Altcoins

GALA Price Breaks Through the Consolidation! Will it Lead Long To Hit $1?

Written by: Sahana Vibhute

Written by right arrow

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

  • author facebook
  • author twitter
  • linkedin

Dec 12, 2021

news-image
Highlights

    GALA price after a successful attempt in breaking the consolidation jumps out of the downtrend to resume with an uptrend

    The breakthrough could flip the bearish divergence and assist the price to surge close to $1 in the upcoming bull rally

The weekend was sought to be pretty brutal for the crypto space, yet many ended with the accumulation. Moreover, the flip barged through the local resistance levels and is attempting to slice through the upper resistance levels. Like the other assets, the GALA price broke out of resistance, with a minor retrace happening at the press time. 

Advertisement

The asset appears to be in a pretty good position, intending to chase the high very soon. Yet a couple of critical levels needs to be tested and cleared at the earliest. Else if the price slides back into the region, it would be quite difficult to regain the bullish momentum. However, it appears to be pretty unlikely as the buyers appear to be in the upper hand. 

Also Read: Is It The Time For the Cardano(ADA) Price To Make A Come Back?

One of the popular analysts believes the asset could slice through the ATH soon. And eventually hit the milestone at $1 in the upcoming rally. 

galaprice
Source: Tradingview
  • The chart posted by the analyst shows the asset trending within the bullish flag, broke through the pattern recently
  • Following the pattern, the price trended within the triangle from the past fortnight and jumped into action quickly finding an opprtunity
  • The analyst believes the stability of the dominant crypto, Bitcoin in recent times has paved the way for many altcoins to flip the narrow trend. 
  • However, following the plot of a huge leg up followed by a minor correction or retracement could eventually assist the price to hit the milestone at $1.

On the whole, the bullish sentiments appear to have re-entered the crypto space slowly yet steadily. As the Bitcoin price is on the verge to slice through the $50K levels yet again, the markets also seem to have inculcated a positive momentum. Therefore, most of the altcoins including Ethereum may also quickly jump into action soon. And eventually, the GALA price could hit th milestone at $1 in a very short span of time. 

Show More

Was this writing helpful? myImage dislikeimage

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Back to top button