Gala Price Forecast: GALA Price Soars 35%, But Is It Being Overshadowed by New Meme Coin's Potential?

Gala Price Forecast: GALA Price Soars 35%, But Is It Being Overshadowed by New Meme Coin’s Potential?

Updated: 27 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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GALA has witnessed a surge in price, with a 35% increase from its previous strong support level. This is likely driven by Bitcoin’s impressive surge, now above $34,000.

As of 10:39 a.m. EST, according to Coingecko, GALA is trading at $0.0178, reflecting a 14% gain in the past 24 hours.

The token’s daily trading volume further bolsters this surge, which has reached $1.34 billion. Further marking an 87.3% increase adding to its weekly performance, which has seen a 55.3% gain.

Can the Bulls Sustain Gala’s Momentum?

GALA/USD has recently bounced back from a support level of $0.012, a move within the descending wedge pattern featuring two lower highs and lower lows. This has seen the price rise above the 50-day Simple Moving Average (SMA) now a supportive factor, shifting towards a bullish trend.

When writing, the bullish momentum appeared to encounter resistance at a crucial price level of $0.021, positioned above the descending wedge. A bearish correction is possible if the bulls lose strength, pushing the price back toward the wedge upper boundary.

Gala’s GALA Bullish Bias

The relative strength index, which shows a surge from 44 below the neutral 50 marks and into the overbought zone at 75, backs the bullish sentiment. If the bullish momentum continues above the overbought level, there might be a price breakthrough above the 200-day SMA.

GALA’s price will probably encounter substantial resistance at the $0.021 level. Consequently, allowing the bears to exert downward pressure and start a price correction. However, there is a strong potential for an upward breakout.

Bulls could successfully breach this resistance level if they maintain their momentum, causing the price to stay above the upper boundary of the wedge and potentially trigger a rally. Such a move would attract more buyers, resulting in further upward movement and the possibility of reaching new highs at $0.028 and $0.035, respectively.

Conversely, with a bearish breakdown, the price of GALA could decline to $0.016, and if it falls below the support trendline, it might even drop further to the $0.012 support zone.

Meanwhile, BTCMTX offers an enticing opportunity with its presale project and stake-to-mine capabilities, positioning itself as a potential alternative to GALA.

BTCMTX Presale Edging $2.5 Million Target

BTCMTX presale in Stage 3 has reached an impressive $2,376,518, and this stage will conclude in less than 3 days.

The team behind BTCMTX has set a soft cap of $3.1 million, and each token during this presale stage is available for purchase at $0.0112. However, this price will gradually increase in subsequent stages, ultimately reaching $0.0119 in the final stage.

#BitcoinMinetrix has achieved another significant milestone! ✅

Accumulating over $2,200,000 raised. pic.twitter.com/NcfrJYIZel

— Bitcoinminetrix (@bitcoinminetrix) October 24, 2023

Participants in the stake-to-mine program can earn a high Annual Percentage Yield (APY) of up to 249%. This unique feature combines cloud mining and token staking, with 155 million tokens actively staked.

Get BTCMTX Tokens, $30000 Airdrop

Acquiring and staking BTCMTX tokens to earn credits for cloud mining is straightforward, and users can exchange these credits for hash power. A decentralized approach that prioritizes user security and transparency in the mining experience.

The $BTCMTX #Token, when utilised in an #Ethereum based smart contract, functions as the key to unlock #Bitcoin cloud mining. 🔓

Users can easily buy and use #BTCMTX tokens to acquire cloud mining credits, which can be exchanged for hashing power. ⛏️ pic.twitter.com/dQv3FsED2v

— Bitcoinminetrix (@bitcoinminetrix) October 26, 2023

Join the $30,000 Minedrop competition, which presents an exciting opportunity to win $3,000 BTCMTX tokens among ten lucky winners.

Satoshi Staker recently highlighted the impressive achievements of the BTCMTX project on his YouTube channel.

Visit the BTCMTX token website, connect your Web3 wallet, and exchange your USDT, ETH, or BNB for the tokens. Alternatively, you can make a direct purchase using a bank card.