A widely followed crypto analyst suddenly becomes bullish on Gala (GALA) and two other altcoins.
Pseudonymous crypto trader The Flow Horse tells its 186,500 followers on the social media platform X indicate that the native asset of the blockchain-based gaming platform Gala is on an upward trend.
He says key metrics such as cumulative volume delta (CVD), an indicator that aims to identify differences by comparing buying and selling volumes over time, are bullish.
‘I bought some GALA.
• Similar to ‘drift of death’ for short films.
• That increase is all spot, as evidenced by widely varying spot, perp (perpetual future contracts) CVDs.
• Gaming sector, which hasn’t really had its day in the sun.
• Trend strong and intact 20-day SMA (simple moving average) + one SD (standard deviation) anchor VWAP band holding (volume weighted average price).
Gala is trading at $0.0301 at the time of writing, up 1.3% in the last 24 hours.
Then the trader say that he is optimistic about the decentralized exchange (DEX) dYdX, after it turned an important resistance level into support, among other things.
“DYDX unlock is over and spot CVD is roofing while the culprit is still fading.
• DEX story is getting stronger by the week.
• Technical retest of the most crucial level of the past two years, now support for resistance.
Patience. Higher.”
At the time of writing, dYdX is trading at $3.08, down 1% in the last 24 hours.
Finally, the trader say that Celestia (TIA), a blockchain built to allow anyone to launch their own decentralized networks at minimal cost, remains on a massive uptrend.
“Bought more TIA.
• This hasn’t really made anyone chase or call it off yet.
• Derivatives (derivatives) open interest is where it was when it was half the price.”
TIA is trading at $10.94 at the time of writing, up 27.8% in the last 24 hours.
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Generated image: Midjourney