GALA Price Analysis: Gala Price Continues to Fall Down

• The price of GALA is trading near $0.0223. The 24-hour trading volume was $49.82 million.

• The GALA price is observing a rise of +0.98% in the last 24 hours.
• The GALA year-to-date return is +34.49%.

About GALA

Eric Schiermeyer, co-founder of Zynga, founded GALA Games in 2019 with experts such as game developers, cryptocurrency pioneers, and blockchain developers. The team at the gala games is dedicated to the games. They took the cutting edge of Web3 technology and used it to give gamers freedom they’ve never seen before: freedom to be personal, freedom to earn money, and play for free.

GALA is the main theme of Shanda Games. The main point of buying NFT is the reward of the creative NOde shareholders for the operation of the nodes and the fuel token used to pay the network fees on the GALA blockchain.

GALA Games was created by industry-leading game developers who came together to add value to gamers with the help of web3 and blockchain technology. Its developers see a huge problem with the way today’s game publishers want players to spend money to continue enjoying the games they love. Removing the old model, GALA creates a massive platform with AAA titles and many free games designed to give gamers more freedom, control and rewards than ever before.

GALA Trading Below

Technical Analysis (1D Timeframe)

Source:  GALA/USD.1D.BITFINEX by TradingView

The price of GALA at present is trading Below 50 EMA which suggests the price could  Fall shortly. If the Sellers continue to push the price Downwards, it could Fall more in its value within a week. Hence indicating Sell.

The price of GALA at present is trading Below 200 EMA which suggests the price could Fall more shortly. If the Sellers continue to push the price Downwards further it could Decrease more of its value within a week. Hence indicating Sell.

The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). The RSI line has been moving near the oversold zone for the previous few days. The value of 14 SMA is 33.29 points and the RSI line is near 29.07. This indicates that the MINA market position is in the Oversold zone; currently, the line suggests more fall in the zone. Hence indicating Sell.

As per the Trendline, it seems it’s respecting the trendline and trying to climb up from the trendline. For now, it’s consolidating but can go downwards more shortly appears probable. So, the price of GALA can continue to Fall or reduce.

Conclusion

According to the analysis, The Indicators are supporting the Bears. If the price continues to move under the Seller’s control, it is expected to Fall more shortly or it can consolidate at the current levels. Presently, the sentiments of investors & traders are Bearish regarding the price of GALA in the 1D timeframe.

Technical Levels

• The Nearest Support Zone  – $0.01870 then $0.01606
• The Nearest Resistance Zone – is $0.02754 then 0.03025
  

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.