The cost of Bitcoin is decreasing again, dropping from $67,000. It is now around $63,000. Some alternative coins might rise, but the cryptocurrency world is feeling uneasy about possible conflicts. GALA Coin might stand out positively during this time. Let's see what's new in this popular project in the GameFi sector.

GALA Coin Update

Gala, a type of alternative coin, saw a 28% price decrease in just two days due to a lot of selling like other altcoins. Even though the price dropped sharply, major investors in the whale group are still holding onto their courage. Addresses holding between $1 million and $10 million worth of GALA Coin are increasing their holdings.

The whale group has now accumulated $160 million in total and is standing strong. The combined value of assets owned by these large investors is now $504 million.

Recent MVRV data suggests that now might be a good time to gather GALA Coin. MVRV measures investor profit or loss. With Gala's 30-day MVRV at -21%, it seems like a good time for investors to buy. Look back at previous data shows that MVRV levels between -14% and -24% have led to an increase in prices.

GALA Coin Price Forecast

Gala's price bounced back from $0.039 to $0.044 and could continue to increase for the reasons mentioned earlier. The coin might start moving towards the support and resistance levels of the wedge where it landed before the crash. A technical analysis shows a probable resistance at $0.065.

A 43% price increase could happen if the expected rebound starts. But, if the optimism fades before Gala reaches $0.050, there could be a bigger drop if it goes below $0.039.

Reports suggest that tensions in the Middle East might keep rising, making it hard for the bulls to keep things positive. With Bitcoin hovering around $62,700, investors may start selling as Israeli missiles target Iran.