The cryptocurrency market continues to face challenges due to escalating geopolitical tensions, particularly between Israel and Iran.
Market Overview
Cryptocurrency assets are showing declines. Ethereum (ETH) has lost a significant portion of its value, dropping from a monthly high of $2,877 to the current $2,500. Following suit, other altcoins are also displaying negative dynamics.
GALA Analysis and Movement
Gala (GALA) has shown a 3% decline over the past week and nearly 28% for the month. However, chart analysis reveals a potential bullish development resembling a historical structure seen in late 2024. At that time, GALA formed a classic falling wedge following a prolonged downtrend, and the current market state shows a similar movement.
GALA Forecasts
If a similar structure repeats, GALA may be on the verge of a significant upside move. A strong bounce back above the current support zone could lead to price rallying toward the $0.050 area. However, traders should remain cautious, as market conditions remain fragile due to macroeconomic uncertainty.
Thus, under current geopolitical tensions, the cryptocurrency market shows clear signs of instability, while GALA and other assets may be on the cusp of potential recovery.
