With the rise of more than 30% in the past day, the GALA coin price gains bullish momentum. Will it reach the $0.50 mark?

Gala Games is more than one game. It offers a variety of blockchain games that place fun first and blockchain second. Town Star is currently only available as a browser-based simulation of a town. Town Star allows players to manage a small town in a similar way as SimCity. However, the players actually have the town.

Let us now <a href="https://www.cryptoknowmics.com/news/gala-technical-analysis-a-bullish-reversal-within-the-falling-channel/">learn about</a> the technical analysis of the GALA.
<h2>Past Performance of GALA</h2>
The recent jump of more than 30% within the last 24 hours drives the GALA coin price higher than the $0.30 mark. Thus, resulting in the breakout of the $.26 resistance zone.

The multiple bullish candle formation in the 4-hour chart and the increased trading volume indicate a rise in buying pressure. Hence, the coin price can shortly reach the $0.50 mark.

<img src="https://s3.tradingview.com/snapshots/v/vrweIKKE.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/vrweIKKE/">GALA/USD Daily Chart</a>
<h2>GALA Technical Analysis</h2>
The increased buying pressure in the GALA coin and the breakout of multiple resistance levels in the ongoing uptrend forecast a bull run longer than the $0.50 mark. Moreover, the rise of more than 200% in the past week showcases a phenomenal uptrend.

The breakout of the $0.26 zone initiates another price jump that can face opposition near $0.35 and $0.40 marks, as per the Pivot Points. Also, the support levels are at $0.29 and $0.26 marks. 

The RSI slope enters the overbought zone in the daily and 4-hour chart, indicating the buying pressure reaching the saturation level. Hence, the RSI indicator forecasts a short-term reversal in GALA coin prices.

The MACD indicator gives a bullish crossover in the 4-hour chart as the MACD and seller’s line rise higher. However, the lines generate a divergence with the price action. 

The Stochastic RSI shows both the K and D lines rising higher after the bullish crossover near the oversold zone. Moreover, the distance between the lines is increasing. Thus, it indicates a bullish signal.   
<h2>Upcoming Trend</h2>
Community feedback is a key component in the development of these games. Gala Games engages with its community via Discord to test their assumptions. This allows players to influence the design and direction of the games.

The uptrend gains momentum within the range breakout in the 4-hour chart. Moreover, the collapse of the $0.26 resistance zone with a solid bullish engulfing candlestick attracts more price action traders. 

Hence, a bull run to the $0.50 mark is possible as the momentum builds up. However, the RSI and MACD indicators forecast the possibility of a short-term bearish reversal before the bull run. Hence, traders can keep the stop loss tight near the $0.20 mark.

GALA Technical Analysis: Another Range Breakout Hits $0.30, Next Target $0.50

With the rise of more than 30% in the past day, the GALA coin price gains bullish momentum. Will it reach the $0.50 mark?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

GALA Technical Analysis: Another Range Breakout Hits $0.30, Next Target $0.50

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