GALA Shows Promise for Breakout Despite Recent Slump, Targeting $0.71

• GALA’s price structure suggests a shift from bearish to bullish, with a potential 30X surge if momentum sustains.
• A breakout from a prolonged downtrend has positioned GALA for potential gains, contingent on holding key support zones.
• Historical cycles and market structure indicate a transition, reinforcing optimism for a long-term price expansion.

GALA’s price forecast remains intact despite recent declines, with an ambitious target of $0.71205436. Analyst Javon Marks emphasizes that the cryptocurrency still holds the potential for a breakout, delivering over 30X gains. The chart analysis highlights a strong initial uptrend, followed by a sharp correction that led to a persistent downtrend. However, a critical breakout has shifted the market sentiment, signaling a potential long-term bullish structure.

Historical Price Movements and Market Structure

Initially, GALA experienced a robust rally, pushing its price to impressive highs. However, significant selling pressure caused a steep decline, forming lower highs and lower lows. This phase created a descending trendline, reinforcing the downtrend. As the decline continued, a parallel descending channel formed, reflecting controlled retracements and periodic recoveries.

Eventually, the price broke out of this structured downtrend, marking a crucial turning point. Following the breakout, GALA entered a consolidation phase, with price movement alternating between bullish and bearish impulses. This consolidation suggested market stabilization and a potential shift towards recovery.

Current Market Sentiment and Future Projections

Presently, the market structure indicates a gradual recovery, with higher lows forming a more stable foundation. However, resistance at key levels has resulted in multiple rejections, delaying a sustained breakout. The latest price action reflects a minor pullback, possibly signaling a retest of previous support zones.

Moreover, historical price cycles suggest a transition from a bearish phase to a more neutral or bullish environment. The presence of defined supply and demand zones underscores key decision points where buyers and sellers are actively engaged. This interplay reinforces the possibility of an upward surge, aligning with Marks’ forecast of a substantial price expansion.

Besides, the technical analysis indicates that the long-term outlook remains optimistic. With structured movements and critical levels clearly defined, GALA demonstrates the potential for upward momentum. Significantly, the breakout from the previous downtrend has positioned the asset in a phase where bullish momentum could accelerate.