Thesis GALA broke above its late-September high near 0.00243 on 2 October. That day traded about 10x normal volume (574M) and closed well off its high. Price has since tried 0.00275 three times (2, 3 and 4 Oct) and failed each time. Every 4h bounce since has topped out lower, and price is now back on the breakout level. It has already poked below that level to 0.002389 today, so the retest has not yet shown that dips are being bought. A bid just under the level with a stop below today's low gives about 2.3:1 to the 0.00256–0.00258 4h shelf. With total market cap down 3.3% today and top-200 breadth at 28% up, this stays a watch until buyers show up. Crowd read The breakout-day buyers between 0.0026 and 0.00275 are underwater and selling into every bounce. That is distribution above the level, not a fresh markup. Fear & Greed sits at 73, so the crowd is not leaning the wrong way, and SAND has already taken the gaming theme's attention with a 49% week. Retests like this usually either sweep the lows and snap back fast, or slide back into the old range. Watch for Look for 4h candles with long lower wicks between 0.00238 and 0.00243 that close back above 0.00245 on higher volume, ideally a sweep of 0.002389 that gets bought back the same candle. Then a 4h close above 0.00252 confirms. Until that happens, leave the bid at 0.00242 and do not chase. Wrong if A 4h close below 0.00238 means the breakout level has failed and price is heading back into the September range (0.0022–0.0023). The same goes for a red daily close below 0.00243 on rising volume. Exit rules · close below 0.00238 (4h): Back below the breakout level and today's retest low: the retest failed · btc drop pct 4.0: The market is already soft today; a 4% BTC drop pulls small-cap gaming coins down with it · no progress hours 48.0: A retest that holds should bounce within two days; drifting sideways here is the distribution grinding on Managed exit (half at 1R, trail 1R) not filled yet

Screener retest scored 66 (reasons were not kept on this call) Project Searching turned up nothing material from the last two weeks: no unlocks, hacks or listing changes. All 50.4B tokens are already circulating, so no unlock supply is coming. The news feed shows routine game updates only. The cause of the 2 Oct volume spike is unknown. Risks · Three failed tries at 0.00275 since 2 Oct, with lower highs on every 4h bounce: supply is still sitting above · Today has already traded 1.7% below the breakout level, so the retest is sloppy rather than clean · Total crypto market cap is down 3.3% in 24h and only 28% of the top 200 are up, so this coin has no market tailwind · SAND has already led the gaming theme with a 49% week; GALA is riding along with the group, not leading it · Kraken GALA/USD traded only about $188k in the last 24h. The book is fine at £2k, but price is set on other venues and moves can gap through levels Sources https://www.coingecko.com/en/coins/gala https://news.gala.com/ Features at call time pct_1d: -1.85 pct_7d: 10.50 vol_ratio_eff: 1.49 rsi_1d: 60.98 bbw_pct_rank: 90.10 dist_to_high_20d_pct: 12.94 consec_green_1d: 0 overhead_supply_share: 0.22 upper_wick_ratio_1d: 0.03 lower_wick_ratio_1d: 0.52 rs_vs_btc_7d: 7.91 from_ath_pct: -99.70