GALA Games Coin Price News Today – Technical Analysis Update, Elliott Wave Price Prediction!

GALA Games Coin Price News Today – Technical Analysis Update, Elliott Wave Price Prediction!

[Music]
hello and welcome to another update
video about Gala yeah Gala hasn’t really
moved much since yesterday actually
pretty boring price action at the moment
um it was quite interesting last few
days obviously we had a bit of a small
pump there and the move from the um
Sunday low here the 14th or today the
13th of April was quite interesting was
quite um quite yeah was 50% not too bad
in terms of you know volatility but the
coin especially Gala like many other
coins though has actually reached a key
resistance level now so we’ve reached
here the area just below the 100%
extension level typically to unlock more
bullish potential these coins need to
break above their 100% extensions so how
do we calculate that well as you can see
on the chart the yellow wave count
allows for the possibility of one more
low that just means that from a from a
structural point of view the correction
while it could be
complete price structure allows
definitely for one more low in the
c-wave as an ending diagonal a wave down
b-wave rally c-wave down that c-wave
could be a five-wave move in an ending
diagonal the wave four is quite
strong but not too strong okay not in a
diagonal I mean it’s reached basically I
haven’t shown that as resistance here
but it’s reached the area between the
yeah you 50% retracement and 61.8
retracement that’s just from a
retracement point of view from a
resistance point of view What a Way four
should normally do in an Impulse we
wouldn’t normally want it to see uh to
to break above 4.8 cents the 50%
retracement but in a diagonal we can
allow for a little more um and then
again you know this 100% extension level
that’s based on the internal structure
of that corrective rally it’s clearly
only a three-wave rally
a-wave b-wave c-wave and as long as we
don’t see a five wve advance and only
see three waves it keeps the door open
for lower so this c-wave is the target
for that ideal targets are measured
based on the length of waves a and then
a depth of wave B and then we get ideal
Target for wave C and typically we say
it’s like the 100% extension so that’s
also where we had previous swing lows
here yeah especially here and here so
there is some resistance and important
to recognize that such a seawave often
fails at the 100% extension so maybe
there’s a final push then we get a
rejection at the moment I don’t see a
strong rejection it’s more like
consolidation below resistance but most
coins that I’m tracking have reached
that critical level or very close to it
that means if that fifth wave to the
downside in the yellow count is
unfolding then it should ideally start
from here and downside levels to watch
are 3.3 cents and 2.6 cents and in
between the 3 Cent level that’s the 61.8
extension of the a-wave to the downside
which started on the 10th of March again
another common Target it’s just sort of
this area then that I would be
watching okay for a possible Target to
the
downside yeah and obviously the low
could be in as you always uh as you
always or as you know we’re always
looking for five wave move to the upside
to confirm that a low has formed we need
five waves we only see three and it’s
corrective at the moment that definitely
still leaves the door open for lower but
if the price can form five waves that
reach the 1.618 extension to the upside
which is shown there as a 6.5 Cent level
well that would be good confirmation
that a low is in until then yeah keep
the door open for lower and um that
means we’re now in resistance I think
the risk is high from here the risk is
quite high from here that we come down
especially the distance to the Target is
quite high now given that we’ve moved
away from it quite a lot haven’t really
made any higher higher lows yet or
higher highs and which level would open
the trapo for low I think it would take
actually a break below that b-wave low
to indicate really that wave five has
started there would be a break below
3.87 cents that is the confirmation
level where obviously this micro count
in white will get formally
invalidated yeah I mean that’s what
we’re watching at the moment I mean
there is one support level before that
we can track it’s a 78.6 retracement
it’s just not so reliable 4 Cent level
if the 4 Cent level
breaks the the trapo starts to open to
possibly yeah 3 cents or 2.6 cents
that’s my update about Gala I hope you
like the update if you did please hit
the like button leave a comment and
subscribe and if you really like the
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for additional content thanks a lot for
watching bye-bye

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GALA Games Coin Price News Today – Technical Analysis Update, Cryptocurrency Price Update! In this video I talk about the GALA price breakout today and I also provide a price prediction.

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Financial Disclaimer:
I am not a financial advisor. The ideas presented in this video are personal opinions and for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make. Ideas presented in this video are my opinions at the date of filming and may have changed in the future.