GALA Price Prediction: 2024, 2025, 2030

GALA price prediction: Key highlights

1. Primary support and resistance levels

• The highest resistance can be anticipated at $0.099 on the weekly time frame.
• The lowest support level was observed at $0.013.

2. Market sentiment

• The market trend for GALA remains bearish in July 2024.

3. Predictive forecasts

• Based on our AI/ML predictive algorithms, GALA is projected to attain an average price of $1 in 2029 and $140 by 2035.

Given below is a comprehensive weekly technical analysis of GALA, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

GALA technical analysis: Bulls struggle to win uphill battle 

Primarily derived from its trading history over the previous year, the GALA price prediction for 2024 is focused on significant market trends and investors' reactions during the time. The period under review commenced with the token encountering substantial sell-offs triggered by the broader market downturn. 

The initial setback was a precursor to a series of declines, which drove the altcoin to its lowest yearly support level of $0.013 by mid-September. A notable shift occurred starting mid-October, with bulls initiating a robust rally. This effort culminated in a bullish flip of $0.020 in November.

A resurgence of bearish pressure temporarily halted the subsequent upswing, returning the token to the latter in late January. Nevertheless, the bulls regrouped in February and painted the market green. 

In March, a significant pump led the asset surge past the peak chart barrier of $0.069. The surge was propelled by Gala Games' announcement of collaborating with Alienware and Amazon Web Services (AWS) to host a hackathon at the 2024 Game Developers Conference (GDC). 

Nonetheless, a pullback followed the surge, reinstating $0.069 as the highest yearly resistance by mid-March. April brought more declines as the entire market bled. A bearish candle erased March’s gains, returning the asset to find its footing at $0.039.

This level halted further declines until early June as the token consolidated between it and $0.049. However, its resilience was tested when a hacker exploited the network’s smart contract, minting 5 billion tokens worth approximately $200 million.

This led to traders questioning the network’s security, causing a substantial dip in the token's valuation. Nonetheless, the price slightly recovered as the company assured that the impacted wallet was frozen and that the situation had been dealt with.
 

Despite this brief respite, GALA could not escape bearish clutches. The price continued its southbound trajectory throughout June and fell back to $0.020 by July. This journey of ups and downs brought the gaming token to trade at $0.024 at press time.

How high/low can GALA go in 2024?

Given the ongoing market dynamics, the token may struggle to maintain its position above the current support level. With a continued downtrend, $0.013 emerges as a critical support zone.

Conversely, if the bulls advance despite obstacles, GALA could pump to reclaim $0.049, turning the market in buyers’ favor. Overcoming the peak resistance would put $0.084 and $0.099 as the next upside targets. Yet, the latter might also pose a significant barrier to attaining a valuation over $0.100 within 2024.
 

Our predictive models forecast a continuation of modest growth for GALA. By 2029, the token is projected to trade as high as $1. This would signify reclaiming the all-time high (ATH) within this period. Moreover, by 2035, the price could escalate to as high as $140, reflecting significant market optimism and a positive outlook for the asset's future.

GALA's 2024 roadmap: Key indicators to watch and trade

• The Moving Average Convergence Divergence (MACD) line started below the signal line, with both negative. Their roles briefly switched from mid-July to late August. Following a bullish crossover in mid-October, both lines ascended.
• The MACD crossed above the zero line in December, then swiftly dipped by late January. It rebounded positively in mid-February, followed by the signal line. After peaking in April, the lines declined, culminating in a bearish crossover later in the month. 
• The MACD and signal lines turned negative by late June and late July, respectively. According to the latest data, the histogram was at -0.00302, the signal line at -0.00063, and the MACD line at -0.00365. 
• The trading volume started to recover by the end of October. Despite a minor dip in mid-January, the volume trended upward again in February. It reached a peak of 25.81 billion in March. After this, more dips followed, aligning with the dropping price. This highlighted investor withdrawal. 
• The Bollinger Bands’ contraction was reversed after the 20-week Moving Average (MA) was flipped to support in late October, and the price slightly exceeded the upper band in December.
• Following a dip below the 20 MA in late January, the price regained its dominant stance by mid-February. It surpassed the upper band between late February and mid-March, significantly widening the bands.
• This suggested the asset was overbought, and a corrective phase ensued as the price declined. By late May, the downtrend had reinstated the 20 MA as resistance. Moreover, the bands appeared to converge slightly, signaling high selling pressure.