GALA soars by 15% today: Here is why

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GALA soars by 15% today: Here is why

By Onose Enaholo - min read
Updated 26 January 2023
  • GALA is up by more than 15% in the last 24 hours, making it one of the best performers amongst the top 100 cryptocurrencies by market cap today.

  • The rally comes after GALA games announced its acquisition of Ember Entertainment.

  • The total cryptocurrency market cap is now above $850 billion.

GALA Games acquire Ember Entertainment

Gala Games announced a few hours ago that it had acquired Ember Entertainment. The games affiliated with Ember Entertainment, starting with Dragon Strike and Meow Match, will be integrated with the Gala Games L1 Blockchain and use GALA as gas. 

This latest cryptocurrency news has seen GALA become one of the best performers amongst the top 100 cryptocurrencies by market cap today. GALA is up by more than 15% today and is only outperformed by APTOS in the top 100 list.

At press time, the price of GALA stands at $0.0424 and could rally toward the $0.05 resistance level soon. 

The broader crypto market has continued its positive performance this week. The total market cap currently stands at $852 billion, up by less than 1% in the last 24 hours.

Key levels to watch

The GALA/USD 4-hour chart is extremely bullish as GALA has been outperforming some of the major cryptocurrencies so far today. The technical indicators show that GALA is outperforming the broader crypto market.

The MACD line is deep within the positive zone, indicating that GALA is extremely bullish at the moment. The 14-day relative strength index of 76 shows that GALA could enter the overbought region shortly if the rally continues.

If the bullish trend continues, GALA could move past the first major resistance level at $0.0504 before the end of the day. With the support of the broader crypto market, GALA could attempt to reach the $0.057 resistance level for the first time in months. 

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