Recent changes in the cryptocurrency market have led many tokens, including GALA and SAND, to experience growth following significant declines.
Gala (GALA) Analysis
On the daily chart, GALA is tracing a Bearish Cypher pattern. This well-known harmonic pattern often precedes a bullish move towards point D before any potential reversal occurs. The pattern began from point X near $0.02523 on February 14, dropped sharply to point A, bounced to B, and then slid down to point C, which bottomed around $0.011 on April 7. Currently, there is solid upward momentum forming the CD leg. If the structure completes, point D is expected near $0.02218, the 78.6% Fibonacci retracement of the XC leg, indicating a potential upside of around 28% from current levels near $0.01729.
The Sandbox (SAND) Analysis
SAND is exhibiting a nearly identical Bearish Cypher structure. From a peak around $0.41 on February 14 (point X), SAND moved down to point A, then retraced to B, and dropped to point C, bottoming near $0.2132 in early April. Observing the price action suggests a bullish continuation. The D point aligns with the 78.6% Fibonacci level of the XC leg at $0.3760, pointing to a potential 23% upside from current levels around $0.30. Key resistance lies at the 61.8% retracement near $0.3385 — a level bulls must clear to keep the momentum alive.
Future Outlook
While both GALA and SAND remain far below their all-time highs, the presence of these harmonic Cypher patterns provides a roadmap for potential gains in the short term. As long as current trends hold and momentum stays positive, a continued rebound seems plausible. However, traders should closely monitor the D completion zones, as harmonic patterns often signal a potential reversal after the final leg is completed.
Given the emerging harmonic patterns, GALA and SAND may continue their recovery, which is of interest to cryptocurrency market observers. Nevertheless, it is vital to consider the risks associated with the potential for subsequent reversal.
