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GALA Falls To New Yearly Low: Biggest Weekly Losers

2 mins
Updated by Geraint Price
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In Brief

  • DOGE and 1INCH are following descending resistance lines.
  • GALA is trading inside a descending parallel channel.
  • MANA has broken out from a descending wedge.
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Be[In]Crypto takes a look at the five cryptocurrencies that decreased the most last week, more specifically from July 8 to July 15.

These cryptocurrencies are: 

  1. Dogecoin (DOGE) : – 11.13%
  2. Gala (GALA) : -9.71%
  3. Basic Attention Token (BAT) : -9.43%
  4. 1inch Network (1INCH) : -9.04%
  5. Decentraland (MANA) : -8.64%


DOGE has been falling underneath a descending resistance line since May 13. The line has most recently caused rejections on June 27 and July 8 (red icons). The latter also coincides with the $0.072 horizontal resistance area. 

Until the price manages to break out from both these resistance levels, the trend cannot be considered bullish.

DOGE Resistance line
DOGE/USDT Chart By TradingView


GALA has been decreasing inside a descending parallel channel since May 13. Such channels usually contain corrective movements. 

On July 13, it reached a low of $0.044, falling to a new yearly low in the process. This seemingly caused a breakdown from the $0.05 horizontal support area. 

However, the price has been increasing since and is making an attempt at breaking out above this area.

If GALA manages to reclaim the $0.05 horizontal level, it would be expected to increase until it breaks out from the channel.

Conversely, a rejection from the area would likely lead to new yearly lows.

GALA Channel
GALA/USDT Chart By TradingView


Since May 12, BAT has been trading in a range between $0.31 and $0.43. So far, it has deviated above and below these levels once (red circle). More recently, it moved above the resistance area on July 7. 

After the decrease, BAT created a higher low and is now in the process of making yet another attempt at breaking out. Due to the fact that resistances get weaker each time they are touched, an eventual breakout from this resistance area would be likely.

BAT Range
BAT/USDT Chart By TradingView


1INCH has been falling underneath a descending resistance line since May 23. This downward movement led to a low of $0.51 on June 18. The price has been increasing since, but was rejected by the resistance line once more on June 28. 

Currently, 1INCH is in the process of creating a higher low and making yet another breakout attempt. 

If it is successful, the next closest resistance area would be at $0.78.

1INCH/USDT Chart By TradingView


On June 22, MANA broke out from a descending resistance line. However, it failed to sustain its upward movement and is back at the $0.765 horizontal support area.

MANA bounced at this support area on July 13 (green icon) and initiated a short-term upward movement. 

If the upward movement continues, the closest resistance area would be at $1.05.

MANA/USDT Chart By TradingView

For Be[in]Crypto’s latest Bitcoin (BTC) analysisclick here.


In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing...