GALA price went parabolic as investors waited for the upcoming launch of Spider Tanks. The coin jumped to a high of $0.0488, which was the highest level since September 18. At its peak on Monday, it the GALA token was up by more than 55% from its lowest level this month.
Spider Tanks launch
Gala Games is a leading blockchain project that seeks to become the biggest gaming platform in the industry. It was developed by a co-founder of Zynga, a top gaming company that was sold for more than $12 billion this year.
Gala Games has already unveiled several games on its platform. Some of the most active ones are Legend Reborn, Townstar, and Town Crush. Most others like Legacy, Mirandus, Last Expedition, and Echoes of Empire are in development.
GALA price rose sharply as investors waited for the launch of the highly-anticipated Spider Tanks game that will happen on today (Monday). Spider Tanks is a Player vs Player (PVP) game created by GAMEDIA, a Netherlands-based studio. Players select tanks in the ecosystem and then battle it out in one of the arena maps. It is a free-to-play game and has incorporated concepts of play-to-earn.
Therefore, GALA rose as investors wait for the Spider Tanks launch. Analysts believe that the game will lead to more demand for GALA as the number of gamers in its ecosystem rise. Also, GALA will be in high demand as gamers buy some of the NFTs associated with Spider Tanks.
GALA price prediction
The four-hour chart shows that the GALA token has been in a strong bullish trend in the past few days. It managed to move above the important resistance level at $0.0428, which was the highest level on October 10. The coin has moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has been in a bullish trend.
While the Spider Tanks launch is bullish for GALA, I suspect that the coin will actually pull back. This will happen as investors sell the fact after buying the ‘rumour’. If this happens, the next key level to watch will be at $0.037, which is about 10% below the current level. A move above the resistance at $0.046 will invalidate the bearish view.