- An increase of 5.11% has been observed in the GALA crypto price during the weekly trading session.
- Technical indicators summary suggests a bullish signal in the current phase.
- The 24-hour trading volume of the Gala has reached over $132 million, with an increase of 15.27%.
Powered by GalaChain, Gala (GALA) is a Web3 entertainment ecosystem that includes Gala Games, Gala Music, and Gala Film. The GalaChain is a Layer-1 blockchain built to power the Gala Entertainment ecosystem.
The blockchain provides open-source tools such as GalaChain SDK and Creator portal. By using these tools, innovators can extend the benefits of web3 to users and the community.
In terms of security, the GALA is the most secure altcoin in the world after Bitcoin (BTC) and Ethereum (ETH).
Gala Performance, Supply Changes, Holdings, & Valuation
The global cryptocurrency market has increased 6.30% in the last 7 days. Conversely, the Gala crypto price advanced over 10% during the previous 7 days, outperforming the global cryptocurrency market. GALA also outperformed similar Layer-1 cryptocurrencies such as Hooked Protocol, Portal, etc.
The maximum supply of GALA tokens is locked at 50 billion. 35.19 billion tokens have been created to date, which are circulating in the market. The current circulation supply has a market worth of $1.40 billion. Gala Crypto current market capitalization ranks under the top 65 most dominant cryptocurrencies in the world.
The following are the token-holding details about the Gala Crypto:-
The Gala crypto currently has 223,692 active token holders, of which the top 3 wallets have 31.16% of the circulating token supply. With 7.15 billion GALA tokens held, Binance 8 has placed itself as the number 1 holder. After that, the “Gala Games: Reserve” and Kraken own 6.21% and 3.00% of tokens.
Technical Analysis of the Gala (GALA/USD)
The current crypto price slipped between the key exponential moving averages, reflecting uncertainty in the short term. The 50-day and the 200-day EMAs are acting as dynamic support and resistance for the price.
GALA price has been following a trendline forming above after the upsurge of over 140% from the $0.0384 major demand level. The current price is trading at $0.0464, forming bullish candles from the $0.0384 demand level.
Regarding the technicals, the price can reach the $0.0651 level if the price breaks above the $0.0528 level. Conversely, a drop in price can be expected below the $0.0346 support level.
The relative strength index (RSI) line and the SMA line have made a golden crossover, indicating a bullish shift in strength at the current phase. The RSI line is moving at 47.88 above the SMA line.
Summary
The Gala crypto price has been performing with bearish sentiments since March 11, 2024. In recent sessions, the buyers have reflected their presence from the $0.0384 primary demand zone.
The current price is trading near a trendline forming above. If the price breaks above the $0.0528 level, the price can reach the $0.0651 level. Conversely, a drop in price can be expected below the $0.0346 support level.
Technical Levels
- Resistance Levels: $0.0528 and $0.0701
- Support Levels: $0.0346 and $0.0250
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.