3 coins to keep an eye on | Issue #314

GALA climbed 172% from its November lows, threatening bears' stops above May and June's highs.

Saturday's bullish daily gap at $0.04240 could offer support. In the lower quarter of this gap, November 24th's high at $0.04125 might see more sensitivity.

Traders "selling the news" of Thursday's release may prompt a retracement into this gap. However, bears could be cautious since bullish activity in Bitcoin could overpower this selling, dragging the price upward.

A break of this support might dig into November 25th and 26th's accumulation. Inside this accumulation, November 28th's bullish gap at $0.03840 may mark the potential retracement's low.

June 5th's bearish daily rejection at $0.04683 serves as the bear's last line of defense before a rally through bears' stops above June 5th's, May 22nd's, and April 23rd's daily swing cascading swing highs. 

Above these highs, a significant part of April 12th's bearish daily gap remains unfilled. Inside this daily gap, April 8th's bearish weekly gap spanning from $0.05287 to $0.05383 offers higher time frame resistance.

JTO climbed 115% from its November low before beginning a consolidation in late November.

Bulls could find support near November 26th's bullish daily rejection at $3.4466. The 18 EMA adds confluence to this level, which overlaps July's monthly high. Traders hesitating to buy before Saturday's unlock might encourage the price to revisit this support.

If the price falls through this support, it may find new support in November 21st's bullish daily gap and November 14th's bullish accumulation, beginning at $3.1992. November 17th's swing high and the 50 EMA overlap with this gap at $3.1066, offering extra strength. Reaching this support would sweep bulls' stops under November 26th's swing low at $3.1992 before a potential rally.

May 29th's swing high at $3.9656 marks the approximate location of bears' stops. Slightly above this high, May 13th's weekly distribution confluences with May 22nd's bearish daily gap, which may create resistance.

Continuation through this zone could see profit-taking from bulls between $4.3665 and $4.6544, the lower half of May 13th's weekly candle wick. May 17th's bearish daily rejection adds confluence to this area.

TAIKO climbed 104% from its November low before retracing approximately 25% of the rally.

November 30th's bullish daily gap at $2.1044 marks the first possible support level. November 28th's swing high at $2.0812, the 9 EMA, and August 19th and September 23rd's bearish weekly rejections add confluence to this gap's general region. 

Thursday's unlock might dampen bulls' enthusiasm earlier in the week, leading to a retest of this support before the next potential leg in a rally.

If the rally has ended, the price may dive to test November 25th's bullish daily gap at $2.0812. Bulls began accumulating near this price during the week of November 11th.

December 1st's daily candle close at $2.0812 could develop into resistance if Monday's close remains below this level. This resistance might extend to $2.3906, where the lower half of Monday's long bearish wick formed as the price filled most bearish gaps formed during late July's rapid decline.

A push through this level may reach slightly above $2.5201 to fill the last bearish daily gap formed on July 29th. Over this resistance, bears' stops above July 27th's bearish daily high at $2.8158 and July 22nd's swing high at $3.0584 could pull the price higher if the overall market remains bullish.