[REPOST] GALAUSDT Buy | S6T2 - Team Trading Post for Team Frontline
Hello Everyone,
lets get started...
Gala is a gaming project which projects to take the gaming industry diverse way by giving players their control over their games. Their mission is to make the blockchain games gamers really want to play so that's why they have the slogan "blockchain games you will actually want to play". This project is to change system where players spent alot of funds on games while spending hours to playing them. It has the plan to give control to gamers assets with the help of the blockchain technology.
Players have the ability to own Non Fungible Tokens(NFTs) to have an effect on the governance of the games in the Gala ecosystem. Gamers can influence the development and funding of a game using the founder's nodes voting mechanism. Gala games also utilizes its native token called GALA. The available playable game so far is Town Star.
Gala Games is founded by by Eric Schiermeyer he is also the co-founder of Zynga which is a social and mobile games company. Gala Games was launched in July, 2019 to be able to create a blockchain games which gives gamers more control and ownership of their games. Gala games has gain more attention which see it has about 1.3 million monthly active users with 26,000 NFTs being sold. It recorded the most expensive piece which was valued at $3 million. Eric Schiermeyer has a good reputation in the gaming industry.
One thing which makes Gala Games unique is that, it will have variety and different kind of games. As said earlier, Town Star is the only available playable game at the moment.
The current price of GALA at the time of writing this post is at $0.247921, having $1,010,172,281 USD in trading colume for the last 24 hours. In the last 24 hours Gala price was up 0.35%. It is ranked on #55 on the CoinMarketCap with a market cap of $1,729,797,596 USD.
GALA can be traded on Binance, Coinbase, KuCoin, Poloniex and so many other exchanges with different pairs.
Considering the chart above, I used both the RSI and Exponential Moving Average on a chart of GALAUSDT pair. I used 2 EMA with one being 20 period and the other 50 period.
On the chart we can see that the 20 period crossed below the 50 period which indicates bearish, and soon after that the price started to drop. The 20 period serves as a resistance and on two occasions it rejected the price into bearish. At the current price we can see that the price gathered momentum enough to break through the resistance.
Checking onto the RSI indicator the price is currently above the 50 mark which indicates a bullish trend. As it keeps rising, at any moment the price gets to the overbought region which means there is a possibility of price reversal so there is the need to exit the market.
Both indicators has given us a positive feed back to make entry into the market so there is no reason not to. I went ahead and got into the market with the GALAUSDT pair with $12.48 USDT.
While i was still monitoring the market, soon as the price hit my target point i made an exit from the market.
From my technical analysis we could see that all the indicators has given me positive signals to make an entry into the market and that's enough reason that gave me the confident about the price rise. Everything went more than as planned in bullish.
Currently the price is at $0.25 which was around $0.23 at the time of entry. I predict the price will rise to $0.26 which is the next resistance level.
I made a scalp trading using a 30 min time frame. I have already exit from the market after being in the market for about 2 hours. I will check on the price in the next hours to get another buying opportunities.
There is NFTs in its games where is single piece is worth $3 million. Therefore it has a future ahead but before that my recommendation is make use of the technical analysis during trades and also fundamental analysis to know the adjustments made that can affects the price of the token.
Here is my trade for the day, see you tomorrow for my daily trades...