GALA Price Prediction 2024: GALA Price Analysis
What's next for GALA?
Key Takeaways
- GALA supports the Gala Games metaverse gaming platform.
- GALA performed admirably in the previous market cycle but has underperformed in the current one.
- Our price predictions do not forecast a new all-time high GALA price on the horizon.
Gala Games was one of the crypto success stories in the run-up to the Bitcoin Halving in April 2024. GALA then rose as the market entered a volatile phase, climbing more than 10% from $0.0403 to $0.445 on April 18. However, GALA has fallen since and lost most of its gains made in 2024.
Nevertheless, GALA remains one of the biggest GameFi tokens.
Gala Games did not immediately respond to a request for comment.
Let’s now take a look at our price predictions for Gala, made on July 18, 2024. We will also examine the GALA price history, and talk a little about what GALA is and what it does.
Gala Price Prediction
Here are the Gala price predictions from CCN on July 18, 2024. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, are often wrong.
| Minimum Gala Price Prediction | Average Gala Price Prediction | Maximum Gala Price Prediction | |
|---|---|---|---|
| 2024 | $0.037 | $0.0385 | $0.04 |
| 2025 | $0.05 | $0.11 | $0.17 |
| 2030 | $0.09 | $0.11 | $0.13 |
There are two methods used to create our GALA price predictions. Predictions are created using fractals (mirroring movements and indicator readings) and the wave count.
The mean of the two predictions gives the average GALA crypto price prediction, the more bullish one is used for the maximum price prediction while the more bearish one is for the minimum.
Fractal Method
In December 2020, the 3-day RSI for GALA fell into oversold territory for the first time in history and generated a bullish divergence shortly afterward. Then, the price of GALA broke out from a descending resistance trend line, beginning a long-term upward movement that continued for nearly a year, leading to an all-time high of $0.83 in November. The increase amounted to a massive 430,800%.
A similar increase has transpired since September 2023, preceded by a bullish divergence in the RSI and a breakout from a descending resistance trend line. The main difference between these two movements is the rate of increase.
In 2021, the GALA price increased by nearly 20,000% in 72 days before correcting. In 2024, it increased by 610% in 176 days. So, the assumption is made that the movement in 2022 is 2.44 times longer but has a smaller magnitude. Using these ratios we arrive at a Gala Games price prediction of $0.20 in December 2025.
Projecting a similarly shaped increase leads to prices of $0.04 and $0.17 for the end of 2024 and 2025, respectively.
Wave Count Method
The 3-day time frame wave count suggests that GALA started an A-B-C corrective structure in October 2023. If the count is accurate, GALA has just started wave C in this structure. If wave C has the same length as wave A, GALA will reach a high of $0.132 in February 2025.
Projecting a similarly shaped increase and correction leads to a price of $0.037 and $0.05 at the end of 2024 and 2025, respectively.
Finally, we use the rate of increase for the past three years to predict the GALA price at the end of 2030. In the 1,106 days since July 2021, GALA has increased by 200% for a daily rate of increase of 0.18%. Projecting this increase until the end of 2030 leads to a price of $0.11 at the end of 2030. Adding and removing 20% to this target leads to the minimum and maximum GALA crypto price predictions.
Gala Games Price Prediction for 2024
The wave count and fractal methods give very similar GALA price predictions for the end of 2024 at $0.037 and $0.04, respectively.
Gala Games Price Prediction for 2025
The wave count and fractal method give very different GALA price predictions for the end of 2025. The reason for this is that the wave count indicates the price will be nearing the end of the correction by this time, while the price will still be increasing in the fractal prediction. More specifically, they give targets of $0.05 and $0.17, respectively.
Gala Games Price Prediction for 2030
Using the daily rate of increase for the past three years gives a GALA price prediction target between $0.09-$0.13 for the end of 2030.
GALA Price Analysis
The daily time frame GALA price chart shows a decline under a descending resistance trend line since the yearly high in March. The decline led to a low of $0.018 in July, seemingly causing a breakdown from the $0.022 horizontal support area.
However, GALA bounced, creating a long lower wick (green icon) and reclaiming the area. It has increased since but has yet to reach the resistance trend line at $0.033.
Despite the apparent lack of strength, technical indicators support the ongoing GALA upward movement. The reason for this is that the daily RSI and MACD both generated notable bullish divergences before the GALA price started its increase. Such divergences often lead to pronounced upward movements.
As a result, the most likely short-term GALA price prediction points to an increase toward the resistance trend line at $0.033.
Short-Term GALA Price Prediction
The GALA price prediction for the next 24 hours rests on the assumption that GALA will reach the resistance trend line. Projecting a similar rate of increase forecasts a GALA price near $0.026 for July 19. Then, GALA can continue increasing and reach the resistance trend line by the end of July.
GALA Average True Range (ATR): GALA Volatility
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility.
On July 18, Gala’s weekly ATR was at 0.009, a sign of low volatility. It has fallen since its all-time high of 0.11 in January 2022. As a proportion of the $0.025 GALA price, the ATR is at 0.3, indicative of average volatility.
GALA Relative Strength Index (RSI): Is GALA Oversold or Undersold?
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On July 18, 2024, GALA’s weekly RSI was at 41, a sign of a bearish trend.
Gala Price Performance Comparison
GALA is part of the GameFi ecosystem, so let’s compare it with other similar projects.
| Current Price | One Year Ago | Price Change | |
|---|---|---|---|
| Gala | $0.025 | $0.026 | -4.5% |
| Axie Infinity | $6.37 | $6.36 | 2.7% |
| The Sandbox | $0.34 | $0.44 | -23% |
| Enjin Coin | $0.20 | $0.31 | -36% |
The GameFi sector has underperformed in the past year.
Best Days and Months to Buy GALA
We took a look at the Gala price history and found the times when the price was at its lowest across certain days, months, quarters, and even weeks in the year, indicating the best times to buy GALA
| Time to Buy GALA | Days. Months and Quarters |
|---|---|
| Best Day | Wednesday |
| Best Week | 38 |
| Best Month | February |
| Best Quarter | First |
GALA Price History
Let’s now take a closer look at the Gala Games (GALA) price history. While past performance isn’t necessarily indicative of future results, understanding what GALA has done can help us contextualize future predictions.
2020-2021: GALA first came onto the open market in mid-2020 at $0.0005. Although the crypto market enjoyed a bull run in early 2021, it wasn’t until late summer’s metaverse mania that the token started to pick up. The news of its listing on Binance saw it skyrocket, crossing over $0.100 in September. There was more to come later in the autumn, as an already buoyant crypto market, coupled with the release of new VOX NFTs, saw it shoot up from $0.110 on November 16 to an all-time high of $0.837 on November 26. After this, the market dropped, and it closed the year at $0.451.
2022: The chickens came home to roost for the metaverse in 2022, with the sector underperforming in a seriously bearish crypto market. By mid-May, it had sunk below $0.050 and, despite returning to over $0.070 in August, the collapse of the FTX exchange saw it sink to close the year at $0.017, a year-on-year loss of more than 96%.
2023: This year was a little better, although the token is still a long way from its golden period of late 2021. In January, the news that its movie division, Gala Films, was working on projects with Hollywood superstars Dwayne “The Rock” Johnson and Mark Wahlberg saw it shoot up to $0.062 on January 28. After that, though, it was back down and reached a nadir on June 10 when, following the news that Crypto.com was suspending its American institutional arm, it fell to $0.019. Since then, it made a recovery and, on June 27, 2023, it was worth about $0.026. GALA ended 2023 at $0.031.
2024: GALA moved mostly down between January and February, reaching $0.022 on February 7, 2024. It then jumped in mid-March, peaking at $0.086 on March 10. The crypto fell, reaching a low of $0.034 on April 13. On July 18, the GALA price was at $0.025.
| Period | GALA Price |
|---|---|
| Last Week (July 11, 2024) | $0.022 |
| Last Month (June 18, 2024) | $0.026 |
| Three Months Ago (April 18, 2024) | $0.044 |
| One Year Ago (June 18, 2024) | $0.026 |
| Five Years Ago (July 18, 2019) | N/A |
| Launch Price (September 18, 2020) | $0.00015 |
| All-Time High (November 26, 2021) | $0.83 |
| All-Time Low (December 28, 2020) | $0.00013 |
GALA Market Cap
The market capitalization, or market cap, is the sum of the total number of GALA in circulation multiplied by its price. On July 18, 2024, Cosmos’ market cap was $906 million, making it the 87th-largest crypto by that metric.
Who Owns the Most Gala Games (GALA) Coins?
As of July 18, 2024, the five wallets with the most GALA were
- 0xf977814e90da44bfa03b6295a0616a897441acec. This wallet, listed as Binance, held 7,426,856,492 GALA, or 25.52% of the supply.
- 0xab4a1ff6b3c029f47baae511d304050787e77521. This wallet held 2,024,160,136 GALA, or 6.96% of the supply.
- 0x098cbdd8eb01b19d37539644821772e9bde12d55. This wallet held 922,083,288 GALA, or 3.17% of the supply.
- 0x7d96d2488402ded8e8f66b3f251b68258fcd42c3. This wallet held 799,907,938 GALA, or 2.75% of the supply.
- 0xf3b0073e3a7f747c7a38b36b805247b222c302a3. This wallet also held 757,538,319 GALA, or 2.6% of the supply.
Fact Box
| Supply and Distribution | Figures |
|---|---|
| Total supply | 36,763,263,139 |
| Circulating supply as of July 18, 2024 | 36,763,263,139 (100% of total supply) |
| Holder distribution as of July 18, 2024 | Top 10 holders owned 50.17% of total supply |
From the Gala Whitepaper
Gala Games doesn’t currently have a publicly available whitepaper on its website .
Gala (GALA) Explained
Zynga co-founder Eric Schiermeyer and Michael McCarthy, the creative director behind such viral gaming hits as Farmville 2 in 2018 set up Gala Games in 2018. Since then, Gala has grown to be a leader in Web3 entertainment.
The idea behind Gala was to create a world of online gaming that was decentralized and, with the growth of the Metaverse, it set itself up to be a place where people could buy, sell, trade, and earn non-fungible tokens within games.
As of July 18, 2024 there were 19 games listed on the Gala Games website , with four of them live. The system also has its own NFT collection, called VOX.
The GALA token supports Gala.
How Gala Works
The Gala Games platform is based on the Ethereum (ETH) blockchain. Its native token gives holders the right to vote on changes to the network. For instance, people who hold GALA can help decide what games go into development on the platform.
GALA’s holders can purchase nodes on the network, which help the system run and can earn their operators’ rewards.
People can also buy, sell, and trade GALA on exchanges.
Is Gala a Good Investment?
It is hard to say. The token may be on a winning streak, but there is no telling how long the upturn will last, nor where it will get to. On the other hand, things could barely go worse for GALA over the coming months than they did in 2022, when it lost more than 95% of its value.
Keep in mind that GALA could benefit from a metaverse comeback, but it remains to be seen whether that will happen. Also, the lack of a whitepaper could, ultimately, put some investors off.
As ever, it is vital that you do your own research before deciding whether or not to invest in GALA.
Will Gala go up or down?
No one can really tell right now. While the price forecasts are broadly optimistic in the long run, price predictions are very often wrong. You should also remember that prices can, and do, go down as well as up.
Should I invest in Gala ?
Before you decide whether or not to invest in Gala Games, you will need to do your own research, not only on GALA but on other, similar, coins and tokens, such as The Sandbox (SAND) and Decentraland (MANA). Ultimately, though, you will have to decide for yourself but, before you do, make sure that you never invest more money than you can afford to lose.
FAQs
Will Gala Games reach $1?
Our price predictions suggest that GALA will not reach $1 in the near future.
What is GALA used for?
The GALA token is a governance token for the Gala Games platform. People who hold GALA can vote on changes to the system, and it can be used to purchase nodes on the network. The crypto can also be bought, sold, and traded on exchanges.
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
