Gala Price Analysis – Tracking the WXYXZ Theory

Recent Price Action:

• Gala rejected off resistance at $0.0447, as expected.
  
• The price is now looking to back-test the top of the channel at $0.04010. Lets watch to see if we find support at the top of the channel.
  

Short-Term Target:

• If the channel holds as support, we could see a price target of $0.04782, completing the X wave within the WXYXZ corrective structure.
  

Technical Indicators Analysis:
Stochastic RSI:

1. Daily Timeframe: The stochastic RSI is currently bearish, signaling caution for the medium term.
   
2. 4-Hour Chart: Contrarily, the stochastic RSI is in the oversold region, supporting a short-term upward impulse to complete the X wave.
   

Weekly Timeframe:
The stochastic RSI on the weekly is beginning to turn bullish. This is an exciting signal, indicating that Gala could be building momentum for a significant move.

Next Pivotal Moment:
Scenario A: X Wave Completes:

• After hitting the X wave target ($0.04782), Gala faces a crucial decision point.
  
• The outcome will depend on whether:
  
• The price continues upward, confirming strength. Or it retraces into Wave Z, signaling weakness.
  

Scenario B: Bitcoin's Influence:

• Bitcoin's price action may play a deciding role. If Bitcoin dumps (as it might, given current market sentiment), Gala could follow, aligning with a Wave Z retracement.
  
• However, if Bitcoin stabilizes or shows strength, Gala may defy expectations and break upward.
  

Broader Market Context:
A potential "trap" scenario could play out across the market, where traders are lured into positions before a major Bitcoin-driven move downward. This would align with a Wave Z retracement for Gala.

Weekly Outlook:
The weekly stochastic RSI turning bullish for Gala is a huge factor to monitor. It suggests that even if a Wave Z retracement occurs, it may be a final consolidation before a significant breakout.

Conclusion:

• In the short term, expect an upward impulse toward $0.04782 as the X wave completes, assuming the channel holds support.
  
• The pivotal moment comes afterward: whether Gala continues upward or retraces into Wave Z will depend heavily on Bitcoin and broader market conditions.
  
• Next Week: Gala's weekly stochastic RSI hints at potential fireworks, whether it's a breakout or a dump. Stay prepared for either scenario.