ImmutableX (IMX), MultiversX (EGLD), and Gala (GALA) Represent Strong Projections and Investors Have to Watch Out for in the Next Sessions

The crypto market is flooded with opportunities, and top GameFi tokens are one of the buzzing cryptos. GameFi is an amalgamation of gaming and decentralized

With a market capitalization of over $300 billion, the crypto market is brimming with possibilities. Among the cryptos that are buzzing, top GameFi tokens are grabbing investor attention. GameFi combines gaming and decentralized finance (DeFi), utilizing blockchain for asset ownership, play-to-earn models, and other features of DeFi.

While tokens in traditional games are limited to the respective game, GameFi tokens distinguish themselves by integrating both gaming and cryptocurrency aspects.

Based on market capitalization and monthly performance, ImmutableX (IMX), Multiverse (EGLD), and Gala (GALA) are showing strong projections that investors should watch in upcoming sessions.

Immutable (IMX) Breaks Out: Will It Lead the Top GameFi Token Race?

Designed to enhance the scalability of Ethereum for NFT applications, Immutable has become one of the top GameFi tokens in the market. As a Layer-2 scaling solution for the ETH Network, IMX serves as a complete ecosystem for NFT enthusiasts.

This month, the token experienced a falling channel breakout and triggered a massive bullish surge. From the beginning of August, IMX rose by over 65% to reach the crucial pivot of $1.50 and looked set to ascend toward the $2 mark.

At the time of writing, IMX was trading at $1.42 with an intraday decline of over 3.29%, indicating a minor profit booking move. However, the market capitalization stood at $2.84 Billion.

The Daily RSI line remained in the overbought zone, continuing to support the bullish projections. According to the Fib retracement levels, the token had crossed the 38.2% zone and reached the 50% resistance region.

MultiversX (EGLD) Poised For Up Move: Breakout Imminent?

MultiversX is a blockchain protocol that aims to deliver high transnational throughput by utilizing sharding technology. It can be described as a technological platform of the emerging web that encompasses fintech, DeFi, and the Internet of Things (IoT).

Trading within a falling channel, the token reached the crucial resistance mark of $30 and was poised for a rise, moving toward the $50 mark soon.

At the time of writing, EGLD was trading at $29.68, having dropped more than 6% intraday. However, on the weekly chart, it looked bullish and could be set for a breakout soon. According to CoinMarket Cap data, it was ranked 75th with a market capitalization of $813.13 Million.

The Futures Open Interest dropped over 12.66% to reach $18.25 Million, indicating a long unwinding move in the past 24 hours.

Despite this, the RSI line was observed around 60, suggesting positive momentum, while the MACD indicators highlighted bullishness.

Gala (GALA) Chart Displayed Accumulation: What’s Next?

GALA is the native token for the Gala Games, which can be used for governance, DApps, and more. The chart displayed accumulation in the past few weeks. As a medium of exchange in the Gala Games marketplace, the token generated buzz this month.

Rising by over 35% in the last two weeks, the token showed anticipation for a breakout and crossed the immediate hurdle of the $0.02000 mark. It approached the 50 day EMA mark and attempted to continue the bullish move ahead.

Going forward, the token displayed a significant accumulation and buying interest with a rise in trading volume. Notably, GALA was trading at $0.0205 with an intraday drop of over 2.90%, showing a slight downtick during the intraday session.

However, the technicals remained strong and suggested that the token might resume the bullish surge and approach the 100 day EMA mark shortly.

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