GALA price rebounded from the $0.18 support with a morning star candle and surged 108% after hitting the monthly resistance of the $0.38 mark. The reason for such swift recovery in GALA price could be multiple factors like the launch of new games and features on the protocol, Several new partnerships(888innercircle, Betwixt) helping GALA grow its community and user base. Nonetheless, the growing popularity of the P2P gaming sector has attracted new players in the market.
Key technical points
The daily-RSI slope plunge above the equilibrium
The intraday trading volume in the GALA is $1.8 Billion, indicating a 12% loss.
GALA/USD: 4-hour time frame chart
If GALA buyers rebound from $0.3 or $.175 support, it indicates the bulls are accumulating at these levels, and the price is likely to trend higher. However, a breakout and closing above the $0.4 resistance is required for better confirmation of recovery. If bulls could sustain the above $0.4 mark, the altcoin wou