Fun

Technical Analysis: Gala Jumps 37% Higher, as Crypto Bulls Return

News Feed - 2022-02-06 01:02:18

Technical Analysis: Gala Jumps 37% Higher, as Crypto Bulls Return


During the weekend, when bitcoin rose to a two-week high, it was Gala that stole the show after climbing 37%. Bulls returned to action on Saturday, as the global crypto market capitalization was around 8% higher. Biggest gainers


Following a huge week of news in the gaming and crypto space, it was only a matter of time till traders turned their attentions to gala (GALA).


Crypto bulls flocked to GALA to start the weekend, pushing prices of the gaming-based blockchain almost 40% higher


GALA/USD, rose to an intraday high of $0.2668, following its low of $0.1865 during yesterday’s session.


Today’s move has come just as the price of GALA broke out of its 2-week resistance level of $0.2115, which has been held since January 21. GALA/USD – Daily Chart


As seen from the chart, this rally led to two consecutive breakouts of recent ceilings in the 14-day RSI, firstly the 35 level, followed by 41.


Overall, GALA is significantly below its ATH of $0.8415, which was established on November 26, despite this, some still have hopes of this eventually reaching $1. Biggest losers


Similar to yesterday, there were not many bears at the start of the weekend , with around five of the top 100 cryptocurrencies marginally falling.


However, the two biggest to remain red today were quant (QNT) and maker (MKR), with QNT stealing the honor of biggest loser on Saturday.


Following four consecutive sessions of rallies to start the week, QNT/USD was down by almost 5% as of writing, hitting an intraday low of $130.77 in the process. QNT/USD – Daily Chart


The move came as the 14-day RSI began to stall at the 54 resistance level, with prices selling off at the price ceiling of $140.00. Tags in this story Bitcoin, blockchain game token, BTC, Cryptocurrencies, Gala, Maker, markets and prices, MKR, Percentages, Price, price ceiling, Prices, QNT, resistance, RSI, Technical Analysis


With short-term momentum still bullish, is today’s decline only temporary? Let us know your thoughts in the comments. Eliman Dambell


Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Venezuelan Government Approves New Tax for Cryptocurrency and Foreign Currency Transactions NEWS | 2 hours ago Bitcoin, Ethereum Technical Analysis: Ethereum Moves Past $3,000 to Start the Weekend  NEWS | 8 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleGovernment Official Discusses Indian Crypto Policy, Global Regulations, G20 Meeting Next articleValue Locked in Defi Climbs 13% Higher Since Last Week’s Low, SOL Price Jumps 25%, AVAX TVL Spikes Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRussian Government Drafts Roadmap to Regulate, Not Ban Crypto, Report Unveils


A roadmap on cryptocurrencies has been prepared by a number of ministries, regulatory bodies, and law enforcement agencies, Russian media reported. The document, which aims to regulate Russia’s crypto market by the end of this year, comes amid disagreements between ... read more.Visa Partners With Over 65 Crypto Platforms — Crypto-Linked Card Usage Soars Despite Price Volatility Russians Aware of Bitcoin Divided on Proposed Crypto Ban, Poll Finds Russian Investors to Pass Exams Before Buying Cryptocurrencies, Draft Law Suggests Ark Invest Expects Bitcoin to Exceed $1 Million by 2030 — Says BTC Could Transform Monetary History

News Feed

SEC Tweets About Funds Holding Bitcoin Futures — Expectations of Impending Bitcoin ETF Approval Soar
SEC Tweets About Funds Holding Bitcoin Futures — Expectations of Impending Bitcoin ETF Approval Soar The U.S. Securities and Exchange Commission (SEC) has tweeted about investing
Savannah Fortis14 hours agoOKX plans to enter India, hire local employees for Web3 explorationThe CMO of OKX says the company is looking into its entrance in the Indian market through hiring local employees and “unders
Australian regulator claims win over Kraken’s Bit Trade in federal court 
Stephen Katte2 hours agoAustralian regulator claims win over Kraken’s Bit Trade in federal court A court has found Bit Trade offered a product without following design and distribution obligations and acted as a credi
Zhiyuan Sun7 hours agoHashkey HK opens AVAX trading with $1M portfolio requirementOnly professional investors with a portfolio exceeding $1 million can invest in altcoins through regulated exchanges in Hong Kong.709 Tota
Advertising Agency Launches Campaign to Free Jailed Egyptian Women With NFT Sales
Advertising Agency Launches Campaign to Free Jailed Egyptian Women With NFT Sales An advertising agency from the United Arab Emirates (UAE) and a non-governmental organization have
XRP Price To New All-Time High? Analyst Says $5.8 Is Possible Following ‘Golden Cross’
Este artículo también está disponible en español. The XRP price action has been one of the brighter spots in the cryptocurrency space in 2025, weathering virtually every
The Opendao Gives Xmas Airdrop to Opensea Users
The Opendao Gives Xmas Airdrop to Opensea Users New decentralized organization Opendao gave users of Opensea, one of the biggest NFT marketplaces by trading volume, a gift on Chris
Russia Considers Selling Power to Kazakhstan Amid Deficit Caused by Crypto Miners
Russia Considers Selling Power to Kazakhstan Amid Deficit Caused by Crypto Miners State-owned Russian energy giant Inter RAO is now discussing electricity supplies for Kazakhstan w
India Exploring Commercial Uses for Central Bank Digital Currency, Says Finance Minister
India Exploring Commercial Uses for Central Bank Digital Currency, Says Finance Minister The Indian government is exploring “several commercial use purposes and not just fin
1,000 Bitcoin From 2010 Worth $68M — Mystery Whale Returns Moving a String of 20 Decade-Old BTC Block Rewards
1,000 Bitcoin From 2010 Worth $68M — Mystery Whale Returns Moving a String of 20 Decade-Old BTC Block Rewards 154 days ago, a mystery bitcoin mining entity spent a string of 20 b
How to Mine Bitcoin in 2020
How to Mine Bitcoin in 2020 Bitcoin mining is a great way to earn cryptocurrency while providing a valuable service to the global network of users. Miners can set up a hardware o
Defi Losing Track of Its Core Vision as It Gradually Resembles the Very Idea It Aspired to Change
Defi Losing Track of Its Core Vision as It Gradually Resembles the Very Idea It Aspired to Change As defi continues to expand, it risks embracing the very ideology it initially sou