GALA Price Prediction as GALA Attracts More Volume Than Dogecoin, Solana and Litecoin – Will GALA 10x From Here?
The GALA price has declined by 4% in the past 24 hours, with its fall to $0.01322310 marking a 7.5% decline in the last seven days.
GALA's noticeable drop today comes as the market as a whole declines by only 1%, suggesting that the altcoin is currently facing stronger headwinds than most other cryptocurrencies at the moment.
Indeed, with its co-founders locked in an acrimonious legal battle, it's no surprise that it has depreciated by 32% in the past month, as well as by 20% since the beginning of the year (whereas most major tokens have risen since January).
But given that GALA itself remains fundamentally in the same position as it was before the commencement of legal proceedings, it's highly arguable that it could recover strongly from here on out.
What's concerning about GALA at the moment is that its trading volume has risen at a time when it has very weak indicators, implying that most of the extra volume will be coming to sell the beleaguered altcoin.
For instance, the coin's relative strength index (purple) has just dropped below 30, yet it had been close to – or already below – 30 since the beginning of September, while it had been below 40 for much of August.
This suggests a coin struggling with serious problems, as does GALA's 30-day moving average (yellow), which has been massively below its 200-day average (blue) for several months now.
Also indicative of serious issues is GALA's medium-term support level (green), which has been declining consistently since June.
Taken together, such weakness signals an asset that may be facing a long-term period of decline.
If so, this will be because of the aforementioned legal confrontation between Gala Games' two co-founders, Eric Schiermeyer and Wright Thurston.
While Gala Games
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