- The GALA price chart is displaying bearish characteristics and can reduce its worth more.
- GALA price fell below the 20-day and 50-day exponential moving averages amid the bearish pressure.
Gala Games is a gaming platform that utilizes blockchain technology to change the gaming industry with creative findings.
Gala Games gives players a thoroughly decentralized gaming economy with a web of games that run on the blockchain and are owned by the players. The project strives to hide the blockchain difficulties from gamers, making it interesting to those who are new to blockchain.
The GALA token is the main digital asset of the Gala Games ecosystem. As an ERC-20 token on the Ethereum blockchain, it has numerous salient functions, such as securing the network and being used concerning payment for transactions within the Gala Games crypto ecosystem.
It is used for paying fees, buying rare assets, and rewarding developers to use in their games on the Gala Network.
Notably, the GALA token does not pose any possession or entitlement to the project, nor does it guarantee any returns, profits, or dividends to holders.
The GALA token can be accrued through buying on a crypto exchange or by becoming a Gala Games Node operator, with the second option giving a chance to earn a passive income.
GALA Price Prediction on Daily Time Frame
The GALA price prediction is displaying bearish characteristics and could fall further. It has shown bad performance in the past week, and last month, indicating a consistent downward trend, by 17.73% and 6.05%, respectively.
The GALA crypto has indicated a sign of a downturn as the price slid from a critical level of around $0.03500 on the charts.
The GALA price prediction highlights that it is about to take a big hit, as it slipped downwards from the resistance level and it seems it going to tumble down more to new lows from the current zone.
The GALA price is exhibiting bearishness and falling capacity as it slides below the 20-day and 50-day exponential moving averages. Contingent on the sellers’ surge, it could even consume the supporting 100-day and 200-day EMAs as well.
Moreover, the RSI is falling smoothly and displaying bearish characteristics, implying that the GALA crypto asset is losing momentum and could fall to new depths.
Furthermore, the current market price of GALA crypto is $0.02784, and the trading volume of 24 hours is 139.513 million.
Therefore, if the price slumps more it can reach the nearest order block or the demand area – $0.02000. Alternatively, if the buying volume surges, then the price could jump to reach the $0.03500 mark.
Summary
The GALA chart is bearish. It fell sharply from the resistance levels in the past week, and last month, indicating a consistent downward trend, by 17.73% and 6.05%, respectively. If the price slumps more, it could reach the nearest order block or the demand area – $0.02000.
Technical Levels
Support Levels: $0.02000
Resistance Levels: $0.03500
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.