• Gala Price has seen a 6.6% increase in the past 24 hours, surpassing the $0.04 mark and reaching a new 2023 high of $0.0566.
• This increase has been attributed to the partnership between Gala Games and Dwayne Johnson (The Rock) earlier this month.
• In order to maintain the uptrend, a daily close above the 200-day Exponential Moving Average (EMA) is required.
Gala Price has been one of the best-performing play-to-earn (P2E) blockchain tokens this year, with gains exceeding 180% in 30 days. This surge has been attributed to the growing interest in the crypto gaming sector, with new platforms like Meta Masters Guild (MEMAG) and Calvaria (RIA) gaining traction. This has seen gamers search for blockchain games that they actually enjoy spending time playing.
Over the last 24 hours, Gala price has seen a 6.6% increase, pushing the token above $0.04 and reaching a new 2023 high of $0.0566. This surge can be attributed to the partnership between Gala Games and Dwayne Johnson (The Rock) earlier this month, which has increased awareness of the token.
At the time of writing, Gala price is trading at $0.0527. In order to ensure the continuation of the uptrend, a daily close above the 200-day Exponential Moving Average (EMA) is required. This would enable the token to reach a new milestone of $0.07, and potentially even break above the $0.10 mark.
However, the buying pressure has been met with strong selling pressure coming from the 200-day EMA, which currently stands at $0.05236. This could cause the token to retrace to the lower yellow band on the daily time frame chart, although the potential of a bullish breakout should not be discounted.
Overall, the latest surge in Gala price is evidence of the growing interest in the play-to-earn sector of the crypto economy. With more and more gamers searching for blockchain games they actually enjoy, Gala price is likely to remain on the uptrend for the foreseeable future.