Disclaimer: The information provided here does not constitute any form of financial advice. Readers are fully responsible for conducting their due diligence before making any investment decisions.
Gala Games: Market sentiment
For Gala’s market sentiment, we’ll analyze readings from the Fear & Greed Index (FGI) offered by Alternative.me. Presently, the FGI shows a figure of 14 (extreme fear), a level which it has not reflected for several months.
Under normal circumstances, this fear sentiment generally implies buying opportunities.
Despite this outcome, the overall crypto market has fallen for various reasons unrelated to Gala Games. The FGI has recovered from a previous reading of 10. Generally, the index is strongly correlated to numerous coins like Gala; as it moves up the fear rankings, the market typically increases alongside it.
Yet, the correction investors are hoping for could take some time as the overall decline of several financial markets like crypto and stocks may be more significant in the meantime.
Technical analysis
Predictably, GALA’s price is quite bearish. Without the 50-day (orange) and 200-day (blue) moving averages applied on the chart above, it’s clear the market is in a downtrend. However, this indicator provides further confirmation as the price is below the MAs, and the 50 is below the 200.
The $0.15 or 15 cents line we’ve marked on the chart is where we believe a bullish opportunity may present itself since the moving averages are likely to cross over at this point. For now, GALA is expected to trend lower or remain below the moving averages for at least a few weeks until the crypto market recovers.
Fundamental analysis
Here, we’ll look at recent feature news and the long-term proposition for Gala Games.
Recent news
In late April 2022, Gala Games partnered with Endless AI, an AI-based entertainment company. Endless has provided the platform with ‘Fuzzle,’ a series of near-10 000 purchasable collectibles purported as the world’s first ‘living’ AI-powered NFTs.
Such an innovative feature will undoubtedly be pleasurable for Gala’s users and should keep them engaged, thereby increasing trading on the network.
Long-term proposition
As the name suggests, Gala Games is involved in the crypto gaming niche, along with NFTs and, to some experts, the metaverse. While these three are all related concepts, gaming as an industry has seen explosive growth in the last few years.
This activity has transformed from being a mode of entertainment or escape from reality to being the reality for millions and, more importantly, a way to make a living through play-to-earn.
Despite the existing competition from other projects like Decentraland, and Axie Infinity, Gala Games is a gaming studio not dependent on one game; their range will only continue growing.
Gaming tokens have produced some of the most impressive gains in recent memory. Presently, the overall crypto bear market makes GALA relatively cheap in value. If you bought the coin at its current price of $0.08, you could net about a 900% return if GALA returned to its all-time high of $0.86.
This potential gain is much higher than if you invested in larger-capped coins like Bitcoin and Ethereum.
Gala Games (GALA) price prediction: 2023-2025
Despite some variations, all the forecasting sites we observed see GALA as being more valuable in 2023 and 2025, with relatively moderate estimates.
2023 forecasts
The average estimate we derived from analyzing numerous projections is $0.34. Most sites generally see GALA peaking near this price by 2023. Gov.Capital presented the most bullish forecasts of minimum and maximum values of $0.70 and $0.94, respectively. Too ambitious by 2023? Only time will tell.
2025 forecasts
For 2025, the average we calculated was $2.61, with estimates starting from a conservative $0.26. Similar to 2023, Gov.Capital was the most optimistic of the sites we explored, with low and high projections of $2.87 and $3.89, respectively, values greater than GALA’s all-time high price.
Gala Games frequently asked questions (FAQs)
Is Gala Games real?
Yes, it’s a crypto-based gaming project launched in 2019, now with several games and marketplaces under its umbrella.
What is the Gala Games price today?
$0.08 or 8 cents.
Will Gala Games’ price reach $1?
$1 is possible within a few years.
Should I buy GALA?
As with any coin, GALA is not entirely risk-free. Despite being a promising project, you should accept the possibility of losing your money or at least sustaining indefinite losses.
Where do I buy GALA?
To purchase this token, you need to create an account with popular exchanges Binance, FTX, KuCoin, Kraken, and Bybit. You can find a complete list of markets and platforms on CoinMarketCap.
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