GALA Price Prediction as GALA Becomes Top 7 Most Traded Asset in the Market – What's Going On?

cryptonews.com:

The GALA price has risen by 0.5% in the past 24 hours, with its move to $0.01603699 coming after the blockchain-gased gaming platform issued a statement regarding the ongoing legal dispute between its co-founders, Eric Schiermeyer and Wright Thurston.

Despite this slight improvement, the above legal battle means that GALA has fallen by 21% in a week and by 32% in the last 30 days, with the altcoin also having dropped by 4% since the beginning of the year.

However, the company's statement affirms that its operations will remain unaffected by the dispute between its two founder, leaving GALA in a position where it could eventually bounce back strongly from its recent declines.

GALA's chart makes it clear that there's been a big jump in its trading volume in the past few days, rising from $400 million towards the end of August to around $800 million.

This increase has been caused by concerns surrounding the aforementioned legal dispute, with GALA's price suffering considerably as a result.

Indeed, its relative strength index (purple) has recently dropped below 30, signalling notable overselling and a loss of momentum.

At the same time, GALA's 30-day moving average (yellow) has declined even further below its 200-day average (blue), which again indicates a rush to sell the token.

And to make matters worse, the coin's support level (green) continues to decline steadily, suggesting that there may be further losses in store over the next few days (or weeks).

What makes the legal dispite particularly damaging for GALA is that the charges levelled by each co-founder are especially serious, with Schiermeyer claiming that Thurston stole around $130 million from the Gala ecosystem.

Conversely, Thurston is alleging that Schiermeyer siphoned