Compared to the overall market decline of only 1%, GALA is facing stronger challenges than other cryptocurrencies.
The ongoing legal battle between the co-founders of GALA has had a significant impact on its price, with a 32% decrease in the past month and a 20% decrease since the beginning of the year. This is in contrast to the performance of most major cryptocurrencies, which have seen an increase in value since January.
However, despite these obstacles, GALA’s fundamentals remain unchanged, suggesting that it has the potential to make a strong recovery.
GALA Price Prediction: Will GALA Outperform Dogecoin, Solana, and Litecoin?
One concerning factor for GALA is the increase in trading volume during a period of weak indicators. This indicates that most of the additional volume is likely coming from selling the altcoin.
Specifically, GALA’s relative strength index (purple) has fallen below 30, which has been the case since September. Additionally, its 30-day moving average (yellow) has been consistently below the 200-day average (blue) for several months.
The declining medium-term support level (green) also suggests underlying issues with GALA.
All of these weaknesses indicate a potential long-term decline for GALA.
This decline can be attributed to the ongoing legal dispute between GALA Games’ co-founders, Eric Schiermeyer and Wright Thurston.
Although GALA Games has stated that the dispute does not affect its daily operations, the market seems to disagree, as evidenced by the continuous decline in GALA’s price.
The resolution of the legal battle remains uncertain, and GALA may continue to face challenges for the foreseeable future. Some experts predict that GALA’s price may fall to $0.010 or even close to zero.
Despite these challenges, GALA remains an active and healthy network with a large user base and recent acquisitions. This suggests that there is potential for GALA to recover strongly in the future, especially considering its oversold status.
Exploring New High-Return Altcoins
However, GALA’s recovery depends on the resolution of its legal issues. In the meantime, many traders may be interested in exploring alternative altcoins, such as presale tokens that have shown above-average gains.
Bitcoin BSC (BTCBSC) is one of the new tokens worth considering. It is a BNB Chain-based cryptocurrency that has raised $4.2 million during its presale period. BTCBSC offers a stakeable version of Bitcoin, with a limited supply of 21 million tokens.
BTCBSC’s presale price is $0.99, providing an opportunity for those who missed out on Bitcoin in the past. The token will be relatively decentralized, and investors can participate by connecting their software wallets on the official Bitcoin BSC website.
After the presale ends, BTCBSC will be listed on BNB Smart Chain DEX, with potential for further listings and price growth.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and should not be considered investment advice. There is a possibility of losing all invested capital.
