In this GALA technical analysis, we will examine the current price action, trading volume, key levels and indicators for GALA-BTC. GALA is a decentralized cryptocurrency that utilizes a proof-of-stake consensus algorithm, which allows for faster and more energy-efficient transactions compared to traditional proof-of-work algorithms. GALA’s unique governance model allows holders of the cryptocurrency to vote on proposals for its development and growth, giving them a direct say in the future of the project. With its focus on community involvement and sustainability, GALA is well positioned to become a leading player in the decentralized finance (DeFi) space.
GALA Price Overview:
As of October 02, 2023, GALA is trading at approximately 0.0 BTC. Let’s dive into the detailed price action for GALA-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.0 |
| High (H) | 0.0 |
| Low (L) | 0.0 |
| Close (C) | 0.0 |
| Volume (C) | 13,142,351.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0 BTC.
- High (H): GALA reached a daily high of around 0.0 BTC.
- Low (L): The daily low for GALA-BTC was approximately 0.0 BTC.
- Close (C): At the time of analysis, GALA is trading near its daily close of 0.0 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.85% |
| 3D Change (%) | -1.85% |
| 7D Change (%) | 1.92% |
| 30D Change (%) | -25.35% |
| 90D Change (%) | -35.37% |
| YTD Change (%) | -47.52% |
Over the past three days, GALABTC has fallen by approximately -1.85%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 1.92%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with GALABTC maintaining a downward trend of approximately -25.35%, despite intermittent fluctuations. Examining the last 90 days, GALABTC has witnessed substantial decline of approximately -35.37%, reflecting strong long-term confidence. Year-to-date, GALABTC has steadily dropped by around -47.52%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
GALA Live Chart:
You can access a live price chart for GALA-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.61948.
- Momentum score is -0.25352.
GALA BTC Technical Analysis
GALA Trading Volume:
The trading volume for GALA (GALA) over the past 24 hours has been significant, with approximately 13,142,351.00 BTC traded against GALA. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): GALA is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): GALA is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for GALA-BTC is currently in the low zone, around 38.9157. This suggests that GALA is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
GALA (GALA-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
