Analyst Draws Attention to Metaverse Coin: Hard Days Are Here!

Popular crypto trader Cameroun Fous, blockchain gaming platform Premiere The token revealed its views.

The trader spooked investors by sharing a prediction that Gala has dropped below $0.040. The realization of this scenario will reduce the price by more than 10%.

At the time of this writing, GALA was trading at $0.044, down 12.2%, in line with current market declines. The token formed a double top near the $0.055 level on Jan. 17 and has fallen steadily since then.

Critical Days are Coming for GALA

If the decline continues, GALA may seek support at the next daily MA 200 at $0.040. In this scenario, the bulls could gather strength and start a rally to retest the $0.055 high once again.

According to Fous’s chart, GALA is still in an uptrend on the hourly chart, hence the bulls. blockchain game tokenIt can take advantage of the decline to raise its price.

On the daily chart, GALA is forming a triangle formation that could lead to a breakout, but the possibility of further declines cannot be ruled out.

As we have reported as, we have managed to take advantage of the “metaverse hype” in the market. metaverse coinincreased 138% in January.

On-chain analytics firm Santiment has called those who raise the token price “whales” or “big holders”. Santiment observed that the number of transactions exceeding $100,000 surged to a two-month high as prices rose.

The fundamentals of GALA remain a factor to consider. However, broader market movements may be more important in this regard.

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