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- GALA price is gaining inside a descending triangle pattern over the daily chart.
- The crypto asset is trying to recover till 20 EMA and is aiming for 50, 100 and 200-days Daily Moving Average.
- The pair of GALA/BTC is at 0.000002687 BTC with an intraday gain of 9.53%.
GALA crypto price is trading with a strong uptrend momentum inside the descending triangle pattern over the daily chart. GALA showed some promising aspects of recovery to the other cryptocurrency investors all around. Altcoins like GALA are more preferable and a good investment. GALA coin price has gained more than 15% of its market capitalization in the last 24-hour period. The token is trying to escape the descending triangle pattern over the daily chart. GALA bulls look pretty determined this time as GALA has been bullish from the last three consecutive trading sessions including today’s session.
What is GALA Crypto?
GALA is an Ethereum blockchain based token which powers the Gala Games ecosystem. It is a program that revolutionizes the blockchain gaming industry by providing the players with back support through the token. Basically, GALA is used as a monetary medium between Gala Games participants. For example, GALA crypto can be used for in-game items to be purchased by the player.
Some reports of analysts suggest that GALA token’s price prediction that is, maximum average can reach upto 0.635 by the end of 2022. They also says that GALA crypto token is an “awesome” long term investment and its showcase is a slightly more optimistic than price prediction.
GALA price is presently CMP at $0.08 and has gained 16.00% of its market capitalization in the last 24-hour period. Trading volume has increased by 65.3% in the intraday trading session. This shows that GALA is attracting more buyers and strong buying opportunities arise here for GALA investors. Volume to market cap ratio is 0.3828.
GALA crypto price is trading inside a descending triangle pattern over the daily chart. The token is trying to escape the pattern and is moving towards the downward sloping line. GALA investors need to wait for any directional change as bears may interrupt the token’s uptrend momentum before it reaches the verge of the triangle pattern. GALA bulls must maintain this uptrend momentum and should try to convert this into a strong bullish rally to sustain at the verge of the descending triangle pattern.
However, volume change can be seen below average and needs to grow for GALA to escape the pattern over the daily chart. This explains that GALA still needs to accumulate bulls and should try for a steady uptrend momentum.
GALA Escapes or Remain Caged?
GALA coin price is trying to escape the descending triangle pattern over the daily chart. The token is trying to gain strong uptrend momentum over the daily chart. GALA must attract more buyers in order to escape the pattern. Technical indicators suggest that GALA is trying to escape the pattern over the chart with uptrend momentum.
Relative Strength index showcases that GALA token is heading towards neutrality from above the oversold territory.
MACD exhibits the uptrend momentum of the GALA coin. The MACD line is ahead of the signal line after a positive crossover.
Conclusion
GALA crypto price is trading with a strong uptrend momentum inside the descending triangle pattern over the daily chart. The token is trying to gain strong uptrend momentum over the daily chart. GALA must attract more buyers in order to escape the pattern. Technical indicators suggest that GALA is trying to escape the pattern over the chart with uptrend momentum. It’s a matter of time to see if GALA bulls sustain at the verge of the descending triangle pattern.
Technical Levels:
Support Levels: $0.06
Resistance Levels: $0.13
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
