As Gala Price Explodes, These 3 New Altcoins Can 25x This Year
Following a challenging 2022, Gala has been on a meteoric comeback for 3 weeks as it continues to push an impressive 222% rally.
Clawing its way out of the depths of the crypto winter ($0.019), GALA has posted a local high of $0.061 - currently trading at: $0.054 (+2%).
This huge structural breakout from a tight crabbing pattern has taken off - ignited by positive macro sentiment from Bitcoin (BTC) and the S&P500.
Promising project news has fuelled the climb as investors rush in to profit off this big move. Gala Games released their strategy for 2023. With 40+ GameFi projects in the pipeline - this ambitious team could see a phenomenal year.
The current breakout pattern has formed a bullish pendant on the chart. Created by riding a strong support trend to test resistance at $0.06.
Flipping the $0.06 price level from resistance to support is crucial for this rally to continue. Price action is still reeling from the last test, although the support trend has been well-defended.
Bollinger bands on the chart showcase the high volatility in price action throughout the past week - with daily movements +/-20%.
Large waves of volatility like this haven't occurred since June 2022. Big chop like this can only be indicative of a big move.
If $0.06 can turn to a support level, GALA could well see a launchpad to push up to the next level at $0.075.
A glance at the indicators illuminates little.
The RSI 14 has come close to overheating throughout this rally. But currently the RSI is sat at 51 - comfortable and poised for a move upwards. The MACD is sat on the fence at 0.00067.
But with poor performance across 2022, and concerns being raised by some members of the Gala Games community about the inflationary nature of the token - could other
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