Can Bitrue’s GalaChain Interaction Push GALA Price To $0.050?

• GALA price has surged by 55% over the past 11 days.
• Gala price has departed from the bottom and triggered a pullback.

After a bearish trend, the Gala (GALA) crypto has undergone a consolidation at the bottom. However, the GALA price has erupted from the consolidation zone and has surpassed the 200-day EMA.

Here, the $0.0175 territory has worked. After a bullish rally, the price has displayed a pullback in the daily time frame. Exceeding the $0.025 mark has triggered a bullish signal, which could accumulate buyers.

The GALA token has reached the major resistance level of $0.0290 with strong buying pressure. Let’s see how the crypto price reacts near the significant resistance level.

Could GALA Price Recover Previous Losses?

When writing, the GALA price was trading at $0.0292. It has surged by 10.5% over the past 24 hours. The market capitalization was $976.31 Million, and the 24-hour trading volume was $183.16 Million.

The current cryptocurrency sentiment is bullish, and the price has triggered a breakout from the major resistance level. The market sentiment could boost the momentum, and the GALA token price may witness massive buying pressure.

Suppose the price defends the 200-day EMA; it could attract buyers. Buying pressure over the 200-day EMA might lead to massive buying pressure. Buyers may watch this year’s high if trading volume supports this momentum.

Conversely, if the digital asset price fails to hold the 200-day EMA, it could be a selling signal. Small players may prefer to book profit once the price starts trading below the 200-day EMA. Here, profit booking could lead to strong selling pressure.

Based on the technical indicators, the GALA price has smashed the key moving averages, demonstrating buyers’ dominance. RSI has tested the RSI-based moving average and moving upside. Most of the technical indicators are in favor of bullish forecasts.

Bitrue Increases GALA Trading Potential by Integrating GalaChain

Bitrue, a cryptocurrency exchange, recently integrated the GalaChain mainnet for GALA trading to increase market accessibility. Bitrue is the first exchange to eliminate bridge fees by providing direct GALA trading, depositing, and withdrawing on GalaChain.

Bitrue Integrates GalaChain Main Net for Gala Token Trading

▫️ Bitrue becomes the first exchange to integrate GalaChain
▫️ $GALA can now be deposited, traded, and withdrawn directly on GalaChain through Bitrue.
▫️ Users avoid bridge fees and can trade GALA with various tokens… pic.twitter.com/Evirgqv2NL

— StocktwitsCrypto (@StocktwitsCrypt) November 14, 2024

Bitrue offers a compelling substitute for GALA holders seeking an affordable trading experience. It enables users to trade GALA with different tokens directly on GalaChain.

The Gala Games ecosystem’s objective of making blockchain access more accessible, especially in the gaming industry, aligns with this integration. GalaChain’s direct transactions align with the ecosystem’s aim of reducing expenses and improving user experience.

GALA Price Prediction Based on Technical Chart

The recent surge in the GALA price highlighted a significant shift in market sentiment toward a bullish outlook. The token has witnessed a 55% increase over the past 11 days and a breakout above the crucial resistance level of $0.025.

There is potential for upward upward movement, particularly if the price maintains support at the 200-day EMA. If buying pressure continues and trading volume supports this momentum, GALA could target previous highs. It could reach the $0.050 mark.

However, caution remains necessary, as failure to hold above the 200-day EMA may trigger profit-taking and selling pressure. That could reverse recent gains. Overall, the technical indicators suggest a favorable environment for bullish forecasts in the near term.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.