$GALA $GALA 3W: Epic Descending Channel Compression – Breakout or Breakdown? 🚀📉⚠️
Gala Games token is coiling in a massive 3-year descending channel on the weekly chart, with price hugging the lower boundary after a brutal 90%+ drawdown from 2021 ATH (~$0.83). The blue trendline has held as dynamic support since mid-2022, but recent candles show weakening momentum with lower highs capping at $0.10–$0.15 resistance.
Current price ~$0.0073, right on that channel floor – a make-or-break zone amid broader altcoin rotation.
Setup analysis:
✅ Channel intact with 5+ touches on upper/lower lines
✅ RSI monthly at 28 (oversold, similar to 2022 bottom bounce)
✅ Volume contracting sharply – classic pre-move silence
✅ MACD histogram flattening, hinting at potential bullish cross
Outlook: Bullish breakout above $0.015 invalidates bear channel, targeting $0.04–$0.06 (Fib 0.618 extension). Deeper dip risk to $0.004–$0.005 if support cracks (monthly close under $0.006). Watch for volume surge on upside for confirmation.
Targets:
→ $0.04–$0.06 short-term (channel projection)
→ $0.12–$0.18 mid-2026 (2024 highs retest)
→ $0.30+ full cycle revival
Bear trap potential if gaming narrative reignites. Stay nimble.
#GALA #GalaGames #AltcoinAnalysis