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- 1 Gala crypto price was at $0.027 registering a positive development of 0.55% in Intraday.
- 2 The technical indicators imply a bullish outlook above the 50 and 200-Day exponential moving averages.
Gala crypto price is extending on the higher side and has recorded a swift rise from yesterday’s closing price. The recent surge after breaking out of a correction phase has helped the crypto reclaim the bullish territory.
Earlier, the crypto entered a correction phase from the very start of the financial year 2024 after topping out near the $0.03 level. The crypto noted a sharp fall in the 1st week of January and dropped lower breaking below the 20 and 50-Day EMAs.
However, the price kept on losing momentum as it digged lower which indicated the failure of the sellers. The buyers established themselves near the $0.021 level after which the price bottomed out and broke out of its correction phase.
Currently, the buyers have regained control over the trend and the crypto price may resume its movement on the upper side forming higher highs and higher lows. On the upper side, the recent supply zone is at $0.03 level which may be conquered if the price rises with momentum.
The upper supply level of $0.35 may act as a major supply zone as it is the recent swing high. If the buyers are able to conquer this level, it may lead to the formation of a new swing high.
Gala Crypto Volume Analysis
Volume analysis shows that the crypto has received $81.42 Million volume in the last 24 hours with a rise of 36.06% as compared to the previous day. The volume to market capitalization ratio is 10.68% indicating high volatility in the crypto. Also, it has a circulating supply of 27.79 Billion Gala tokens against a total supply of 29.82 Billion tokens.
Gala Crypto Indicator Analysis
The technical indicators imply bullishness in the short term as well as long term. The GALA crypto price currently rests above all the key EMAs. The EMAs may act as a dynamic support if drips lower. At the time of writing, RSI was placed at 67 points and that of the SMA line was at 51.01 points suggesting a positive outlook in the short term. The RSI and SMA line has crossed above the mean line suggesting a trend continuation.
Gala Price Prediction February 2024
The most optimistic view of analysts estimates that the GALA crypto may attain a high of $21.39 by the end of February 2024. However, the pessimistic aspect of analysts suggests that the price could drop below the 20 and 50-Day EMAs.
Gala Crypto Price Prediction 2024
The price forecast for the year 2024 is that the GALA token price could reach a high of $28.63, suggesting a potential gain of over 55.52% if the most positive conditions prevail. Moreover, the bearish outlook of the analysts pegs the price at $23.67 by the year-end.
Gala Price Prediction 2025
By 2025, the Gala price may attain $40.54 as the highest price on the positive side. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $29.85.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
