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December 6, 2023

Crypto Strategist Flips Bullish on Gala, dYdX and One Red-Hot Altcoin – Here’s His Outlook

By Daily Hodl Staff

A widely followed crypto analyst is suddenly turning bullish on Gala (GALA) and two other altcoins.

Pseudonymous crypto trader The Flow Horse tells his 186,500 followers on the social media platform X that the native asset of the blockchain-based gaming platform Gala is in an uptrend.

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He says that key metrics like the cumulative volume delta (CVD), an indicator that aims to identify divergences by comparing buying and selling volume over a given time period, are flashing bullish.

“Bought some GALA.

• Looks like ‘drift of death’ for shorts.

• That drift up is all spot, as seen in very divergence spot, perp (perpetual future contracts) CVDs.

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• Gaming sector, which has not truly had its day in the sun.

• Trend strong and intact 20-day SMA (simple moving average) + one SD (standard deviation) anchor VWAP (volume weighted average price) band holding.”

Source: The Flow Horse/X

Gala is trading for $0.0301 at time of writing, up 1.3% in the last 24 hours.

Next up, the trader says that he is bullish on decentralized exchange (DEX) dYdX after it flipped a key resistance level into support, among other factors.

“DYDX unlock is over and spot CVD is roofing while perp still fades.

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• DEX narrative getting stronger by the week.

• Technical retest of the most pivotal level of the last two years, resistance now support.

Patience. Higher.”

Source: The Flow Horse/X

At time of writing, dYdX is trading for $3.08, down 1% in the last 24 hours.

Lastly, the trader says that Celestia (TIA) a blockchain built to enable anyone to launch their own decentralized networks at minimal cost, remains in a massive uptrend.

“Bought more TIA.

• This has yet to make anyone really chase or blow off.

• Derivs (derivatives) open interest is where it was when it was half the price.”

Source: The Flow Horse/X

TIA is trading for $10.94 at time of writing, up 27.8% in the past 24 hours.

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