Cryptocurrencies

Gala Crypto Price Prediction: The Upside Seems To Be Limited

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Written By: Abdullah Sarwar

Nov 27, 2023, 16:23 GMT 16:23

Summary:

Gala Price Prediction: GALA/USD may face a pullback from the major resistance level of $0.30. There is a strong bearish divergence on RSI.

Gala Games (GALA) price has been on a phenomenal run lately. It has emerged as one of the flagship gaming coins as the focus of the crypto investors shifts to GameFi. As a result, GALA crypto is now trading close to its 4-month highs.

In the past two weeks, the hype of the crypto gaming ecosystems has really picked up on social media. Many YouTubers are shilling gaming coins to their audience which has led to an influx of some serious capital into this nascent sector.

One of the top picks of many influencers in this regard is the Gala Games which has already developed multiple games. However, after a strong rally from its bottom in October, its price seems to be due for a correction.

If we analyze the GALA/USD chart on a high timeframe, we can easily identify the resistance level of $0.03. There are strong chances of a pullback from this level in the coming days as there are already strong bearish divergences formed on the daily timeframe.

However, in case of a strong breakout above this resistance level, Gala crypto price prediction will flip very bullish.

GALA/USD Chart

This post was last modified on Nov 27, 2023, 16:23 GMT 16:23

Written By: Abdullah Sarwar

Abdullah Sarwar is a blockchain analyst and a cryptocurrency investor with more than 5 years of experience. He specializes in providing crypto price projections based on their fundamentals and price charts. He is also a successful day trader. He graduated in 2015 with a degree in electronic engineering. In his free time, he loves listening to electronic music and playing with trading bots.