Gala / US Dollar Cryptocurrency Forecast
Big movements in Gala / US Dollar cryptocurrency price on Wednesday moving 15.48% between high and low
(Updated on May 01, 2024)
The Gala / US Dollar cryptocurrency price gained 0.0493% on the last trading day (Wednesday, 1st May 2024), rising from $0.0406 to $0.0406. During the last trading day the cryptocurrency fluctuated 15.48% from a day low at $0.0397 to a day high of $0.0458. The price has been going up and down for this period, and there has been a -18.43% loss for the last 2 weeks. Volume fell on the last day by -105 million shares and in total, 29 million shares were bought and sold for approximately $1.18 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the cryptocurrency is expected to rise 51.84% during the next 3 months and, with a 90% probability hold a price between $0.0617 and $0.136 at the end of this 3-month period.
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GALAUSD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gala / US Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0453 and $0.0526. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -43.96%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Gala / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0386 and $0.0374. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Gala / US Dollar finds support just below today's level at $0.0386. If this is broken, then the next support from accumulated volume will be at $0.0374 and $0.0337.
This cryptocurrency may move much during the day (volatility) and with periodic low trading volume this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0061 between high and low, or 15.48%. For the last week the cryptocurrency has had daily average volatility of 10.18%.
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 Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Gala / US Dollar to open at $0.0420, and during the day (based on 14 day Average True Range), to move between $0.0346 and $0.0467, which gives a possible trading interval of +/-$0.0060 (+/-14.89%) up or down from last closing price. If Gala / US Dollar takes out the full calculated possible swing range there will be an estimated 29.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0421 (3.64%) than the support at $0.0386 (5.07%), 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?
The Gala / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe Gala / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -4.270 Sell Candidate Unchanged
Predicted Opening Price for Gala / US Dollar of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $0.0420 ( 3.46%) | $0.0406 |
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 | 0.0482 | 18.58 % | |
| R2 | 0.0458 | 12.80 % | ||
| R1 | 0.0444 | 9.24 % | ||
| Current price: | 0.0406 | |||
| Support | S1 | 0.0397 | -2.31 % | |
| S2 | 0.0382 | -5.88 % | ||
| S3 | 0.0359 | -11.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0476 | 17.13 % | |
| R2 | 0.0456 | 12.26 % | ||
| R1 | 0.0421 | 3.64 % | ||
| Current price | 0.0406 | |||
| Support | S1 | 0.0386 | -5.07% | |
| S2 | 0.0374 | -7.93% | ||
| S3 | 0.0337 | -17.04% |
FAQ
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