GALA / TetherUS
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Short Term Price Target: Long $0.12078 - $0.13126

389
LONG position initiated based on completion of ABC correction pattern.

Technical Analysis of Momentum Indicators
  • RSI currently at 57, indicating favorable buying conditions
  • Stochastic RSI (Daily):
  • Currently in oversold territory, with bullish signal forming with K line approaching D line crossover
  • Rate of Change (ROC) positive (above 0), confirming bullish momentum


All momentum indicators are showing signs the correction is over and now have a bullish bias.

Price Targets
  • Short-term target zone: $0.12078 - $0.13126
  • Based on 1.618 Fibonacci extension level ($0.12078)
  • Monthly resistance level ($0.13126)


Trading Plan
Maintaining LONG position based on convergence of bullish indicators, monitoring price action until the stochastic RSI reaches the overbought region on the daily at which point I will review price action for potential reversal.

Medium-term analysis and price projections to follow in subsequent idea.

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