The GALA coin price shows a rising trend momentum as the downfall continues to challenge the $0.30 mark. Will the price succumb under $0.30? GALA is an Ethereum-based currency that powers Gala Games. It is a platform that is designed to revolutionize the industry of gaming by giving players control of their games. The goal of the project is to change the way players invest hundreds of pounds for in-game assets, as well as countless hours playing the game that could be removed from them at the touch of an icon. The project aims to bring back creativity to gameplay by giving gamers the ability to control the game’s assets and games by using blockchain technology. Let us move ahead to read about Gala Games technical analysis. Past Performance of GALA GALA token price fails to rise above the resistance zone at $0.40 resulting in a downfall of more than 20% in the past 72 hours. The retracement creates triple black crow formation in the daily chart. Hence, the rising trend momentum in the downfall creates the triple black crow pattern suggesting a bearish continuation. GALA/USD Daily Chart GALA Technical Analysis The GALA coin price shows an increased selling pressure as the retest of trendline breakout gains momentum. Therefore, traders can find the price falling under the trendline, generating a selling opportunity. The MACD indicator shows a falling distribution of the bullish histogram projecting a possible end of the bullish cycle. Moreover, the falling slope of the MACD line might shortly give a bearish crossover in the daily chart. The RSI Power indicator shows a sudden surge in the bearish power as the slope falls below to the 50% mark. Moreover, the slope can shortly give a bearish crossover with the 14-day SMA. The Super Trend Indicator shows the price fall sustains above the slope projecting an uptrend in action. However, the fall within the trendline can catalyse the downfall below the $0.24 mark. In short, the rising trend momentum favors the underlying bearishness in the GALA coin price. Upcoming Trend The GALA coin price shows increased selling pressure and lowers the possibility of post-retest reversal. Therefore, traders can find selling opportunities below the $0.27 mark with a target at $0.20. However, traders need to wait for the price action confirmation to avoid a bullish reversal.
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