Eseandre Mordi
Galaxy Digital is approaching a key technical moment after repeated failures to break above resistance, shifting focus toward whether bulls can defend a major support zone. As Fibby. noted, price is now testing the $18-$16 demand area for the third time - a level that could determine the next major move.
The Failed Break That Paused GLXY's Bullish Setup
The 2-week chart shows GLXY recovering strongly from 2023 into 2025, forming a clear uptrend with higher highs and higher lows. That structure stalled as price approached the $22.50 region.
Multiple attempts to break above this level failed, establishing it as a firm resistance ceiling. Each rejection reinforced selling pressure and prevented continuation - keeping the bullish thesis from playing out and marking a shift in structure from expansion to hesitation.
Each rejection at $22.50 reinforced selling pressure - the structure shifted from expansion to hesitation without ever confirming a breakout.
A Third GLXY Test of Demand Changes the Setup
Price is now pulling back into the $18-$16 demand zone, which has previously acted as a support base. However, the current test carries more weight than prior ones - this is the third approach into the same area.
In technical analysis, repeated tests of support tend to weaken it as buying interest is gradually absorbed. Instead of forming higher lows, the structure is flattening into a range, signaling that the trend is losing momentum and entering a more fragile phase.
The $16-$18 Level That Decides GLXY's Next Move
The $18-$16 zone is now the defining boundary for GLXY's structure. The outcome here shapes the entire setup:
- Holding this zone would keep price within a broader consolidation and preserve the possibility of recovery
- Losing this zone would introduce downside toward $10, bringing a much deeper retracement into play
The chart shows price compressing beneath resistance while drifting toward support - a setup that often precedes a larger move. With resistance clearly defined at $22.50 and support under pressure, the range is tightening toward a resolution.
If buyers fail to defend the current zone, the structure would shift from consolidation into breakdown, removing the last layer of support formed during the uptrend. For now, GLXY sits at a technical crossroads - the repeated rejection above resistance has already weakened the bullish case, and now the market is testing whether demand is strong enough to prevent a deeper move lower.
Eseandre Mordi
