Date: Thu, February 27, 2025 | 04:40 PM GMT
In the cryptocurrency market this week, notable altcoins have started to show signs of recovery after an extended correction phase that followed the rally witnessed in November 2024. Following the current momentum, two top altcoins, Worldcoin (WLD) and Gala (GALA), are coming back on green track after suffering a correction of over 40% in the past two months.
Both tokens are approaching key resistance levels within their falling wedge patterns, and potential breakouts could lead to further upside movement.
Worldcoin (WLD) Analysis
WLD’s daily chart highlights a well-defined falling wedge pattern that has been in play since its rejection from the December 6 high of $4.19. The persistent downtrend saw WLD decline to a low of $1.61, where it found support at the lower trendline of the wedge.
However, recent market sentiment has led to a mild recovery, with WLD currently trading around $1.17. The price is inching closer to the upper boundary of the wedge, which serves as the key breakout zone. If WLD successfully breaks above this resistance and confirms the breakout with a retest, the next major resistance lies at $1.32 near the 50-day moving average (MA).
A strong bullish push beyond this level could drive the price toward $1.87, representing a potential 68% upside from the current price.
Gala (GALA) Analysis
GALA is mirroring WLD’s setup, forming a similar falling wedge pattern after facing a sharp rejection from the December 4 high of $0.066. The subsequent sell-off drove the price down to a low of $0.017, where it tested and held the lower trendline of the wedge.
Currently, GALA has bounced back to the $0.020 mark and is approaching the upper resistance trendline. A successful breakout and retest could push the price towards the $0.025 resistance zone, aligning with the 200-day moving average. If bulls maintain momentum beyond this level, the next target stands at $0.034, reflecting a potential 72% gain from the current price.
The MACD on GALA’s daily chart shows early signs of bullish divergence, indicating that downward pressure may be weakening, giving further confidence to buyers anticipating a breakout.
Final Thoughts
Both WLD and GALA are nearing critical resistance levels within their respective wedge formations, hinting at a potential trend reversal. However, their movements will largely depend on the broader market conditions, particularly Ethereum (ETH) and Bitcoin dominance.
If ETH continues its recovery and BTC dominance starts to decline, it could provide additional momentum for altcoins, increasing the chances of a strong breakout for both WLD and GALA.
For now, traders should closely monitor breakout confirmations and volume surges, as these could signal the next major move for both tokens.
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