In this GALA technical analysis, we will examine the current price action, trading volume, key levels and indicators for GALA-USDT. GALA is a decentralized cryptocurrency that utilizes a proof-of-stake consensus algorithm, allowing for faster and more energy-efficient transactions compared to traditional proof-of-work algorithms. With its unique governance structure, GALA holders have the ability to vote on proposals for the development and growth of the network, giving them a direct say in its future. By prioritizing community involvement and decision-making, GALA aims to create a more inclusive and sustainable cryptocurrency ecosystem.
GALA Price Overview:
As of October 02, 2023, GALA is trading at approximately 0.01474 USDT. Let’s dive into the detailed price action for GALA-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.01509 |
| High (H) | 0.01567 |
| Low (L) | 0.0144 |
| Close (C) | 0.01474 |
| Volume (C) | 917,138,427.00 |
- Open (O): The opening price for today’s trading session was approximately 0.01509 USDT.
- High (H): GALA reached a daily high of around 0.01567 USDT.
- Low (L): The daily low for GALA-USDT was approximately 0.0144 USDT.
- Close (C): At the time of analysis, GALA is trading near its daily close of 0.01474 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -2.32% |
| 3D Change (%) | 2.65% |
| 7D Change (%) | 8.94% |
| 30D Change (%) | -20.41% |
| 90D Change (%) | -41.53% |
| YTD Change (%) | -11.52% |
Over the past three days, GALAUSDT has increased by approximately 2.65%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 8.94%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with GALAUSDT maintaining a downward trend of approximately -20.41%, despite intermittent fluctuations. Examining the last 90 days, GALAUSDT has witnessed substantial fall of approximately -41.53%, reflecting strong long-term confidence. Year-to-date, GALAUSDT has steadily depreciated by around -11.52%, 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-USDT 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 0.58256.
- Momentum score is -0.2041.
GALA USDT Technical Analysis
GALA Trading Volume:
The trading volume for GALA (GALA) over the past 24 hours has been significant, with approximately 917,138,427.00 USDT 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-USDT is currently in the low zone, around 40.47514. This suggests that GALA is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
GALA (GALA-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT 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.
