GALA Technical Analysis: Reversal Brings The Dip To Buy

GALA coin price fails to rise above the $0.35 mark and retraces back to the $0.30 support zone. Is this retracement a worthy Buy-The-Dip Opportunity? The GALA coin price shows the failure of the uptrend to rise above the $0.35 mark after the retest of the $0.30 support zone. The recent rejection brings the possibility of a new resistance trendline. Will the bulls rise continue the pursuit to reach the $0.50 mark, or does a bearish reversal result in a lower high formation? Key technical points: The coin price fails to rise above the 0.35 mark. The MACD indicator shows the fast and slow lines rising above the zero line. The 24-hour trading volume in the GALA token is $1.36 Billion, indicating a 16% fall. Past Performance of GALA With the consolidation range breakout near the $0.20 mark, after a more than 70% downfall, the GALA coin price regains the bullish momentum. The uptrend breaks above the long-coming resistance trendline but faces rejection from $0.40 to reach the $0.30 mark. The post-retest reversal from the $0.30 touches the $0.35 mark but fails to surpass the seller’s line and gives birth to a resistance trendline. Currently, the GALA coin price trades at $0.3287, with a price fall of 4.55% in the last 24 hours as the bulls reverse from $0.35. However, the demand-rich support zone at $0.30 can help keep the uptrend intact. Source-Tradingview GALA Technical Analysis The GALA coin price forms a bearish daily candle near...