Should you invest in Gala Games (GALA) after spiking 57% in 24 hours?

Summary: Gala Games (GALA/USD) price rocketed more than 57% in the last 24 hours.… The post Should you invest in Gala Games (GALA) after spiking 57% in 24 hours? appeared first on Coin Journal.

Should you invest in Gala Games (GALA) after spiking 57% in 24 hours?

Summary:

  • Gala Games (GALA/USD) price rocketed more than 57% in the last 24 hours.

  • GALA is the native token of GALA Games, a blockchain game developer platform.

  • It also experienced a volume spike of more than 191% in the last 24 hours.

Gala Games (GALA/USDT) is up more than 57% in the last 24% boosting its seven-day gains to over 151%. Overall, the native token of the blockchain-game developer platform has rallied more than 660% in the last 30 days amid rising interest in non-fungible tokens and the metaverse.

Gala is built on the promise of reshaping the gaming industry by giving control back to gamers. Players can own non-fungible tokens and influence the development of games using the Gala Games ecosystem. The platform wants to develop games that players can enjoy whilst also changing the way players spend money on in-game assets.

Is it too late to buy Gala Games?

From an investment perspective, GALA has rallied to new all-time highs pushing its market cap above $4.5 billion. As a result, it is now the 43rd largest cryptocurrency by market capitalisation. 

Looking forward, the growing interest in non-fungible tokens and the metaverse will drive long-term growth. Therefore, although GALA has surged significantly in recent trading sessions, it could still extend gains.

Source – TradingView

 Technically, Gala Games seems to be trading within an ascending channel formation in the intraday chart. As a result, GALA has rallied deep into overbought conditions creating an opportunity for a pullback.

Therefore, investors could target technical pullbacks at about $0.5282, or lower at $0.3778, while $0.7526 and $0.8878 are resistance levels.

The post Should you invest in Gala Games (GALA) after spiking 57% in 24 hours? appeared first on Coin Journal.