GALA Price Prediction: Could GALA Price Recover Previous Losses?

After a bearish trend, the Gala (GALA) crypto has undergone a consolidation at the bottom. However, the GALA price has erupted from the consolidation zone and has surpassed the 200-day EMA.

After a bearish trend, the Gala (GALA) crypto consolidated at the bottom. But the GALA price broke out of consolidation and rose above the 200-day EMA.

Here, the $0.0175 zone acted as support. After a bullish rally, the price showed a pullback in the daily time frame. Breaking above the $0.025 mark triggered a bullish signal, which could attract buyers.

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The GALA token faced the major resistance level at $0.0290 with strong buying pressure. Let’s see how the crypto price reacts near the significant resistance level.

Could GALA Price Recover Previous Losses?

At the time of writing, the GALA price was trading at $0.0292. It has increased by 10.5% in the last 24 hours. The market capitalization was $976.31 Million, and the 24-hour trading volume was $183.16 Million.

The current cryptocurrency sentiment is bullish, and the price has broken out of a major resistance level. The market sentiment could boost the momentum, and the GALA token price may see massive buying pressure.

If the price holds above the 200-day EMA, it could attract buyers. Buying pressure over the 200-day EMA may lead to massive buying pressure. Buyers could eye this year’s high if trading volume supports this momentum.

On the other hand, if the digital asset price fails to hold above the 200-day EMA, it could be a sell signal. Small traders may prefer to book profit once the price starts trading below the 200-day EMA. Here, profit booking could lead to strong selling pressure.

According to the technical indicators, the GALA price has broken out of the key moving averages, indicating buyers’ dominance. RSI tested the RSI-based moving average and is moving up. Most of the technical indicators are in favor of bullish predictions.

Bitrue Enhances GALA Trading Potential with GalaChain Integration

Bitrue, a cryptocurrency exchange, recently integrated the GalaChain mainnet for GALA trading to enhance market accessibility. Bitrue is the first exchange to eliminate bridge fees by offering direct GALA trading, depositing, and withdrawing on GalaChain.

Bitrue Integrates GalaChain Main Net for Gala Token Trading▫️ Bitrue becomes the first exchange to integrate GalaChain▫️ $GALA can now be deposited, traded, and withdrawn directly on GalaChain through Bitrue.▫️ Users avoid bridge fees and can trade GALA with various tokens… pic.twitter.com/Evirgqv2NL

Bitrue provides a valuable alternative for GALA holders seeking an affordable trading experience. It enables users to trade GALA with different tokens directly on GalaChain.

This integration aligns with the Gala Games ecosystem’s goal of expanding blockchain accessibility, particularly in the gaming industry. GalaChain’s direct transactions resonate with the ecosystem’s aim to reduce costs and enhance user experience.

GALA Price Prediction Based on Technical Chart

The recent surge in the GALA price highlighted a significant shift in market sentiment toward a bullish outlook. The token has witnessed a 55% increase over the past 11 days and a breakout above the crucial resistance level of $0.025.

There is potential for further upward movement, especially if the price maintains support at the 200-day EMA. If buying pressure continues and trading volume supports this momentum, GALA could target previous highs. It could reach the $0.050 mark.

However, caution remains necessary, as failure to hold above the 200-day EMA may trigger profit-taking and selling pressure. That could reverse recent gains. Overall, the technical indicators suggest a favorable environment for bullish forecasts in the near term.

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t constitute investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.