With today’s 5.18% uptick, and Bitcoin seemingly approaching the tail end of its recent rut, the GALA price remans well aligned with bullish projections for the altcoin running into 2025.
Indeed, the past few days have done little to derail its recent growth streak. The altcoin still retains a 22.39% lead on its prices from this time last week, pushing the month’s gains to an impressive 79.30%.
Whats more likely, it seems, is that GALA may be entering a cooldown period before its next leg up, as trading volume has dips 7% to $386 million over the past 24 hours.
GALA Price Analysis: Is It Too Late to Buy GALA?
Notably, as the GALA price continues to follow its breakout path, it appears to have formed a narrow ascending broadening wedge with the potential for an even bigger pump in the coming month.
GALA / USDT 1D chart, ascending broadening wedge. Source: Binance.
This pattern, characterized by a series of higher highs and higher lows, supports the continuation of the recent uptrend following a decisive break of its upper trendline.
The last breakout attempt proved unsuccessful, likely credited to the Relative Strength Index (RSI) reaching oversold territory at 75 – a telling sign that a correction was in order.
As the RSI approaches more neutral territory over the past few days, the $0.3566 support seems a credible bottom before the next leg up, given it is maintained.
Conversely, GALA may continue downwards to lower support at $0.03217, testing the patterns lower boundary.
From there, an impending bullish golden cross between the 50SMA and 200SMA suggests another breakout attempt may soon be in play. A move which, in recent history, has led to significant upticks in the GALA price.
Given the pattern materializes, it sets a potential price target of $0.06655 by the year’s end, representing another 85% advance on current prices.
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