.020 and $0.0286 for about two months. As the bullish influence in the market increased, top altcoins displayed a strong bullish reversal by adding significant value to their respective portfolio.

Following the pump, the GALA price recorded a surge of approximately 300%, after which the price faced rejection at the resistance level of $0.08285. Since then, the price has been trading under a bearish influence.

Positively, the Gala token has recorded a jump of 10% within the past day, indicating a high possibility of a bullish rebound during the upcoming week.

The technical indicator, MACD, displays a constant decline in the red histogram, indicating a decrease in the selling pressure within the crypto space. Moreover, the averages show a flatline, highlighting uncertainty in the future price action of this altcoin.

Read Also : This Altcoin Cannot Be Longed Anymore; Is Shorting Solana a Better Option Now?

Will GALA Price Increase?

If the market breaks out of its resistance at $0.0475, the bulls will regain momentum and test its upper resistance level of $0.0585. Moreover, if the market favors the bulls after Bitcoin Halving, the GALA price will be prepared to test its upper resistance level of $0.07 during the upcoming week.

Conversely, if the bears overpowered the bulls, the Gala coin price would lose momentum and fall to test its crucial support level of $0.020 this month.