Is GALA Going to Zero? GALA Price Slashes 5% Overnight as Fresh Meme Coin Bags $900,000
In an ongoing retest of historic resistance, Gala Games (GALA) has tumbled -5% overnight, leading some concerned bag-holders to ask ‘is GALA going to zero’?
The downside move comes as GALA enters a third day of resistance testing at the $0.20 level – following a strong recovery from foundational support at $0.013.
Gala Games Announces $100 Million Blockchain Fund Alongside New Play-To-Earn Games – LEGACY
Owning a Land NFT allows you to start your own in-game blockchain business association in Legacy the post reads
You will be able to play Legacy, while earning and owning your gameplay pic.twitter.com/rBn72pSzDr
— OTcrypto (@OT_Crypto) December 13, 2021
It seems that the price recovery has been driven by an unfolding partnership between Gala Games and Play Legacy (a new Web3 GameFi project focused on building out the first Play-2-Earn business simulator).
However, markets remain cautious towards Gala Games unfolding legal dispute between CEO Eric Schiermeyer and Co-Founder Wright Thurston.
As price action struggles to hold form, GALA is currently trading at a market price of $0.02034 (representing a 24-hour change of +2.4%).
This comes as GALA battles its third day of resistance testing at $0.020, a significant level which provided support back in June and triggered rejection at the end of August.
A descendant upper trendline also threatens current price position, creating double-trouble at the top for recovering GALA price action.
Worse still, a progressively descending 200DMA adds a third layer of resistance +15% above current price action – potentially limiting any substantial upside move.
Meanwhile, the RSI remains significantly overheated at 72.65, in a continual overbought signal that hints at a possible retracement move.
Yet,
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