Will Gala Price Rebound After a 12% Drop? Key Price Levels to Watch!
Story Highlights
- Gala price fell by approximately 12% in 24 hours, with trading volume at $458.83 million.
- Technical indicators have become more volatile, pointing to mixed price action.
- On the positive side, a bullish reversal could push the price towards $0.0790 levels.
The cryptocurrency market started the week on a bearish note. This resulted in the top coins losing significant value in their respective portfolios. Gala token, on the other hand, locked in the top loser position with double-digit losses.
Will Gala price regain momentum, or will this gaming token lose its value and fall towards lower support this month? In this article, we discuss a possible short-term Gala price analysis.
Gala Token Price Volatility Increases!
As price volatility in the cryptocurrency market intensified, the price of Gala coin fell by more than 11% in 24 hours. However, this altcoin formed an expanding channel pattern on the longer timeframe and continues to trade. This underlines the strong positive outlook for the period ahead.
The 50-day EMA continues to support the Gala price chart on the daily time frame. Furthermore, with the recent golden cross, this altcoin has shown an increase in its bullish price movement in the crypto market.
Additionally, the Relative Strength Index (RSI) is showing a sharp decline into overbought territory on the price chart. Gala token is signaling mixed price sentiment this week as its average trendline experiences bearish convergence.
How high will the party prices go?
If the bullish sentiment persists, Gala price may retest the $0.066 resistance. If bullish sentiment intensifies at this time, this could push the altcoin’s price to highs of $0.0790.
However, a bearish move could lead it to retest the $0.05305 resistance. Furthermore, if the bulls fail to regain momentum at this point, this could pull the Gala coin price towards lows of $0.03975.
Want to explore the long-term price outlook for this gaming token? read our Festival Price Prediction Until 2030 the mystery is revealed!
FAQ
For the crypto project to achieve this milestone, it would need to rise by 1,722.29%.
The altcoin has a 24-hour trading volume of $458.83 million and is currently trading at $0.05487.
If the bullish sentiment continues, the price of Gala coin may reach a high of $0.10.
