In the wake of the hack, GALA price deteriorated, which happens for BITFINEX:GALAUSD by Sam_TCR — TradingView India

By Taaza Facts

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In the wake of the hack, GALA price deteriorated, which happens for BITFINEX:GALAUSD by Sam_TCR — TradingView India


In the wake of the hack, GALA price deteriorated, which happens to be an typical reaction of the market to the security breach. GALA’s price sank as low as $0.038 in the aftermath, but it has since recovered and stabilized at $0.04159.

Furthermore, the price has defended its support level on multiple occasions, but failed to move higher on the daily chart. The GALA price has been consistently moving below the declining trendline. This price shows an intraday decline of -4.29%, and a 24-hour trading volume of $775.43 Million.

Therefore, if the users take the hack incident seriously, and bulls lose it ground, then the price could break the support level of $0.038 massively and could reach lower levels.

On the contrary situation, if the user’s trust increases and the bulls start to enter, then it could give a breakout for the upside, and then the price could achieve targets like $0.070, and $0.0850.

The indicators, are not clearly showing anything as MACD, and RSI are consolidating, and price has been taking rejection from dynamic 50-day EMA, and support from dynamic support of 200-day EMA.


Taaza Facts

I am a multifaceted content creator with expertise in blogging, Finance, and Cryptocurrency reviews. My creative journey involves weaving captivating stories in blogs, designing aesthetically pleasing and functional websites, and dissecting the nuances of cinema. We are dedicated to sharing our passion and insights with a global audience.

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