GALA tokens can be a 43% price increase.

Gala Price Hints At 43% Recovery As Whale Accumulation Increases


Gala may set the price for a more significant recovery from whaling stocks.

This expected exit is mainly due to heightened bullishness among investors, which is expected to push prices higher again.

Gala investors can return the price increase

After the altcoin corrected by 28% in 48 hours, Gala's price fell victim to broader market signals. However, this did not discourage the owners of GALA; Instead, it served as a catalyst for a specific group – whalers.

Betfury

Instead of selling, these big wallet owners moved to stockpile more GALA. GALA addresses worth between $1 million and $10 million added $160 million to GALA, bringing their total holdings to $504 million.

Gala whale collection. Source: IntoTheBlock

Galata whales appear to have pre-empted the possibility of a recovery as they are showing a similar stock in market value to realized value (MVRV) ratio.

Read more: Where to buy Gala: 6 best platforms in 2024

The MVRV ratio measures the investor's profit/loss. Gala's 30-day MVRV shows losses of -21%, which could lead to accumulation. Historically, GALA's -14% to -24% MVRV often precedes rallies, which it calls the rally opportunity zone.

Gala Mvrv Ratio.
Gala MVRV ratio. Source: Sentiment

Therefore, if the price of the gala is low, it will stimulate the feeling of accumulation among investors, which may indicate a further increase in the value of the property.

Gala Price Prediction: Recovery, Not Rally.

Gala's price dropped by $0.044 from the $0.039 support floor, and based on the above factors, it is set for a further increase. The altcoin will continue to rise to regain its fallen wedge support that it had before the crash.

A test of $0.065 shows a 43% recovery potential for the asset, but this does not suggest a quick rally as it needs a neutral to highlight market signals.

Gala/Usdt 4-Hour Chart.
GALA/USDT 4-hour chart. Source: TradingView

Read more: How to buy Gala (Gala) and everything you need to know

However, if the bright steam before GALA price breaks $0.050 runs out, GALA will see a decline. Additionally, a loss of $0.039 as a support floor invalidates the bullish thesis.

Disclaimer

In accordance with Trust Project guidelines, this price analysis article is for informational purposes only and should not be construed as financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions. Please note that our terms and conditions, privacy policies and disclaimers have been updated.

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