The GALA token downturn that began last week has continued as the price has dropped up to $0.03936.
The price is now at $0.03936, and further devaluation is to follow if the selling activity experiences a further rise.
The short-term support for GALA/USD pair is placed at $0.03823.
Gala token is indicating a decline in price today. The bears have won the leading position as the selling pressure has formed again and the price is decreasing again. The value of cryptocurrencies is currently declining as the price function is moving downward; it is now settling at a $0.03936 low and has lost more than 11.01% in the last 24 hours.
In the 1-day chart, Gala price analysis reveals lower highs and lower lows, which is a sign of bearish momentum. It’s currently trading in a descending triangle pattern where the resistance level has been established at $0.04491 and the support level has been set at $0.03823. A break below the support level of $0.03823 signaled the start of the downtrend, and if GALA is unable to maintain the short-term trend, additional bearish pressure will likely be applied over the next several days.