Gala / US Dollar Cryptocurrency Forecast
High volatility in Gala / US Dollar cryptocurrency price on Thursday which ended trading at $0.0436
(Updated on Apr 18, 2024)
The Gala / US Dollar cryptocurrency price gained 6.68% on the last trading day (Thursday, 18th Apr 2024), rising from $0.0409 to $0.0436. During the last trading day the cryptocurrency fluctuated 12.47% from a day low at $0.0393 to a day high of $0.0442. The price has fallen in 7 of the last 10 days and is down by -33.17% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 147 million more shares were traded than the day before. In total, 186 million shares were bought and sold for approximately $8.09 million.
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0414 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 104.56% during the next 3 months and, with a 90% probability hold a price between $0.0847 and $0.188 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GALAUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The Gala / US Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.0582. On a fall, the cryptocurrency will find some support from the short-term average at $0.0435. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -39.85%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Gala / US Dollar cryptocurrency
Gala / US Dollar finds support from accumulated volume at $0.0421 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0049 between high and low, or 12.47%. For the last week, the cryptocurrency has had daily average volatility of 11.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GALAUSD) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Gala / US Dollar to open at $0.0424, and during the day (based on 14 day Average True Range), to move between $0.0353 and $0.0519, which gives a possible trading interval of +/-$0.0083 (+/-19.13%) up or down from last closing price. If Gala / US Dollar takes out the full calculated possible swing range there will be an estimated 38.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0442 (1.47%) than the support at $0.0421 (3.44%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Gala / US Dollar cryptocurrency A Buy?
Gala / US Dollar holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.
Current score: -2.003 Sell Candidate Unchanged
Predicted Opening Price for Gala / US Dollar of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.0424 ( 2.83%) | $0.0436 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GALAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0473 | 8.41 % | |
| R2 | 0.0454 | 4.12 % | ||
| R1 | 0.0442 | 1.46 % | ||
| Current price: | 0.0436 | |||
| Support | S1 | 0.0405 | -7.12 % | |
| S2 | 0.0393 | -9.77 % | ||
| S3 | 0.0375 | -14.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0476 | 9.13 % | |
| R2 | 0.0456 | 4.59 % | ||
| R1 | 0.0442 | 1.47 % | ||
| Current price | 0.0436 | |||
| Support | S1 | 0.0421 | -3.44% | |
| S2 | 0.0374 | -14.22% | ||
| S3 | 0.0337 | -22.71% |
FAQ
Click here for our free guide on how to buy Gala / US Dollar Cryptocurrency.
