Bearish Confirmation On Four Hourly - $0.049 - $0.045
2024-12-09
Category: gaming

The recent closure of the 4-hour candle below the 26-day Exponential Moving Average (EMA) suggests a bearish shift in the short-term trend, with the 26-day EMA now acting as resistance. This aligns with the larger daily trend, which also appears bearish (refer to previous idea).

I am monitoring potential support for possible price bounces at -

 
  $0.04967 / 0.50 Fib Level
  $0.04568 / 0.618 Fib Level
  

Follow if you would like regular updates on Gala posting atleast once a day.

 Key Considerations: 

Buy orders on Binance for Gala are building at $0.05, which might act as a strong support level. Keep in mind that the daily closure tomorrow will confirm bearish bias on the daily, given where the RSI, Stochastic RSI and ROC indicators are at, this correction may take a few days even a few weeks to play out so be patient and wait for reactions at fib levels above.