- The market cap dominance of the GALA crypto is just 0.07%.
- Gala crypto is extremely volatile as per CoinCodex.
Gala Games, launched in 2019, pioneers blockchain-based gaming, emphasizing community involvement and decentralization. Its GALA token, an ERC-20 asset, fuels transactions and rewards within its ecosystem.
Founded by Eric Schiermeyer, co-founder of Zynga, Gala Games aims to revolutionize gaming by enabling player ownership through blockchain technology.
The trading volume for the Gala crypto is trading with low volume activity over the last 24 hours resulting in a traded value of $288.967 Million.
The market cap has further advanced by 5.5% in just the last 24 hours. The market cap for the crypto is $1.74 Billion which makes it the 63rd largest cryptocurrency in the global cryptocurrency market.
The volume/market cap ratio of the crypto is 16.68% and the circulating supply of the crypto is 29.917 Billion GALA. This is further followed by a total supply of 31.946 Billion GALA and the fully diluted market cap of the crypto is $1.857 Billion.
The sentiment of the crypto is bullish followed by 17 green trading days in the last 30 days. The price has also advanced by 36% in the last year. Despite this, the supply inflation of the crypto is very high resulting in 327.67%.
The volatility of the crypto is extremely high which results in 31.58%. Also, the fear and greed index is at extreme greed.
Gala Crypto Derivatives Analysis
The derivatives trading volume for the Gala has been witnessing an advance over the last few days. Despite this, in the last 24 hours, it has witnessed a decline of 10.2% resulting in a traded value of $706.98 Million.
The open interest for crypto has further advanced by 11.6% in the last 24 hours. It has resulted in $159.04 Million. The long/short ratio with which the derivatives are trading for the crypto is 0.9889.
Over the last 24 hours, the crypto again has witnessed a higher long liquidation of $718.59K while the short liquidation for the crypto is worth only $318.47K. This represents the dominance of sellers in the crypto.
GALA Crypto Technical Analysis
The trading price of the GALA crypto has broken above a crucial swing high and change of character level which indicates a bullish trend in crypto. The price of the crypto is currently retracing to lower levels.
If the price of the crypto surges and breaks above the level of 0.0940, a spike might be achieved in the upcoming days.
GALA/USD Chart by TradingView.com
Although the 20,50 and 200-Day EMAs together are trading in a golden cross, the price of the crypto is witnessing a slight decline. It is currently taking support at the 20-Day EMA.
The MACD is also witnessing a decline in the momentum of the crypto, this is followed by declining MACD and the signal line followed by the decline in the histogram of the chart. The RSI on the daily chart of the GALA crypto has been declining after hitting the overbought zones in the crypto.
Summary
Despite extreme volatility, GALA crypto exhibits a bullish sentiment with consistent price surges, marked by 17 green trading days in the last month and a 36% increase in the past year. Technical indicators suggest the uptrend is likely to continue, especially if it surpasses key resistance at $0.0940.
Technical Levels:
- Support Levels: $0.002540 and $0.01936
- Resistance Levels: $0.0900 and $0.1575
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.