Gala Games (GALA) has undertaken an impressive relief rally as GALA price pushes up +44% in defiance of legal headwinds from bickering top brass.
CEO Eric Schiermeyer and Co-Founder Wright Thurston are expected to lock horns in an unfolding legal drama stemming from allegations of misappropriated GALA supply.
When news broke in early September, GALA price reacted with a near immediate sell-off that saw bag-holders suffer a -31% loss.
$GALA might come to 0.164 neckline support of double bottom pattern before pumping again!
We’ll wait for a reversal candle there and then take a long position. Be patient with this one! 👀#GALA #forextrading #cryptocurrency pic.twitter.com/iLNmqLIH2m
— LitFXMogul 🇪🇸 (@LitFXMogul) October 27, 2023
However, amid a broader resurgence in alt coin markets, powered by a Bitcoin price breakout, a +44% relief rally seems to have reclaimed recent losses.
GALA Price Analysis: Is it Too Late to Buy GALA After +44% Relief Rally?
As price action attempts to consolidate back above the $0.018 price level, Gala Games is currently trading at a market price of $0.0179 (representing a 24-hour change of -3.44%).
The $0.018 price level marks a a historic level of support, with price action finding feet here on June 10 and August 18, denoting it as a key area for GALA bulls to hold.
In a further display of strengthening technical structure, the relief rally hammered through resistance at the 20DMA on October 22 – clearing the way for the explosive upside move.
Upside movements were stalled yesterday by topside resistance at the historic $0.02 price level – a level last touched on August 30.
Turning attention to GALA’s indicators, the RSI topped out in the recent move, overheating to a significant 77.7, and now following the minor localised retracement has began to cool with the indicator still showing substantial overbought divergence at 71.96.
Meanwhile, the MACD is reflecting the bullish posturing with minor positive divergence at 0.00060 – in a small vote of confidence.
Overall, Gala Games appears on the recovery here, although price action remains vulnerable to the fresh developments from the co-founders legal dispute.
This leaves GALA with an upside target at $0.02 (a potential +11.36%).
While downside risk could see GALA fall back down to lower support at $0.015 (a possible -16.48%).
Gala Games therefore carries a risk: reward ratio of 0.69 – a bad entry sat atop serious downside risk, and quite possibly too late to buy GALA.
In other news, an emerging gamblefi play has captivated market attention following the success of Rollbit, with the TG Casino presale flying high to
Fastest Growing Rollbit Alternative? This GambleFi Crypto Presale Just Crushed $1.5M Raised
As Telegram trading bots and GambleFi dominate September’s narratives, the TG.Casino ($TGC) presale is gaining significant attention – racing to $1,517,813 raised in just two weeks, here’s why it should be on your radar.
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Biggest GambleFi Presale TG Casino Presale: Hype and Beyond
The presale is where things get even more intriguing as the offered staking APY is nothing short of spectacular, standing proudly at 3,446%.
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The $TGC token’s utility is another aspect to spotlight – beyond its primary function in the casino world, its adaptability – be it swapped for gaming credits or other cryptos – adds layers to its potential growth.
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How to Buy TG Casino Early?
Step 1 – Go over to their official website
The first thing you want to get correctly is going over to their official website.
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You need to set up a crypto wallet, and it’s important to chose a wallet that supports ERC-20 tokens as this is TGC Standards.
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Next is to purchase some Ethereum (ETH) or Tether (USDT), as these are the tokens used to exchange into TGC.
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Go to TG.Casino’s website and click on the ‘Connect Wallet’ button. A pop-up box will appear, in which investors can choose their wallet provider and link their wallet to the presale dashboard.
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Once TG.Casino’s presale has ended, there will be a Token Generation Event (TGE), where investors can claim their purchased tokens by clicking the ‘Claim’ button on TG.Casino’s homepage. That’s all for how to buy TG.Casino.
TG Casino’s Unrivalled Tokenomics Could Trigger Biggest GambleFi Moonshot
To wrap it up, TG.Casino ($TGC) presale is not just an opportunity; it’s a front-row ticket to the future of Telegram GambleFi.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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