🎮📉 Continuous decline of currency $GALA - Will it continue or is it just a correction?
The currency $GALA has witnessed a sharp and unusual decline during today's trading, raising questions among traders:
Is it a natural correction after a wave of rise? Or the beginning of a prolonged downward wave?
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🔍 What is the reason for the decline during this period?
Clear liquidity exit from secondary currencies amidst ongoing market volatility.
Profit-taking after previous rising waves.
Activation of stop-loss orders has increased the strength of the decline.
The strong correlation of GALA with the general market movement, especially during times of weak risk appetite.
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📊 Is the decline considered a temporary correction?
There are signs supporting that the decline might be a natural correction:
There are no direct negative news about the project.
The selling volume is not unusually high compared to the decline.
The price is still moving close to an important support area.
> If the price maintains this support and new buying volumes appear… then a rebound remains a very likely scenario.
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⚠️ Will the decline continue?
The decline continues if:
The price breaks the current support with a clear close.
Selling volumes increase significantly.
Attempts to rebound fail in the coming hours.
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🎯 Summary
🔹 The current decline of $GALA tends to be a correction within the overall market movement.
🔹 A rebound is possible but requires liquidity entry and confirmation from the upcoming candles.
🔹 However, breaking the current support may indicate a longer continuation of the decline.
