- Summary:
- The new $100m investment by Gala Games and C2 Ventures into GameFi projects may spur bullish Gala price predictions in the medium term.
GALA failed to break a 4-day losing streak, despite Gala Games announcing a $100m blockchain fund and new play-to-earn games.
The announcement came at its Galaverse event. C3 Ventures is the funding partner for this project, with funds to be invested on game developers for new projects such as NFTs, play-to-earn games and other GameFi and Metaverse-themed games.
With 2022 set to present new investments into Metaverse-themed projects, bullish Gala price predictions may not be seen in the near term. Meanwhile, Gala continues to trade lower as the crypto market generally undergoes a correction following robust performances in November.
GALA Price Prediction
The bulls would be hoping for a bounce off the support zone at 0.44497/0.48048 to send the price action towards the 0.58112 price mark. Above this level, additional resistance is found at 0.67583.
This outlook is negated if the price action breaks down the support zone, targeting a drop towards the 0.37019 price mark (24 November low). Additional support is seen at 0.29172 and 0.22085. Otherwise, the price may continue to trade between the support zone and the 0.58112 resistance if the market decides to trade sideways.
GALA: Daily Chart
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