Last month, the Gala crypto price performance in the markets was made of two halves, with the first few days of the month starting with an aggressive bearish trend. However, by the end month, the Gala crypto prices had started to recover, which saw its prices surge from the month’s price low of $0.039 to a high of $0.049, which was a price jump of over 55 per cent. However, Gala crypto price dropped by 10 per cent in the last two trading sessions, which saw it close the month with only a 3 per cent gain.
In October, Gala Crypto price is already showing signs of the resumption of the long-term bearish trend, with prices already down by 4 per cent. This is after it dropped by 4 per cent in yesterday’s trading session and opened today’s trading session with a small gap-down. The drop comes amidst reports of a launch of a new game called Spider Tanks, a player Vs player (PVP) game that was created by Gamedia. Investors are hopeful that the game will likely boost Gala Crypto standing in the gaming industry, as it looks to be the number platform for play-t0-earn blockchain projects.
Gala Crypto Price Forecast
Despite today’s trading session rising by a percentage point, the past few days’ price action has shown a high likelihood that Gala crypto may have resumed its long-term bearish trend. The chart below shows the prices recently piercing through the $0.044 resistance level, failing to continue with the upward surge and returning below the price level. The chart also shows the past two trading sessions being aggressively bearish, which has resulted in a drop of almost 10 per cent.
Therefore, I expect today’s percentage gain to reverse and the bearish trend to resume. There is a high likelihood that we might see prices dropping below the $0.038 support level in the next few trading sessions, with high chances of dropping further to trade below $0.035. A trade above yesterday’s price high of $0.044 will invalidate my bearish analysis.
Gala Crypto Daily Chart
