Gala

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Bitcoin’s positive price action attracted buyers, and altcoins reacted favorably. Algorand and GALA had lost considerable value in the last week. However, during the previous 24 hours, ALGO and GALA recovered considerably.
Algorand and GALA had gained 6% and 6.7% at press time, respectively. Most altcoins today have reacted positively to Bitcoin’s upward jump.
Algorand/USD Four-Hour Chart

Algorand was trading at $1.34 with immediate resistance at $1.45. Although ALGO traded northwards, it was trading too close to its robust support level of $1.12. After trading within the downward channel for the last two weeks, the coin has finally seen appreciation owing to the strength of the broader market.
Technicals have pointed towards bullishness in the market. However, the coin was not completely immune from a bearish turn.
The Relative Strength Index made a recovery from the oversold zone as it neared its mid-line. Buying strength shot up as ALGO brought in gains in the last 24 hours. The Directional Movement Index was bullish as the +DI line crossed above the -DI line. The Average Directional Index has pointed towards a trend weakening, indicating that a price reversal could occur over the upcoming trading session.
GALA/USD Four-Hour Chart

 
GALA was trading at $0.440 and broke above the descending channel that it had been trading within for the last two weeks. GALA’s price movement has been quite consistent, considering how prices had plummeted right after the coin secured its ATH just last month.
Immediate resistance for the coin was at the $0.545 level and local support levels extended from $0.412 to $0.360. Contrastingly, the coin’s prices were seen above the 20-SMA line, a reading that meant sellers were the price-makers of the market.
The Relative Strength Index reflected that although GALA’s price action remained consistent, the coin failed to register the investor’s and buyer’s confidence as the indicator mostly hovered below the half-line. RSI at press time, however, tried to make an uptick which meant that buyers were entering the market even though sellers primarily continued to dominate the market.
On Balance Volume, on the other side, preferred the bulls, which also signaled increased buying strength. This could also mean that the prices of GALA might witness a reversal.
The post Algorand And Gala Price Analysis: Coins Break On The Upside After A Week Of Rocky Trading appeared first on CoinGape.


Bitcoin&#8217;s positive price action attracted buyers, and altcoins reacted favorably. Algorand and GALA had lost considerable value in the last week. However, during the previous 24 hours, ALGO and GALA recovered considerably. Algorand and GALA had gained 6% and 6.7% at press time, respectively...

coingape.com

Algorand And Gala Price Analysis: Coins Break On The Upside After A Week Of Rocky Trading

The GALA token indicates that the overall trend is still bullish. This pair is currently in a retracement phase which has caused a 50% discount in the token’s value. Moreover, the price has recently given a bearish breakout from a descending triangle pattern, indicating extension for this down rally.
Key technical points: 

The GALA token price drops below the 200 EMA in the 4-hour time frame chart
The intraday trading volume in the GALA token is $171.4 Million, indicating a 53.44% gain.

Source- =Tradingview
The last time when we covered an article on GALA/USD, the token price was still hovering above the 0.5 Fibonacci retracement level($0.44), trying to obtain sufficient support from it. On December 11th, the price tried to bounce back from this support with a bullish engulfing candle but failed to cross the $0.615 resistance.
The token price rejected from this level with an evening star candle pattern, dropping this pair back to the $0.44 support. Anyhow this whole structure revealed a descending triangle pattern, suggesting a further fall in its price.
The daily Relative Strength Index (44) steadily approaching the oversold zone. 
GALA/USD 4-hour time frame chart
Source- Tradingview
Today, the GALA token price broke down the neckline support level of descending triangle pattern. Along with this support, this pair also breached other crucial like 0.5 FIB level and 200 EMA, indicating a significant loss for the market bulls.
Today, the GALA token price broke down the neckline support level of descending triangle pattern. Along with this support, this pair also breached other crucial like 0.5 FIB level and 200 EMA, indicating a significant loss for the market bulls.
The GALA token price has recently plummeted below the crucial EMAs(20, 50, 100, and 200), indicating a bearish trend. Moreover, the chart also shows a bearish crossover the 20 and 100, encouraging even more sellers in the market.
The Moving average convergence divergence shows the MACD and signal line moving below the neutral zone(0.00), projecting a bearish momentum in the price.
The post GALA Price Analysis: Descending Triangle Pattern Threatens More 16% Fall In GALA Price appeared first on CoinGape.


The GALA token indicates that the overall trend is still bullish. This pair is currently in a retracement phase which has caused a 50% discount in the token’s value. Moreover, the price has recently given a bearish breakout from a descending triangle pattern, indicating extension for this down ra...

GALA Price Analysis: Descending Triangle Pattern Threatens More 16% Fall In GALA Price

The host of crypto channel Coin Bureau says that he’s identified one Ethereum-based gaming altcoin he believes could dominate the sector.
In a new video, pseudonymous analyst Guy tells his 1.76 million subscribers that Gala Games (GALA) stands out as one of the few metaverse tokens that will survive for the long run.

“Of all the play-to-earn projects out there, Gala Games stands out as one of the few ecosystems that could stand the test of time.”
Gala Games is a blockchain-based play-to-earn gaming platform built on Ethereum that lets participants actively take part in a game’s development by letting them buy and sell their own in-game items as non-fungible tokens (NFTs).
According to Guy, the crypto has a lot of room to grow compared to its competitors and if its market cap were to double, it would match that of Axie Infinity (AXS), the current leading token of the crypto market’s metaverse sector.
“Assuming GALA’s current market cap is correct, it still has a lot of room to grow compared with other cryptocurrencies in this niche. Now the leader in this niche is of course Axie Infinity and if GALA catches up to AXS, that would be a 2x, assuming AXS’s market cap stays the same.”
However, the host says that one drawback of the protocol is its continuous heavy supply of tokens, which could heighten inflationary sell pressure.
“Unfortunately for GALA, there seems to be leaning on the supply side of the economic equation. Millions of GALA are being minted every week to reward founders’ notes, and I reckon it’s reasonable to assume that most of them are selling.”
Guy says that if the project can improve on some of its weaknesses, he could see Gala becoming a top competitor in the crypto gaming sector.
“The one thing that sticks out to me most about Gala Games is its ecosystem approach and the unparalleled experience of its founders.
If it can adequately address its setbacks while leveraging its greatest strengths, Gala Games could easily become one of the top crypto projects in the blockchain gaming niche.”
GALA is exchanging hands at $0.45 as of writing, a 24% decrease from its seven-day high of $0.59.

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Featured Image: Shutterstock/KeremGogus/Andy Chipus

The post Coin Bureau Says Altcoin Built on Ethereum Could Become One of the Biggest Play-To-Earn Crypto Assets appeared first on The Daily Hodl.


The host of crypto channel Coin Bureau says that he’s identified one Ethereum-based gaming altcoin he believes could dominate the sector. In a new video, pseudonymous analyst Guy tells his 1.76 million subscribers that Gala Games (GALA) stands out as one of the few metaverse tokens that will surv...

dailyhodl.com

Coin Bureau Says Altcoin Built on Ethereum Could Become One of the Biggest Play-To-Earn Crypto Assets

The GALA token price is going through a usual correction phase after its remarkable rally in November. Furthermore, the price is plunged to the 0.5 FIB level and is trying to sustain above. The crypto traders would get a better confirmation resuming this rally when the token breaks out from the bullish pattern.
Key technical points:

The 20-day EMA providing strong support to GALA price
The intraday trading volume in the GALA token is $1.1 Billion, indicating a 3.68% gain.


Source- GALA/USD chart by Tradingview
The last time when we covered an article on GALA/USD, the token price marked $8.4 as the New All-Time High on its technical chart. After obtaining strong rejection from this new resistance, the price entered a correction phase and lost 40% in almost two weeks. The token is currently plunged to the 0.5 Fibonacci retracement level and indicates strong demand pressure with several lower price rejection candles.
The crucial EMA levels(20, 50, 100, and 200) sustain a bullish sentiment for this token as its price is trading above all of them. The Relative Strength Index(53) displays a steady downtrend in the chart approaching the oversold zone.
GALA/USD 4-hour Time Frame Chart

Source- GALA/USD chart by Tradingview
For the correction phase mentioned above, the GALA price has revealed a Flag pattern in the 4-hour time frame chart. The price is currently resonating between the two descending trendlines leading to this short-term downtrend. Thus, the crypto traders should wait for the price to breach the overhead resistance trendline, which would provide them an excellent long entry opportunity.
The MACD indicator’s lines have started approaching the neutral zone from below. If they manage to jump above this middle line, the crypto traders will get an extra confirmation for a bull rally.
The post GALA Price Analysis: The Flag Pattern Can Resume Bull Rally In GALA Token appeared first on Coingape.


The GALA token price is going through a usual correction phase after its remarkable rally in November. Furthermore, the price is plunged to the 0.5 FIB level and is trying to sustain above. The crypto traders would get a better confirmation resuming this rally when the token breaks out from the b...

GALA Price Analysis: The Flag Pattern Can Resume Bull Rally In GALA Token

The GALA token price is continuing to sail north, and in just two weeks, it has increased by approximately 900%. Despite the fact that the token has reached a new all-time high of $0.836, no significant amount of sell signals have been observed, indicating that bulls remain in control. The token will soon retest this new higher resistance level, potentially creating a new entry point for traders.
Key technical points:

The GALA coin chart obtains dynamic support from the 20 EMA of a 4-hour time frame chart.
The GALA coin’s intraday trading volume is $5.2 billion, representing a 2.3% gain.


Source- GALA/USD chart by Tradingview
As mentioned in my previous article on GALA/USD, the GALA price had reached the $0.038 mark, which was approximately 3000% up from the November start. However, the rally did stop there, and with a new week the oken also spike as new as ever and has marked a new All-Time High at $0.0836 mark.
The GALA price is trading high above the crucial EMAs (20, 50, 100, and 200), indicating a super bullish trend in this token. Furthermore, the Relative Strength Index (75) reflects a positive attitude toward the token.However, a bearish divergence chart near the overbought region is concerning.
GALA/USD 4-hour Time Frame Chart

Source- GALA/USD chart by Tradingview
This lower time chart shows a steady rally in GALA price with new higher highs one after another. The technical chart displays some minor consolidation phases across this rally, which are just small breaks before continuing to rise higher.
Thus, in similar ways, the token price was recently rejected from the $0.836 mark and plunged to the $0.62 level. The coin obtained good support from this level and by offering a bullish engulfing candle, the price is ready to rechallene the previous higher high.
If the price manages to breach this overhead resistance as well, The rally will continue and we might see the $1 mark soon.
 
The post GALA Price Analysis: The GALA Coin Marks $0.836 As A New All-Time High; Will It Break This Level As Well? appeared first on Coingape.


The GALA token price is continuing to sail north, and in just two weeks, it has increased by approximately 900%. Despite the fact that the token has reached a new all-time high of $0.836, no significant amount of sell signals have been observed, indicating that bulls remain in control. The token ...

Gala price	$0.282855
Low - High 24H	$0.273948 - $0.291049
Market cap	$2.13B
Volume 24H	$273.54M
All time high	$0.824837 -65.68% November 26th 2021
All time low	$0.000135 209999.86% December 28th 2020
Genesis date	N/A

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