The bullish momentum is driven by an increase in trading volume and demand for GALA tokens. GALA's market cap is currently $260 million and it is ranked #97 on CoinMarketCap.
According to a daily price analysis, the buyers are in control of the market and if they maintain their momentum, we may see a surge in GALA's price towards the next resistance level. The moving average value is currently at 0.022, indicating the buyers are in control. The Bollinger bands are also widening, indicating increasing market volatility. The relative strength index is trading at an upward slope, hinting at buying activity.
The four-hour price analysis also supports the buyers as the price has increased in the first four hours of trading. The upper Bollinger band is placed at 0.0373 and the lower Bollinger band is at 0.0144, indicating that the bullish trend is likely to continue. The relative strength index is rising and the moving average is at 0.030.
Conclusion
The GALA/USD pair is in a bullish trend and has the potential to go higher if the buyers maintain their momentum. Traders should consider the upcoming resistance levels to capitalize on this trend.
