Gala showed impressive growth in two days, rising in price by more than 90%. We analyze data from on-chain metrics and technical indicators to understand what to expect from the dynamics of this asset in the near future.

Investors are hoping for a profit

Despite the rapid growth that led to the Gala price reaching $0.076, less than half of the token holders were able to make a profit. Almost 50% of investors are still at a loss. To move into the profit category, the asset price must rise by another 750%.

However, the probability of such a scenario is low, as large players have already begun to close their positions with profit. Over the past ten days, addresses with balances from 100,000 to 10 million GALA have sold more than 30 million tokens and, apparently, are not going to stop.

The MVRV coefficient also indicates a possible correction. Most wallets that have bought GALA in the last 30 days have unrealized gains of 88%.

Gala price forecast: will there be a collapse?

Technical analysis confirms the probability of a decrease in the Gala price. If sales from major players continue, the price is expected to fall to $0.06, which is likely to reduce some of the recent gains.

However, if investors show resilience, expecting further growth, the token may bounce back from the $0.072 mark. This may become an impulse to overcome the resistance level of $0.0845 and possibly raise the price to $0.10, which will refute the bearish scenario.