thenewscrypto.com
- $GALA surged 40% in 24 hours, reaching $0.08587, a level not seen since May 2022.
- $GALA’s surge pushed its market cap past $2 billion, securing the top spot on the gainers’ list.
The cryptocurrency markets continued a surge over the weekend, with Bitcoin and Ethereum hovering just above key thresholds of $70,000 and $3,950, respectively. Amidst this bullish trend, most of the altcoins were reaching new highs, and one such Gala Token ($GALA) managed to steal the limelight. $GALA displayed a 40% surge in the last 24 hours, rising from $0.06098 to $0.08587. Additionally, the market cap of $GALA breaches $2 billion and secures the top spot on the gainers’ list.
Despite the significant surge in price, there were no major announcements from the $GALA other than Gala Games’ recent partnerships with Alienware and Amazon Web Services (AWS) for a hackathon program at the 2024 Game Developers Conference (GDC).
$GALA’s Next Target
At the time of writing, $GALA is priced at $0.07422, with an intraday gain of 24%. Further, a weekly return ratio of 67% and a monthly return ratio of 202% indicate continued upward momentum, foreseeing a potential retest of the $0.095 mark soon. Additionally, $GALA tokens witnessed a substantial spike in daily trading volume, soaring by over 120% and surging to $1.76 billion within the past 24 hours.
If $GALA continues to uptick and sticks above $0.085, it may set a new target at $0.098 and beyond. In a highly optimistic scenario, the rally could extend toward peaks of $0.18, which could trigger even more rallies toward $0.23.
However, in the event of market corrections, if $GALA fails to stay above the $0.085 range, it may witness a decline toward the support level at $0.037. This could propel the price down to $0.026, which would pave the way for the bearish zone.