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GALAUSDT trade ideas

Sorry Guys, is Gala's Wave 2 Correction Really Over?Hey everyone! I know a few of you follow my ideas, so I thought I'd post this earlier rather than later—because I don't believe Gala's Wave 2 correction is over yet. After analyzing the price action and a few other key factors, I’ve re-evaluated my position, and things are pointing toward a more complex correction. Corrections Are Like Driving at Night Predicting corrections is tricky—it’s like driving at night. You plan your destination but can only see a couple of feet ahead at any given time. As the journey unfolds, your view becomes clearer. Originally, I thought Gala had completed a straightforward ABC correction. But after reviewing Bitcoin's price action, Bitcoin dominance, and Gala's movement today, I believe we’re dealing with a more complex WXY correction. What Is a WXY Correction? In simple terms, it’s multiple corrective structures connected by smaller "X" waves: Wave W: I believe this was Gala's first corrective wave, a zigzag (ABC correction). Wave X: A smaller corrective wave that connects W to Y. Wave Y: The next corrective structure, which could take the form of a zigzag, flat correction, or something else entirely. I have highlighted this on the 4 hourly chart. I believe we have completed Wave W and I’m closely watching price action and looking for a good exit point around the top of Wave X. Why Do I Think This? Bitcoin Has More Downside Potential. I believe Bitcoin could revisit its previous ATH of ~$73K. If this happens, it will have a significant impact on all altcoins, including Gala. (Check out my BTC idea posted today for more details.) BTC Dominance Signals Market Weakness In November, Bitcoin dominance rejected off the 0.618 level—just like it did in 2021. That event led to a 31% correction on Bitcoin, and corrections across the market. This could repeat. (Refer to my BTC.D idea posted today.) Overbought Stochastic RSI Many altcoins (including Bitcoin) have an overbought stochastic RSI on the weekly chart with a bearish crossover - illustrated above. This signals bearish momentum and has been a nagging red flag for me. Timing Aligns with a Complex WXY If Bitcoin’s correction takes another week or two to play out, it aligns with the possibility of Gala completing a WXY correction. Gala already finished an ABC correction, so this scenario seems logical. Targets Here’s what I’m watching for: Possible exit target for Wave X: Around $0.40–$0.42, I think price will probably baournce off one of the EMA's. Wave 2 Retracement: Could go as low as $0.17 without invalidating Wave 1 however price targets for Wave Y: Target 1: 0.786 Fib Level at $0.02760. Target 2: Weekly Support at $0.02449. I don't know if this is the actual go, but I felt it prudent to share my thoughts so you can at least have time to decide for yourself. I am still bullish, if you read my Bitcoin Dominance idea we are definitely looking good for an altcoin season we just need clarity on what Bitcoin is going to do. It really is at a junction point, of either going up or going down.
Short
by heywippa
8
GALA: Channel Breakout to Golden Zone - 40% Upside TargetHere's a professional TradingView analysis for GALA/USDT: Technical Analysis: Key Levels: 🎯 Entry: 0.035 USDT 🎯 Target (TP): 0.050 USDT (+40%) 📊 Current Price: 0.035 USDT 📈 Volume: 90.38M Pattern Structure: • Trading within descending channel • Double resistance confluence at target zone • Channel breakout setup forming Trade Setup: 1. Entry Setup: - Entry at 0.0356 - Clear channel breakout formation - Volume accumulation phase 2. Target Analysis: - Primary target: 0.05 - Confluence with major resistance - Potential 40% return from entry 3. Key Technical Factors: - Descending channel boundaries clearly defined - Wave pattern projecting upward movement - Multiple timeframe confluence (4H chart) Risk Management: • Set stops below recent lows • Risk:Reward ratio approximately 1:4 • Consider scaling in at entry zone Timeframe: • Chart: 4H BINANCE • Target Timeline: Early January 2025 Note: This is technical analysis only. Always manage risk appropriately and DYOR. #GALA #USDT #Crypto #TechnicalAnalysis #Trading
Long
by Supachai-Taechapisit
Why I’m Holding Off on Entering GalaGala appears to have possibly put in its ABC correction, bouncing at $0.03719, which narrowly missed my 0.618 Fibonacci target of $0.03592 from my previous analysis. I have a buy order placed at $0.03493, and the price has since rebounded to $0.040, a level that has acted as a point of support for some time. What’s Next? This level could mark the bounce area, but I’m holding off on entering the market until I see clearer confirmation on the charts. My approach involves dual time frame momentum trading, where I align trades with the direction of a higher time frame and identify entries on a lower time frame. Currently, none of the time frames are aligning to signal a good entry, which suggests the market may still be in the correction phase. I’m keeping a close eye on the 4-hour chart for signs that the correction is concluding. Based on the current price action, I believe we’re either at the end of the correction or very close to it. However, my buy order at $0.03493 remains active. Let’s see if the price moves back down to hit that level. Fingers crossed!
by heywippa
10
Technical Insights: Building the Bullish Case for GalaTechnical confirmation of Wave 3 will occur when the price breaks above the Wave 2 high of $0.06649, as shown in the 4-hour chart. Until then, I’ll continue building a bullish case while monitoring price action closely. Bullish Indicators To support my analysis, I’m using the daily timeframe as the higher timeframe and the 4-hour timeframe as the lower view. Here's what I'm seeing: Daily Timeframe Stochastic RSI: Oversold at 0.41, with the K line on the verge of a bullish crossover with the D line. This signals an opportunity for a potential long setup. RSI: At 40.79, a favorable level for price interest to increase. Fibonacci Confluence: The ABC correction has bounced at the 0.618 Fibonacci retracement level, a strong indicator of a potential reversal. Note: The Rate of Change (ROC) currently shows bearish momentum at -28.38, likely reflecting the recent price drop. As momentum indicators are lagging, I’ll monitor this closely for a shift upwards as price momentum builds. 4-Hour Timeframe Stochastic RSI: Oversold at 14.70, with the K line crossing the D line, forming a bullish crossover—an ideal entry signal for a long position. RSI: Oversold at 27.28, with upward momentum signaling a potential short-term price spike, which would align with bullish momentum on the daily timeframe. Positioning and Price Expectations I have already bought in to Gala, and this review reinforces my bullish bias. While time will determine if we are indeed in Wave 3, the following price targets are based on traditional Fibonacci extensions and levels illustrated on the daily chart: Target 1: 1.618 Fib Level — $0.11303 Target 2: Monthly Resistance — $0.13158 Target 3: 2.618 Fib Level — $0.16193 Given that Target 2 (monthly resistance) is slightly above the 1.618 Fib Level, it’s reasonable to expect price to wick toward this level before potentially settling at or below 1.618. Final Thoughts The crypto market is notoriously unpredictable, and no one can perfectly predict price targets. However, the levels outlined provide a solid framework for assessing the price movement during Wave 3. With five sub-waves within Wave 3, I’ll reassess and adjust as each unfolds to refine expectations.
Long
by heywippa
GALA Going To 0.29$There’s one zone to buy GALA and HOLD it zone ( 0.03$ - 0.28) target 0.29$ What’s GALA Coin ? —————————————- GALA Coin is the native cryptocurrency of Gala Games, a blockchain-based gaming platform. Gala Games aims to revolutionize the gaming industry by giving players more control over the games they play, including the ability to own in-game assets and influence the development of the games themselves. Here are some key aspects of GALA Coin: 1. Utility in Gala Games Ecosystem: • GALA is used as the primary currency within the Gala Games ecosystem. Players can use GALA to purchase in-game items, NFTs, and other assets in Gala-powered games. • It is also used for governance, allowing holders to vote on decisions related to the development of the platform and its games. 2. Decentralized Gaming: • Gala Games is built on blockchain technology, meaning it allows for true ownership of in-game assets. These assets, such as NFTs (Non-Fungible Tokens), can be bought, sold, or traded on various marketplaces. • Players can earn GALA coins by participating in games or contributing to the network in other ways, such as running nodes or supporting Gala Games’ decentralized ecosystem. 3. Play-to-Earn: • Gala Games is part of the emerging “play-to-earn” (P2E) trend, where players can earn rewards (in GALA or NFTs) through their in-game achievements and participation. 4. Gala Node Network: • Gala Games operates a decentralized node network, where individuals can run nodes to support the infrastructure of the Gala Games platform. Node operators are rewarded with GALA coins for contributing to the network. 5. Games on the Gala Platform: • Gala Games has several titles within its ecosystem, including “TownStar” (a city-building game), “Mirandus” (a fantasy RPG), and others. These games often integrate GALA coins and NFTs for in-game transactions. Overall, GALA Coin serves as a key element in Gala Games’ vision to create a decentralized gaming ecosystem, where players are incentivized to participate and contribute, and have real ownership of their in-game assets.
Long
by MajdAbdolMajeed
Wave 3 Incoming? Why I’m Bullish on Gala’s Next MoveAfter closely tracking this correction since December 9th, I’m thrilled to share that my buy-in target of $0.03493 has been hit with near perfection. Throughout this period, I’ve carefully planned my exits and entries, which I’ve illustrated on my charts and shared as ideas in real-time. By exiting and re-entering at key levels, I’ve been able to: Protect my capital during the downturn. Make some gains on the December 11th bounce. Accumulate an additional 1.9 million Gala tokens on this re-entry – all without leverage. At the onset, it’s always challenging to identify the exact type of correction we’re in. However, as the pattern unfolded, it became apparent that this was likely a Wave 2 correction, with price retracing to the 0.618 Fibonacci level. Historically, 70% of Wave 2 corrections retrace between 0.382 and 0.786, with only 15% going beyond that. While there’s a possibility of further downside – especially as I remain short-term bearish on Bitcoin, which could drag alts lower – my priority is to secure a good price rather than aim for the absolute bottom. Support Levels Should the price dip further, key supports are: 200-day EMA: $0.03070 Weekly Support: $0.02959 0.786 Fibonacci Level: $0.02760 That said, I’m happy with my re-entry at this level and prepared to manage any downside. Wave 3: The Opportunity Wave 3 follows Wave 2 and is typically the most impulsive and exciting phase. Missing it while chasing a marginally lower entry is not a risk I want to take. Whether we’ve already completed the ABC correction or are in its final stages, I’m confident we’re transitioning towards something significant. The next few days and weeks will be pivotal, and I’m excited to see how Gala performs from here. Let’s see where this journey takes us! 🚀
Long
by heywippa
2
Revisiting Dec 23rd: The WXY Correction in PlayOn December 23rd, I shared my observation that Gala was still undergoing a correction. I proposed it might be following a WXY corrective pattern rather than a straightforward ABC correction ( see idea here ). The key distinction is that an ABC correction is a single structure, while a WXY correction consists of multiple corrective structures linked by an X wave, as illustrated above on the 4-Hourly Chart. Following changes in price action on December 24th, I posted a bullish scenario for Gala. However, it now seems that my original WXY correction analysis from December 23rd is playing out after all—apologies for the premature bullish outlook. What did I overlook? One metric that has consistently stood out to me on the weekly chart is the Stochastic RSI, which I’ve included in all my posts. It has remained bearish, and ideally, I would prefered it to drop into the oversold region before expecting the next leg up. While it isn’t a strict requirement, historical patterns strongly suggest that this should happen. In my last post, I reluctantly considered the possibility that this time might be different—but I now see that patience is a virtue and just a reminder to trade the charts. The WXY corrective structure is clearly visible on the 4-hour chart, and I anticipate the following moves: A drop to weekly support at $0.2961. A potential further drop to either the 0.786 level at $0.2761 or lower support at $0.0249. What’s Next? We are in the final stages of this correction, and it is likely to conclude within the next 7–10 days. My bullish scenario from December 23rd still holds, but it was shared prematurely. I am actually very happy to see the weekly RSI moving down to the oversold region, history shows that most big moves happen when the weekly is in the oversold region. With most coins being in the overbought area this has been an point of concern for me. I have illustrated this point in this idea - click here .
Short
by heywippa
Razor's Edge GalaHello guys This coin is in a range of almost 300%. Due to its sharp movement to the ceiling of the range, we saw a small correction. Now, if it can break its suffering from this point, it can be validly bought in case of failure, but according to the market conditions and the conditions of this currency, we expect it to make further corrections and we can buy a step. The first step is the half-fibonacci point and the second step is the drawn support. If you like this analysis, I will be happy to give us energy with your support.
Long
by TheHunters_99
2
Gala Correction In Play Possible Target $0.03416As per my previous technical analysis (TA), I was correct in thinking that GALA's correction is not completely finished. Elliott Wave Context - Wave 2 Correction Referencing Bennett McDowell’s 'Elliott Wave Techniques Simplified' (highly recommend reading it if you are serious about trading): 15% of Wave 2 corrections retrace between 23.6% and 38.2% of the Fibonacci levels. 70% of Wave 2 corrections typically retrace between 38.2% and 61.8%. Given that GALA hit the 0.50 Fibonacci level relatively early in this correction, it seems relatively possible that we may now correct to the 0.618 Fibonacci level. Key Support Levels to Watch: Monthly Support @ $0.398 or; 0.618 Fib Level @ $0.03619 - $0.03416 Summary GALA's price action aligns with typical Elliott Wave Wave 2 correction behavior. I remain cautious but will closely monitor these support levels for potential bounces to confirm the next move.
Short
by heywippa