Over the last two days, the increase in demand has resulted in a bull run in GALA prices, teasing a breakout of the demand zone at $0.065. Key Technical Points: The GALA prices jumped by 8.82% in the last 24 hours. The bull cycle prepares to exit the falling channel and beat the 50-day SMA. The 24-hour trading volume of GalaGames is $495 Million, indicating a rise of 119%. Past Performance of GALA GALA price chart shows a long-coming downtrend within a falling channel pattern accounting for a price drop of 55% within the last two months. The downfall breaks the $0.050 psychological mark, but the recent bullish reversal has the prices challenging the resistance trendline. Additionally, the bull cycle repairs to beat the 50-day SMA slightly below the supply zone at $0.065. Source – Tradingview GALA Technical Analysis GALA price action shows a 13% jump in the last two days, but the higher price rejection in the daily candle from the 50-day SMA shows a bearish reaction. However, the increased trading volume supports the bullish breakout theory. Hence traders should wait for the price action confirmation before taking a bullish trade. The underlying bullish momentum increase is evident from the RSI slope crossing the halfway line. As a result, the technical indicator projects a high possibility of a falling channel breakout. The MACD indicator shows the fast and slow lines avoiding a downfall as the lines regain the bullish alignme...
