Gala Price Keeps Pumping Higher After Wahlberg and the Rock Deal – Can it Reach $1?
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Gala Games (GALA) recently made headlines as GALA’s price surged by almost 60% in one day after an announcement that they’ll be partnering with actors Dwayne ‘The Rock’ Johnson and Mark Wahlberg in producing films for their ecosystem.
The partnership also includes Gala Music and Gala Films as part of the Gala ecosystem. Gala Games also discussed potential future uses for the blockchain in the film industry, such as putting QR codes on movie tickets and for digital item redemption via platforms such as Netflix.
Gala has seen a 124% increase over the past four days and is currently trading at $0.04157, with an additional 2.64% increase on the day at the time of writing. Can the cryptocurrency move further to the upside all the way to $1? Just how high can the GALA’s price go from here?
CEO of #GALA confirms movie partnership with The Rock aka Dwayne Johnson.
After the GALA consolidated above the 50-day EMA for a couple of days, the price had an explosive bounce on January 8 breaking out from the resistance range of $0.02385 to $0.02469 and 100-day EMA resistance, closing with a 47.58% gain for the day.
As of writing, GALA’s price is trading above the short to long-term EMAs which suggests that the bias for the immediate future is bullish. Furthermore, the 20-day EMA is attempting to cross the 50-day EMA. A bullish alignment of EMAs is the next target for the cryptocurrency. This could further confirm its bullish momentum and is likely to create another higher high.
How Relative Strength Index (RSI) Could Impact GALA Price
In recent days, the cryptocurrency GALA has seen a significant increase in value, with its RSI trading in oversold levels for the past three days. Despite this, the price of GALA has dipped slightly, wicking off of the resistance range of $0.04330 to $0.04442.
Additionally, the volume of GALA traded has been relatively low compared to the last two days. This could indicate that a retracement for GALA may be due in the next couple of days.
GALA Price Prediction and Moving Average Convergence Divergence (MACD)
On January 2, a bullish crossover was observed on GALA’s charts. This pattern, which is characterized by the separation between the faster moving average and the slower moving average, has been consistently growing, as measured by its histogram.
Additionally, the MACD line together with the signal line has crossed over the zero line, providing further indication of the potential bullish trend.
Support and Resistances of GALA Price
After consolidating above the 50-day EMA, GALA has surpassed plenty of resistance levels in a span of 3 days after eventually experiencing some resistance around $0.04330 to $0.04442. With the GALA price retesting this level earlier this day and eventually getting rejected, a buyer’s exhaustion may be occurring and a retracement may be due.
Key levels to watch out for are the support level of $0.03882 to $0.03945 where the price could potentially bounce for the next couple of days. The immediate resistance range is $0.04330 to $0.04442.
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