The GALA price continues to hold the market's focus, showing signs of potential rallies. Technical analysis points to possible further price increases.
Technical Indicators: Mixed Signals
The daily GALA/USDT chart formed a 'golden cross', usually considered a buy signal if the price remains above $0.0247. A decline from the $0.030 resistance level might indicate profit-taking or short-term resistance. Support is around the 21-day moving average at $0.0231, providing a stop-loss level in case of further dips. The Money Flow Index (MFI) is at 64.08, indicating buying pressure dominates over selling pressure.
Analysts’ GALA Price Projections
Technical analyst TamngwaB highlighted potential resistance levels GALA might target while maintaining price support at current levels. He suggests if the $0.0225 level is breached to the downside, the price might reverse to lower support levels around $0.0175, weakening the bullish outlook. Analyst CW8900 expressed that the token could rise to $0.038 if the latest correction is complete, emphasizing market stability's importance.
Bitrue Integrates GalaChain
Cryptocurrency exchange Bitrue recently integrated the GalaChain mainnet for GALA trading, allowing direct GALA trading, depositing, and withdrawing. This avoids bridge fees and aligns with the Gala Games ecosystem’s goal of simplifying blockchain access. Such integration may inspire other exchanges to adopt similar approaches, increasing GALA’s market reach.
Analysts keep a close watch on GALA's price movement. GalaChain integration on Bitrue may raise the token's market interest and accessibility.
