【$GALA Signal】Hold Off - Testing Support but Structure Not Stable

$GALA is testing the key support zone, but the overall structure remains in a downtrend channel, and bearish momentum has not yet exhausted.

🎯 Direction: Hold Off

Market Analysis: 4H candles are consecutively closing bearish, the price has broken below the EMA20 (0.0040) and moved away, RSI (32.49) is in oversold territory but not yet exhausted, indicating downward momentum persists.

Hardcore Logic: The key contradiction is that while the price is falling, open interest (OI) remains stable, and the funding rate (-0.0234%) is negative. This is not typical of major players offloading (OI should decrease), but more like a short squeeze where bullish leverage is being wiped out. However, the deep imbalance (13.78%) shows buy-side depth far exceeds sell-side, hinting at institutional support and accumulation below.

Bull-Bear Battle: The current price of 0.00381 is testing the strongest buy wall in the order book, but the 4H candlestick body closes below this level, indicating selling pressure still dominates. Without clear signals like a “volume-driven lower shadow” or “OI rising sharply with price increase” indicating a bottom, taking an opposite position and going long is highly risky.

Trading Plan: Wait for two signals: 1. Price volume recovery above 0.00392 (former low turning into resistance) and stabilize, then consider long positions on the right side. 2. Or if the price forms a clear 4H bullish engulfing or hammer pattern in the 0.0037-0.0038 range, with OI rising simultaneously, then lightly position on the left side. Currently, no high-probability entry points from reliable models, so hold off and observe.

Trade here 👇 $GALA

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