Gala Games (GALA) Price Prediction (23.02.2022)

Gala Games (GALA) continued its decline under $0.30, with expectations of upturn on expected project milestone announcement.

UPDATED 23.02.2022 Gala Games (GALA) had a turbulent month in February, starting out around $0.18-$0.20. GALA moved to highs near $0.40, only to return to current levels of $0.22. At one point, GALA displaced Axie Infinity Shards (AXS) to take the spot of the third most valuable play to earn token.

GALA expects appreciation with recent news from the development team. In 2022, a new blockchain may be created to better reflect the needs of a growing P2E metaverse.

Gala Games is also preparing sneak previews of its Walking Dead game addition, and remains overall one of the most widely exposed P2E projects with social media noise and exchange positions.

UPDATED 01.02.2022 Gala Games (GALA) kept stable at $0.20 with a neutral trading sentiment. GALA had several weeks of accumulation and may break the three-month sliding trend. Extreme predictions see GALA break out suddenly after months of deflating prices.

UPDATED 25.01.2022 Gala Games (GALA) traded at $0.21 after a recovery from a low of around $0.16. GALA, along with Axie Infinity (AXS) is now an asset under consideration for Grayscale Capital, possibly bringing play to earn tokens to mainstream investors.

GALA is less bearish, with the potential of bouncing from the lows in the short term. Only 25% of GALA holders are in the money, putting pressure to hold the asset and wait out the market turbulence.

Gala Games (GALA) is one of the play to earn tokens showing extended weakness and lagging behind other assets for its recovery. GALA slid under $0.30, extending the crash to nearly 60% from its November peak. GALA failed to go nearer $1 during the late rally in 2021. 

Now, the expectation is to see GALA bounce from lows and take up another upward leg. As 2022 is showing signs of becoming the year of play to earn, GALA is one of the most prominent tokens with a relatively low per-unit price. 

GALA Price Prediction: New Announcement Coming

In the short term, the GALA market price may be swayed by a new game ecosystem announcement. The Gala Games team has not shared details about the announcement, simply picking up mentions on social media.

The Gala Games team also invites new account creation. There are also signs leading ETH whale wallets also contain significant GALA balances. This may be due to exchanges taking in deposits. 

GALA is well-represented on exchanges, and one of the few play to earn tokens with Coinbase trading pairs.

GALA Price Prediction: Competing for the Spotlight

Gala Games lines up among social media leaders, though the competition is heating in the play to earn space.

Town Star, the leading game in Gala’s portfolio, has been silent on social media for a while. 

GALA Price Prediction: Trading Sentiment

GALA is bullish on network growth and token adoption. However, most recent buyers arrived in the past few months, and 70% are out of the money. 

For now, GALA has not seen a capitulation event and the price slide is relatively gradual. GALA remains neutral, still in better shape in terms of sentiment compared to other play to earn tokens. 

GALA’s advantage is the opportunity to dip to a lower price before the recovery, becoming a short-term source of outsized gains. GALA trading volumes are under $400M in 24 hours, with significant upside potential if they reach the levels of more actively traded tokens.

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