Gala (GALA) has been on free fall for quite some weeks. The coin, like many other metaverse coins, saw massive selling pressure during the crypto winter last month. But despite this, GALA is starting to reverse. But there are still some signs the worse is not over yet. Here are some highlights:
Gala (GALA) has surged massively in recent times, adding nearly 60% in its value over the last 7 days.
Other Metaverse coins have also been following the same pattern this week with major metaverse-related developments.
We expect this upward trend to continue for a few days before a pullback comes in.
Data Source: Tradingview
Gala (GALA) – Can it rise further?
At press time, GALA was trading at $0.3254, up nearly 27% over the last 24 hours. The upward trend has actually been going on the past week with the token reporting gains of over 60% in the last 7 days.
But even though most of these gains have largely been driven by important news in the metaverse space, GALA had actually been consolidating around $0.17 for the best part of two weeks. The coin then went on to smash past a major resistance zone of around $0.23 even before the meta news came to light.
So, GALA was still on an upward trend and we expect this to continue. Just the other day, major companies like Apple and Disney announced major developments in their Metaverse strategies.
Should you buy GALA now?
The answer is a big Yes. We have not seen the token surge like this in a while. Also, GALA was a top performer in 2021 reporting growth of over 5000%.
Although we are not saying it will repeat that this year, the fact that many big companies are stepping into the metaverse is a sign this token will be huge in the future.