- Summary:
- Our GALA price analysis suggests that a breakdown below the $0.05 level would make Gala crypto price prediction very bearish.
Our Gala crypto price prediction depends on the bulls’ ability to hold a critical price level. The $0.05 level has acted as strong support on many occasions. At the moment, Gala Games is retesting this region once again after a brutal rejection from $0.072. Due to multiple retests, there is a higher likelihood of a breakdown.
Gala Games has emerged as one of the most hyped gaming ecosystems. The GALA token is the native asset of the platform that can be used to buy in-game NFTs and to run nodes. However, due to low network activity and most of the games in development, the project is very far away from mass adoption.
At the time of writing, Gala crypto price is trading at $0.054. Price has been trading sideways since the start of the week. The $0.07 region appears to be acting as resistance as the price failed to break above despite multiple attempts. The rejection of the BTC price from the $25k level further increased the selling pressure.
According to Gala Games news today, 1st playtest of the TWD Empires is just around the corner. It is expected to go live on 30th August. There will also be a special AMA taking place on 31st August. You can buy Gala Games by signing up on the top crypto exchange Binance.
Gala Crypto Price Prediction
A look at the GALA price chart depicts a sideways price action on the daily timeframe. Price has been trading inside the $0.05-$0.07 trading range for the past few months. A breakout of this trading range will likely trigger a massive move in that direction. The price has retested the $0.05 support once again during this week.
A breakdown below the $0.05 level would make Gala crypto price prediction very bearish. This would send the price into a downward spiral in search of new lows. Therefore, this price level could be a good stop loss for any long trade.
GALA Games Daily Chart
