- Gala dropped 35% this week, hitting a monthly low of $0.032.
- Key support levels include $0.031, $0.0263, and $0.0216 for potential recovery.
- Bulls need to reclaim $0.055 to spark a reversal toward $0.065.
Gala (GALA) has taken a steep fall this month, dropping to the lowest level in four weeks. A 35% weekly decline has shaken investor confidence, leaving traders on edge. Bears maintain control of the market, while buyers search for opportunities to regain ground.
Rejections Spark a Rapid Downturn
November started strong for Gala, with a surge of over 100% during the first week. However, rejection at a key level stopped the rally, and the price began to move sideways. Last week, bearish pressure pulled the price below $0.06, pushing it down to $0.04. A brief recovery saw the price climb to $0.055, but sellers rejected further advances.
This rejection triggered steady declines, with the price hitting $0.032 today—the lowest point in a month. The $0.03 level, a critical support zone from the previous rally, now stands as the market’s key focus. A strong defense of this level could bring buyers back and spark bullish momentum.
Key Levels Offer a Path Forward
A deeper correction may drive the price to $0.02 if bearish momentum continues. Support levels to watch include $0.031, $0.0263, and $0.0216. On the upside, reclaiming $0.0405 could signal a potential recovery. Breaking above $0.055 might push the price toward $0.065, opening the door to further gains. Gala’s current price action reflects ongoing volatility.
The $0.03 level remains crucial for buyers to hold and regain momentum. While bears still control the market, opportunities for recovery could appear if buyers defend critical zones. Traders should stay alert, as the coming days may reveal whether a reversal is on the horizon or further losses await.
Crypto News Land, also abbreviated as “CNL”, is an independent media entity – we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
