With all the bullish sentiment around gaming, NFTs and Metaverse we see a lot of coins pumping like hell. Now that the NFT gaming project GALA is listed on Binance it has been pumping for days.
It's always hard to define where the top will be and when to step out, though I believe that there is still some room for growth for GALA considering its low market cap (xxB at the time of writing) and the bullish sentiment around the sector.
When drawing fibo extension lines from the last bottom it made, i believe we are going to see $0.80 today, after which a small retracement will follow. If it then breaks through the 1.618 we are most likely going to see the $1 mark soon.
It could very well be that even before we reach $1.10 a lot of selling will happen as the $1 mark is a psychological line that we are then crossing. I will surely put an alert around $0.95 to ensure I can monitor the activity around the $1.
#notfinancialadvice
It's always hard to define where the top will be and when to step out, though I believe that there is still some room for growth for GALA considering its low market cap (xxB at the time of writing) and the bullish sentiment around the sector.
When drawing fibo extension lines from the last bottom it made, i believe we are going to see $0.80 today, after which a small retracement will follow. If it then breaks through the 1.618 we are most likely going to see the $1 mark soon.
It could very well be that even before we reach $1.10 a lot of selling will happen as the $1 mark is a psychological line that we are then crossing. I will surely put an alert around $0.95 to ensure I can monitor the activity around the $1.
#notfinancialadvice
Comment:
As expected (see arrow on the chart) the retracement took place. GALA is now back to its ATH and will most likely continue to the top of the arrow if it can collect enough liquidity to do so.