GALAUSDTPERP Buy long | S6W1 | Team Trading Contest Post for Investors-Team

Hello everyone, for today's trade, I chose GALAUSDTPERP. This is a futures contract on Binance where you can leverage and make profits quick and instantly. The main asset name is GALA. Without wasting much time, I'd state the questions and answer like I normally do.

GALA is the utility token of Gala games. GALA is an Ethereum and Binance supported token. The Gala Games project was founded by Eric Schiermeyer in 2019. It's been two years since its launch and it's quite popular in the crypto space. Gala Games is an ecosystem of blockchain games. These games are NFT play to earn games. Most gamers enjoy these games because they stand the chance of earning while playing.

While most blockchain games are quite simple and not attractive for playing long hours, Gala games came to change that. Their mission is to create very interesting games people would want to play. With blockchain technology and NFTs, the accounts of users are protected. With certain games, accounts can be withheld or deleted in the case where there is a centralised system. Gala Games ensures that you do not lose all your progress and hard work with games.

Currently, there is only one game and NFT collectible series released by Gala Games. The game is Town Star while the NFT is called VOX. There are many other interesting games in development yet to be released.

Gala Games gives power to its users. Users own their NFT and can operate Gala Nodes to support the network and also earn rewards with their support. The Gala Node ecosystem is made up of three types of nodes and each uses different consensus mechanisms; proof-of-work (PoW), proof-of-stake (PoS) and proof-of-storage. PoW is used with the Founder nodes, Pos with the paid nodes while proof-of-storage is used with the free nodes.

Gala is worth $0.2602 and ranked #52 in the list of cryptocurrencies. Currently, there are 35,240,112,493 GALA in total and 6.98 billion GALA in circulation. It has a market cap of $1,815,397,880.

Gala recorded its all-time high of $0.8367 just 3 months ago. Its lowest price recorded within the last 90 days is $0.157.

Gala is listed in many exchanges. Among them, we have Binance, Huobi Global, Gate.io, KuCoin, Kraken, Bittrex and many more. Binance has the highest liquidity score when it comes to trading GALA with USDT. On Binance, you can buy and sell GALA easily and instantly.

GALA after reaching its all-time high dropped as low as $0.157. Within the month it recorded its highest at $0.3928. Just this week, its price fell to $0.1941 following the fall in the price of Bitcoin. After the fall in price yesterday, the day ended with a much higher price. I expected the price to be bullish today.

Gala Games is a solid project. Its price nearly hit 1 USD a few months ago and I expect it to rise above 10 USD in some months to come. It currently has only one game and one NFT collectible series and it already tried reaching 1 USD. I believe that with the launch of more games and NFTs, its price would rise greatly.

I marked the support and resistance levels in the 4H timeframe and switched to the 15 minutes timeframe. This analysis was in the morning.

The price was in an uptrend. I expected it to fall slightly before getting up again.

I marked some support and resistance levels and identified possible points for entry.

It wasn't long after when my order was triggered.

Later in the afternoon, I noticed the price wasn't going to drop any further to trigger my order and so I identified new points to enter and exit the market.

The trade details would be provided in the next section.

If I had a large capital of about 100 USD, I would buy GALA, hold and sell When it reaches $1. At that point, it'd surely fall again and I'd buy more of it when it dips. For now and this post while I have a capital of about 6 USDT, I prefer to leverage and perform short trades.

I placed a limit order on Binance futures with x10 leverage. My entry was 0.23473 USDT, TP was 0.24371 USDT and SL was 0.22593 USDT.

With my profit with stop loss strategy, I set a new SL when I was in floating profits just in case the price retraced so that I don't end the trade with a loss. My entry was quite impressive. It was slightly above the previous resistance level.

When the price rose higher I raised the SL higher to end the trade with more profits just in case the price retraced.

Upon noticing the shooting star I expected the price to fall and so I hastily closed the position forgetting my SL was in floating profits. At some point, I felt it was greed and fear mixed.

Later on, the price hit my TP after I exited the trade. The other thing is that it hit my new SL before reaching my TP. The trade details can be seen in the image below.

For today, I made more profits than yesterday. The profit made was 1.95003 USDT.

If you've heard about Axie Infinite you would know why you should buy GALA. I'd recommend others to buy GALA. Gala Games isn't just one game, it is an ecosystem of games people would want to play. It is doing quite well in the crypto market with just one game and NFT collectible. With time its price is sure to increase.

I'd say it is a good investment and that you should buy now and not when it has already increased in price. Buying at the point where the price has increased greatly, you should expect that people who have been holding for long would be selling off at that instant. Buying at that point is providing liquidity for them and you would be in losses until you wait for another bullish run which might take a longer time.

Gala Games has 9 games in development that are yet to be launched.

The games are The Walking Dead: Empires, Mirandus, Fortified, Spider Tanks, Legends Reborn, Legacy, Last Expedition and Echoes of Empire. These games are very interesting with very good graphics. Gala Games is truly focused on providing games we would want to play. I'm a game lover and I like this.

The developers also make sure to actively involve and interact with the Gala community members before working on games. Users aid in making the games enjoyable allowing them to want to play because it meets their demands.

Once again, I got more experience from this trade. I hope to correct my flaws in the next one. Gala is a token you should have and hold to sell in the future. Although I recommend it, you should be aware of the risk involved before you invest.