🔥 GALA Classical Bubble Formation
GALA has been one of the hottest cryptos of late 2021. In a mere 2 weeks time, this token gained over 900% profits, all due to the metaverse-hype.
However, this metaverse fueled move has caused GALA to make a huge bubble-pattern. I'm sure that you have seen the picture on the left before, so I won't go over it too much.
Most importantly, I think that we're currently in the "despair" phase for GALA. Obviously, there's more downside potential, so I drew the purple despair area all the way to $0.08. The dotted line represents the "mean", which is indicative for now. It might hold some value if we assume that the bottom is in.
Classically, the despair phase is followed up by a bullish rally. Unsure when this rally will come, but I'm willing to bet that it will start at some point in the coming 3 months. If BTC manages to move past 40k, we might see more funds flowing towards alt. Let's see where GALA will bring us.
Happy trading!
However, this metaverse fueled move has caused GALA to make a huge bubble-pattern. I'm sure that you have seen the picture on the left before, so I won't go over it too much.
Most importantly, I think that we're currently in the "despair" phase for GALA. Obviously, there's more downside potential, so I drew the purple despair area all the way to $0.08. The dotted line represents the "mean", which is indicative for now. It might hold some value if we assume that the bottom is in.
Classically, the despair phase is followed up by a bullish rally. Unsure when this rally will come, but I'm willing to bet that it will start at some point in the coming 3 months. If BTC manages to move past 40k, we might see more funds flowing towards alt. Let's see where GALA will bring us.
Happy trading!
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