ðĨ GALA Falling Wedge Break Out: Volatility Coming
GALA has been one of the most underperforming alts ever since the capitulation in late June. Several related alts, see AXS and SAND, have seen big gains. One would think that GALA has a lot of bullish potential to make up for the relative weakness.
As of now, GALA is trading at the resistance of the falling wedge. Falling wedges are classically bullish reversal patterns, so we assume this will break bullish sooner or later. If we get a daily close above the resistance line we could see further upside potential, see blue targets.
If we reverse from here we can try a break out later. Be patient.
As of now, GALA is trading at the resistance of the falling wedge. Falling wedges are classically bullish reversal patterns, so we assume this will break bullish sooner or later. If we get a daily close above the resistance line we could see further upside potential, see blue targets.
If we reverse from here we can try a break out later. Be patient.
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