APE and GALA’s Downtrend Could Soon Become Profitable

• ApeCoin (APE) and Gala (GALA) have seen declines of 21.81% and 30.39% respectively.
• Santiment suggests APE and GALA are underbought and may soon recover.
• The Moving Average Convergence Divergence indicates a potential recovery for GALA.

Over the past month, ApeCoin has experienced a 21.81% decline in value. Gala , another alternative cryptocurrency, has also seen a comparable downturn. As per CoinMarketCap data, GALA’s value has dropped by 30.39% in the last 30 days, indicating that many of its investors are dealing with unrealized losses.

Nonetheless, the on-chain analytic firm Santiment recently indicated that GALA and APE cryptocurrencies might soon be relieved. Santiment’s update suggests that these two cryptocurrencies are currently underbought, implying that they could be trading at a value lower than their true potential worth.

Given the circumstances above, Santiment has indicated that the negative returns may soon experience a correction, potentially resulting in positive outcomes for APE and GALA.

ApeCoin (APE)

The 4-hour APE/USD chart indicated that the cryptocurrency lacked a defined trajectory. On September 26, bullish activity drove APE’s value up to $1.13. However, this surge was short-lived due to profit-taking, which subsequently caused a downturn, reducing APE’s value to $1.11.

The Relative Strength Index (RSI) for APE is 44.43, indicating a lack of significant momentum. If the RSI surpasses the 50.00 threshold, APE’s value could recover to $1.13. A further increase in the RSI could push the token’s value to a maximum of $1.17.

Nonetheless, the possible increase might also be contingent on the Chaikin Money Flow (CMF). At the moment of drafting this, the CMF stood at 0.03. Given that this figure is nearly zero, it implies that there was almost an equal amount of buying and selling pressure on APE. Therefore, the CMF must apply a buying pressure that surpasses the selling demand for APE’s price to rise.

Gala (GALA)

The daily chart indicated a distinct bearish pattern for GALA with virtually no recovery signs. Despite the reduced volatility, GALA was in an oversold state. This was due to the lower limit of the Bollinger Bands (BB) nearing the price point of $0.013.

The Moving Average Convergence Divergence (MACD) indicates a potential recovery for GALA. As of this writing, the MACD stands at 0.0001. This positive MACD value suggests a growing upward momentum. Therefore, it might be advisable for traders to avoid initiating short GALA contracts.

The blue and orange dynamic lines further emphasized the possibility. Despite both lines being in the negative zone, the blue line had surpassed the red one. This indicates a resurgence of buyers in the market. Should the buying momentum persist, GALA could hit a value of $0.015.