Gala Jumped 37% Higher With The Crypto Bulls Returning: Analysis

Gala Jumped 37% higher with the rest of the crypto bulls returning on scene and over the weekend, Bitcoin even reached a two-week high so let’s read more in today’s altcoin news.

Gala jumped 37% and stole the show after the increase with the bulls returning to action this Sunday and the global crypto market cap overall increasing 8% higher. Following a huge week of news in the gaming and crypto space, it was only a matter of time before the traders turn their attention o GALA. The bulls flocked the coin at the start of the weekend and pushed the prices of the token almost 40% higher.

GALA/USD reached an intraday high of $0.2668 from its low at $0.1865 during yesterday’s session. Today’s move came as the price of GALA broke out of the 2-week resistance level from $0.2115 that was set on since January. As can be seen from the price charts, the rally led to two consecutive breakouts of the ceilings in the 14-day RSI levels. Overall, GALA is below its ATH of $0.8415 which was established by November 26 despite some having hopes that the coin could reach $1. Similar to yesterday, there were not many bears at the start of the weekend with around five of the top 100 cryptos failing to achieve a decent price increase.

However, the two biggest to remain red today were Maker and Quant the latter being the biggest loser on Saturday. Following the consecutive sessions of rallies to start the week, the pair was down by 5% and hit an intraday low of $130 in the process. The move came as the 14-day RSI started to stall at the 54-resistance level and the prices sold off at the price ceiling of $140.00.

As recently reported, After surging above $41,000, BTC maintain momentum and remained above the level. The altcoins that marked major gains yesterday stalled for now but during the Sunday market watch, Axie Infinity became one of the few exceptions and made a huge double0digit surge. It was only a few days ago when the biggest cryptocurrency struggled to remain above $37,000 and dropped below this level multiple times. The bulls tried to push It north and resulting in trading around $38,000 on Friday. This is where the situation changed though. BTC initiated an impressive leg up in the next few hours and surged above $40,000 for the first time in weeks. BTC reclaimed $41,000 and got closer to $42,000 so now the asset stands just shy of this level and the market cap is close to $800 billion once again.

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• Source: https://www.dcforecasts.com/altcoin-news/gala-jumped-37-higher-with-the-crypto-bulls-returning-analysis/