GALA Technical Analysis Shows Breakdown Below Trendline April 2022 | Games Ecosystem Development Positive
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GALA coin price predictions look rather bleak according to some of the recent technical analysis, despite the very optimistic outlook on the Gala games ecosystem. This article looks into the recent developments.
Our Gala crypto price prediction suggests that the price could plummet to $0.12 as it has broken the uptrend. Gala Games price broke down the upwards trendline for the first time since Sep 2021. This uptrend was significant as it took Gala price from $0.02 to $0.83 in less than three months. The price needs to break above the line soon, or the bears might gain full control. Crypto markets have been in a severe downtrend since the start of the year due to looming rate hikes.
Latest Gala Crypto News
Unlike most play-to-earn games, Gala Games aims to become the leading ecosystem of games. Therefore, there will be several games on the platform instead of just one game. The gala token would be the native token of this ecosystem. As per the latest Gala Crypto news, 26,284 nodes are running on the network. Beta versions of games like Spider Tank and Town Star are already live. Several other games like The Walking Dead Empire, Legends Reborn, and Superior are also in development.
The gala coin can be used to mint NFTs of Gala Games like Town Star and Spider Tanks. Both games appear to have many active users. The same token is also required to run Gala nodes. This utility, along with the massive adoption, could really send Gala crypto price prediction to stellar.
Gala Crypto Price Prediction
At the time of writing, Gala price is trading at $0.198. Technical analysis of the Gala coin clearly shows a breakdown below the trendline. This break in trend has increased the chances of prices hitting $0.12 very soon. Nevertheless, bears would first need to fight the support at the $0.15 level.
Gala Games needs to break above the trendline and reclaim it for any bullish outlook. In such a bullish scenario, $0.60 could also become a valid Gala crypto price prediction for 2022. However, overall, crypto markets are in a bear trend since the start of the year. Therefore, one must think twice before deploying their capital into any cryptocurrencies.
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