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Gala (GALA) Price Returns to its Bottom, can it Bounce Back Up?

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Investing in Gala Games (GALA) - Everything You Need to Know

While 2021 will forever be remembered as the year of NFTs, it is also very much a year when blockchain-based gaming really started to take off. As things are now, blockchain gaming might explode in 2022 or even beyond that, but this is definitely the year when so many excellent gaming projects emerged and started building up a new sector of the crypto industry.

One of the most notable ones among them is Gala Games, which aims to revolutionize the gaming industry by giving players control over their games, and offering “blockchain games you’ll actually want to play.”

The project did attract quite a bit of attention less than a month ago, after being relatively dormant for most of its lifetime, indicating that the interest is picking up.

Gala (GALA) price history

Gala Games project’s native cryptocurrency, Gala (GALA) did not see that much action during its lifetime. The project was launched in mid-September 2020 with a price of $0.001534, and for the remaining few months of last year, it kept dropping, starting from $0.001 until it reached its bottom just above $0.0002.

However, things suddenly changed for the project on December 28th, 2020, when it suddenly spiked back up towards $0.0015, entering 2021 at a similar price as the one it had after launch.

The price once again calmed down at $0.0013, and it remained dormant for most of January, only to start spiking more seriously throughout the next few months. By mid-March 2021, it surged up to nearly $0.035, but the resistance at this level rejected it, forcing it to drop to $0.025, which is where it spent the rest of March and most of April.

After Bitcoin price got cut in half in mid-May, a bearish wave cut through the market, also affecting GALA, which dropped to $0.005 for the first time in 5 months. Fortunately, however, it wasn’t long before it started recovering, and this time it actually managed to reach a new ATH by touching the $0.035.

The level still managed to resist being broken, and it once again forced the coin’s price down in early September. However, only a few days after that, the project started seeing a massive change.

GALA skyrockets in the second half of 2021

After being rejected by a resistance at $0.035, GALA price kept dropping until September 12th, when it found a support at $0.02. Immediately after that, however, the token’s price suddenly shot up, breaking every resistance it has ever known until it reached a brand new ATH at $0.12.

But, as impressive as this was at the time, it was only an introduction to what was to come a few months later. After hitting $0.12, GALA briefly corrected to $0.080, only to recover back to similar levels, and then correct again to $0.080. This level served as a major support throughout October and early November 2021, and it provided GALA with a bottom that allowed it to skyrocket in mid-November.

On November 14th, the GALA token started growing, and it kept going up almost uninterrupted for the next 12 days. On November 26th, it finally reached a brand new all-time high of $0.81, becoming one of the top performers of this year.

Gala Chart

Unfortunately, it did not stick around at this new peak for long, as it soon corrected, but its drop was stopped by a support at $0.45. Throughout December, this level served as its bottom that was slightly breached on a few occasions, but for the most part, the project was trying to breach two crucial resistances — one at $0.55 and another at $0.65.

At the time of writing, it is once again seeing a price drop due to a recent rejection after it attempted to go beyond $0.50. However, the project has proven that it definitely has the potential to go far beyond this level, and it is only the market-wide conditions that are holding it back right now.

To learn more visit our Investing in Gala Games guide.

Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.