Key Takeaways
- The GALA price closed the previous day’s trade at INR 10.58 with a market capitalization of INR 9.44 Cr and a circulating supply of 698 Cr GALA
- Gala price had laid a notable consolidated rally aiming to slice through the consolidation in the coming days, but the recent slash hindered the rally
- The asset may now accumulate strength for some time and finally could attempt a price recovery by the end of the monthly trade
GALA Price Comparison Table
| Crypto-Asset | Start-Month Price (April) | Mid-Month Price (April) | End-Month Price (April) | % Change |
| Gala (GALA) | INR 19.88 | INR 15.36 | INR 10.06 | -97.61% |
* As of 06-May-2022
Check out the Latest Prices, Charts, and Data of GALA/USDT.
GALA Price Technical Analysis at a Glance
| Short-Term(1hr) | The asset was consolidating from sometime, and hence with ease in selling pressure, the GALA price could undergo a small rise in the short-term |
| Mid-Term(4hr) | After a brief recovery, the GALA price may ignite a fresh descending trend shedding another 5% to 6% of the gains |
| Long-Term(D) | The price is diving deep into the bearish well with minor possibilities of a flip towards the local resistance |
Technical Indicators & Pivot Levels
Technical Indicators
| Technical Indicators | Value(1D / 1M) | Action (1D / 1M) |
| Relative Strength Index(RSI) | 35.88 / 100 | Sell / Overbought |
| MACD(12,26) | -0.021 / 0.05 | Sell / Buy |
| Average Directional Index(ADX) | 41.04 / 21.77 | Sell / Sell |
| Bull-Bear Power | -0.033 / -0.0468 | Sell / Sell |
Pivot Levels
| Pivot Levels | Short-Term(D) | Mid-Term(W) | Long-term(M) |
| Moving Average(MA)-50 | INR 16 | INR 12.32 | INR 3.21 |
| Moving Average(MA)-200 | INR 21.13 | INR 3.06 | INR 0.77 |
| Resistance | INR 15.91 | INR 20.58 | INR 21.17 |
| Support | INR 10.55 | INR 5.66 | INR 4.85 |
Oscillators
| Oscillators | Short-Term(D) | Mid-term(W) | Long-Term(M) |
| Stochastic Oscillator | 34.09 | 29.47 | 0.00 |
| Ultimate Oscillator | 44.46 | 35.34 | 44.52 |
| Average True Range(ATR) | 0.0162 | 0.060 | 0.1419 |
| CCI | -92.17 | -173.02 | -2.08 |
The fresh slash has eliminated the possibility of a bullish trend in all the time frames. All the indicators are currently extremely bearish and hence the price is expected to deep dive into a huge bearish trend ahead. Moreover, the asset is highly volatile and hence a huge move irrespective of the direction may be fast approaching but maybe a short-lived one.
On the other hand, the rally lags strength and hence may not attempt a strong flip and continue to hover within limited ranges for a long time. However, minor possibilities of a bullish flip are seen as the buying pressure is expected to accumulate in the larger time frame.
Additional Read: MATIC Price Prediction Quaterly
GALA Price & Technical Analysis for May-July
Source: Tradingview
- The GALA price maintains its trend within the descending triangle and may also slice through the lower support and hit the levels below INR 8
- As the buyers are expected to remain passive for some time, the asset may undergo a larger consolidation, maybe for another week or 10 days, and may lay down a significant uptrend by the end of May trade
- The price further may attempt to break out of consolidation since the beginning of June trade and try to seal off the levels above INR 15
- If the bears stay aloof, then the price may move ahead to test INR 20 in July, else may remain within the consolidated range below these levels for a longer time.
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The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.
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