Gala Games (Gala) Moving towards rates unimaginable just a few weeks ago. At one point, the blockchain gaming token registered a 60% increase in seven days. But much of that momentum is gone, and we expect some bearish price action in the coming days. Here are some highlights:
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If we are going to see some bullish reversals then Gala Games (GALA) could drop to $0.2.
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The coin is currently trading around $0.25, virtually unchanged over the past 24 hours.
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The upside potential remains minimal, and GALA may struggle to reach $0.4.
Data Source: Tradingview
Gala Games (Gala)
The metaverse and blockchain gaming craze we saw last year was instrumental in the growth of GALA. In fact, the coin managed to reach a price of around $0.84 in November last year.
But this bullish momentum hasn’t really been replicated, with GALA now trading down 82% from highs a few months ago. Despite this, we saw some bullish breakout in early February. In fact, at one point GALA registered a 60% increase in less than a week. That bullish breakout has now slowed down, and it looks like the gaming coin is slipping.
We expect it to flatten out at the $0.2 mark before the bulls try to find any demand. Furthermore, based on the chart and recent price action, it looks like any bullish trendline for GALA is limited at $0.4.
Are Gala Games (Gala) a Good Buy?
Well, metaverse and blockchain gaming tokens are expected to remain some of the most sought after assets in the market. While it’s likely that we’ll see other stronger, more powerful Metaverse projects in the future, there’s no doubt that Gala Games is a big pioneer. For investors who want some exposure to this new virtual world, buying it should be a good option.