In recent weeks, Galxe coin ($GAL) has experienced remarkable growth, boasting a surge of over 70% in the last 30 days and a notable 35% increase in the past 7 days.
However, the coin’s current trajectory shows a 6% decline over the past 24 hours, accompanied by a significant 70% decrease in its 24-hour trading volume.
The price of Galxe coin has encountered a major resistance level at $3.50, proving challenging for buyers to surpass despite multiple attempts. Conversely, a support level is observed at $3.30, signaling a potential downturn if the price falls below this threshold.
Amidst the recent decline, onchain data from Lookonchain indicates that Hashkey, a prominent trader known for strategic buying and selling, has deposited a substantial amount of 559,964 $GAL ($1.88M) to Binance within the past day. This move suggests the possibility of Hashkey offloading their GAL holdings.
Hashkey deposited 559,964 $GAL($1.88M) #Binance 2 hours ago.#Hashkey is a smart trader, always buying low and selling high.https://t.co/T0jBSAvoZE pic.twitter.com/DYQOCUQOKW
— Lookonchain (@lookonchain) February 19, 2024
Galxe Still Maintains Good Outlook Despite Market Turn down
Despite the current downturn, technical analysis paints an optimistic picture for Galxe cryptocurrency’s overall outlook.
While the coin’s price has dipped below $3.50 and is currently trading at $3.10, analysts anticipate that it will likely maintain a price level above $3 throughout the week.
The recent fluctuations in Galxe coin’s price reflect the inherent volatility and dynamic nature of the cryptocurrency market.
As investors navigate through periods of highs and lows, strategic insights from onchain data and technical analysis serve as valuable tools in understanding market trends and making informed decisions.
As Galxe coin continues its journey amidst market fluctuations, investors and traders remain vigilant, monitoring developments and adapting strategies to navigate the ever-evolving landscape of digital asset trading.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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