Gala crypto price has moved sideways since May 13th as the cryptocurrency winter continues. The token is trading at $0.0873, which is about 85% above the lowest level this month. The coin has crashed by over 90% from its all-time high, bringing its total market cap to about $661 million. It is now the 88th biggest cryptocurrency in the world.
GALA is the native token for the Gala Games ecosystem, which is one of the fastest-growing gaming blockchains. As a result, the platform has been expanding rapidly as more developers embrace it. Some of the top games built in the ecosystem are Town Crash, Spider Tanks, The Walking Dead, Legends Reborn, and Mirandus, among others.
Gala Games ecosystem has been in a strong growth in the most recent past. In addition to games, the platform has become a favourite place for NFTs. In fact, a close look shows that a good number of its NFTs that are currently on sale have all sold out. Therefore, with gaming and NFT platforms in the ecosystem growing, there is a likelihood that the GALA price will do well.
Gala Crypto price prediction
The four-hour chart shows that the GALA price has been in a tight range in the past few days. Along the way, the coin has formed what looks like a falling wedge pattern shown in blue. It has also moved slightly above the 25-day and 50-day moving averages. Additionally, it has formed what looks like an inverted head and shoulders pattern. Finally, it has also moved slightly above the Ichimoku cloud.
Therefore, the GALA price will likely have a bullish breakout in the coming days as investors attempt to move above the important resistance at $0.11. The stop-loss for this view will be at $0.08. If this happens, it will send signs that the coin has more sellers.
