Kraken's SEC Drama: A Catalyst for GALA to Collapse?
Crypto Daily
21 Nov 2023 7:33 PM
Explore the impact of Kraken's SEC charges on the crypto market and GALA's potential in this intricate scenario. This article delves into GALA's promising outlook, technical analysis, and price predictions amidst regulatory uncertainties....
- The Securities and Exchange Commission (SEC) has charged Kraken with operating as an unregistered securities exchange and commingling customer funds.
- Despite this, the Bitcoin price has remained stable, indicating the complexity of crypto regulation.
- Investor sentiment in the crypto market remains unaffected by these developments.
- GALA, a token powering the Gala Games ecosystem, has shown significant growth and opportunity.
- GALA has experienced an 80% increase over the past month and has a market capitalization of approximately $659.3 million.
- Technical analysis suggests a short-term bullish trend for GALA.
- GALA has resistance levels at $0.03014, $0.02925, and $0.02810, with support levels at $0.02252, $0.02136, and $0.02047.
- GALA's price prediction indicates a potential upward trajectory in the short term, with a possibility of testing the recent 1-month high of $0.027100.
- Key retracement levels from the 52-week high/low will be critical to observe for potential reversal points in the medium term.
- In the long term, GALA could challenge its 52-week high of $0.06260 or retract towards its 52-week low of $0.01252.
- The article suggests exchanging USDT for GALA on StealthEX for potential portfolio enhancement.
The sentiment in the article is generally positive, highlighting the growth potential of GALA and the resilience of the crypto market despite regulatory challenges.