Gala Price Prediction After Going Vertical: A Plunge is Coming

Gala token price jumped sharply as the developers announced major changes to the ecosystem. The token surged to a high of $0.043, the highest level in a few months. This means that it has surged by over 50% in the past 24 hours. It has also climbed by over 173% from the lowest point in December. So, why is Gala crypto soaring, and what next?

Gala Film and Mobile

Gala crypto price made a strong bullish breakout on Monday after two major announcements. In a statement, the developers said that they will create a Gala Film product that will reward users for watching. For example, users will receive a reward in $GALA token when they buy movie tickets. They will also receive the reward when watching using a streaming platform like Netflix. 

The developers have already inked deals with Dwayne Johnson and Mark Wahlberg. Johnson, popularly known as The Rock, is one of the best-known movie stars in the world. He is also one of the best-paid actor in the industry with a net worth of over $800 million. According to Forbes, he is paid $20 million per movie.

Mark Wahlberg is also a leading actor who has appeared in leading movies like Father Stu, Infinite, Mile 22, and Deepwater Horizon. Gala has inked deals for two movies with these superstars.

Another reason why Gala price is soaring is that the developers unveiled plans to incorporate mobile in their games. The existing games portfolio in Gala require computers and consoles. Therefore, by incorporating mobile, the developers hope that they will reach millions of more users. 

For starters, Gala is a leading gaming platform that creates games using blockchain technology. The developers hope to create games that people would want to play and use. People earn money in form of GALA token when they win.

Gala price prediction

The four-hour chart shows that GALA price went vertical on Monday because of the two reasons described above. It moved above the important resistance point at $0.028, the highest point on December 5. The coin moved above all moving averages. 

Similarly, oscillators like the Stochastic Oscillator and the Relative Strength Index soared to the overbought level. Therefore, the coin will likely pull back in the coming days as sellers target the key support level at $0.02. A move above the resistance point at $0.05 will invalidate the bearish view.